Like it or not, you can't choose your family. But would you choose to go into business with them? Well, this does seem to be a rather popular way of starting up an enterprise. Family businesses generate revenues of £1.1tn every year and provide 40% of employment in the private sector.
But there are many out there who are reluctant to mix their personal and professional lives. According to a YouGov poll, 53% of people in Britain said they wouldn't go into business with a family member. Their reasons ranged from not wanting to complicate relationships, to worrying that arguments about the business would cause irreconcilable differences.
On the other hand, for some people it really is all about better the devil you know: of those who said they would go into business with family, 70% said it was because they felt they could trust them completely.
So, we'd like to know what you think. Is your small business family-run? Have any issues arisen? Have you made a conscious decision not to mix business and family? Tell us about your experiences in our open thread.
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We'd love to hear your views and thoughts in the comments but please remember not to disclose personal identifiable details.
