Family Business and Building Your Resources for Assistance Assignment 6 is two-fold: 1. Review the attached pdf on Family Business and do a popular press research over the topic as well as search for operations such as Family Business Centers often located at various colleges and universities. From this information, discuss your findings/thoughts regarding this approach to small business ownership/engagement. Discuss the advantages/disadvantages of being involved in this type of endeavor. If you have experience(s) related to personal involvement with a family business OR know someone who is/has been/is about to be involved in a family owned business AND are comfortable sharing the experiences, please feel free to do so. 2. Resources (agencies, state/local programs, etc.) for help/assistance for small businesses are abundant. Identify and discuss a minimum of five (5) possible sources of information and assistance that could prove to be invaluable to prospective small business owners. Assignment 6 (combined content for part 1 and 2) should be 2-3 pages max

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THINGS TO CONSIDER WITH FAMILY BUSINESSES BUSINESSES... - FAMILY AND BUSINESS OVERLAP - COMPETITION BETWEEN BUSINESS AND FAMILY - DAD AND MOM AS FOUNDERS - HUSBAND/WIFE TEAMS - SONS AND DAUGHTERS - SIBLING COOPERATION/RIVALRY - IN-LAWS IN AND OUT OF THE BUSINESS Advantages Of Family Businesses - Strength Of Family Relationships - Family members May Sacrifice $ To Keep The Business Going - Can Use The Family Theme For Advertising And Promotion Special Features Of Family Firms - The Need For Good Management - Nonfamily Employees In A Family Firm - Family Retreats - Family Councils - Succession Issues - Reluctant Parents And Ambitious Children