A major advantage of family businesses is that there is always a guaranteed successor within the family whenever the owner decides to step down.

Question

Quizplus · Accepted Answer

While it is true that family businesses often have the advantage of a built-in successor within the family, it is not always guaranteed. Sometimes there may not be a family member interested in or qualified to take over the business, or there may be conflict within the family regarding who should take over. Therefore, it is not always a guaranteed advantage.

A Major Advantage of Family Businesses Is That There Is