Family Business is the one of most popular kinds of business in this era. It is a major topic of discussion, study and research now days. That's why it is necessary and important that we review it in the worldwide and Pakistani context. We have to analyze its issues and problems. Because it is very clear that this kind of business is very beneficial for the beloved country. Estimates show that about 85 percent of businesses in the European Union and 90 percent of US businesses are family controlled.
Worldwide family businesses account for approximately 75 percent of the top 100 companies. However, it is worth mentioning that Family Businesses usually fail to reach some stage and does not run for a long time. Therefore, it is important to review the reasons for continuing this useful business by reviewing these reasons which lead to failure. In this article, such an initial effort has been made to review the factors that take Family Business to the path of failure.
There are two parts of the article: In the beginning, the basics of Family Business have been mentioned, and after that, a selection of important issues and solutions has been presented. Some of the mentioned issues are related to management, while others are related to Sharia guidance. Hopefully, this writing experience will cover the most important aspects of the topic.