Family-run businesses

A family-run business is typically one in which more than half the shares are controlled by members of the same family, or one that has been passed between generations.

Starting, leading and working in a family business can bring valuable benefits compared with other businesses - from greater trust between staff to increased flexibility. However, without careful management there can also be problems - from family members lacking critical skills, poor communication to clashes over pay.

This guide sets out the advantages and disadvantages of family businesses. It also looks at some of the key things to consider when setting up a family business and managing conflict in family businesses.

Free business start-up support

Access free start-up business support from your local council. If you have a great idea but you're not sure how to turn it into a business, or you have already started out in business and require mentorship on your next steps, Go Succeed Start experts will help you to create a business plan, seek funding and put all the foundations in place to get your business up and running.

Complete a short enquiry form or call 0800 027 0639 to register for this free advice and guidance.