Encouraging Family Participation in Family Business

The active participation of a family is a constant and robust influence on the processes of planning. Participation of a family is a substantial demonstration of dedication to the business. However, it’s also a significant tool for maintenance of family commitment. In case that every individual is positively engaged, the business must acquire family commitment. Victorious business performance and ownership continuity both needs family commitment. The advantage of boosting participation in businesses is that through empowerment, more opportunities are created for the contribution of the next generation and fulfillment. Establishment of family member’s participation assists in building excellent commitments and minimizes the powerless faced by family business member’s next-generation experience. Motivating family business participation guarantees its survival. Family participation can be explained by two significant dimensions.