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Top Tips For Running A Family Business

by Jamie Adrankone

Top Tips For Running A Family Business

Lots of local businesses who use the best storage Rhyl has to offer are family run. If you’ve ever been a part of a family business, you’ll know it comes with its own unique situation - with people who not only work together, but are related, comes some difficult relationship management. If your business is finding the family element tough, Wales Online has some ideas for you to consider.

Knowing from the outset whether you plan to have your children succeed you in the business, or whether the idea is to sell up, is a great way to let everyone know where they stand. If you work with your children, it’s great for them to know if it’s a job with prospects for life, or just a job for now.

Make sure everyone has a contract and a job description - this helps separate the blur between work and family life and let’s everyone know what’s expected from them.

Shareholder agreements safeguard everyone against death, divorce and difference in opinion.

Think hard before you give someone a job - would they get the job if they weren’t a member of the family? Asking someone to get experience in the field is no bad thing in the long run, as they’ll have much more to offer when they do finally come on board and can feel truly valued.

Last but not least - don’t discuss work at family get togethers - keeping work out of social situations will help maintain your relationship as relatives first and foremost.


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