Business prudence can restrict reaching growth potential
FAMILY businesses are very different to other private businesses - decisions are not purely geared to profitability and there are issues around maintaining harmony within the family.
Family business transcends a corporate entity’s goals of wealth and profit. It is part of the family and can be run for reasons of philanthropy or status in the community and so the goals are different.
Jonathan Boyers, partner - corporate finance, KPMG Enterprise, says: “Decisions that family businesses might make may... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...