Hello, hello, dear listener and welcome in the AIL speaking part three, we're talking about family businesses.

Do you think family businesses are common in your country?

Not sure, to be honest.

Though I imagine they're less common than they were,

since people are no longer boxed into the same professions

that have run in families for decades.

People have a lot more freedom of action these days.

What makes a successful family business? I'm not sure it's that different to other businesses.

Is it? They need a market for their product and good management? I suppose in a family business,

it's important not to let family ties get in the way of that, but that's all

I can think of. What are the advantages of running a family business? I imagine you don't have to

worry about trusting employees as much since you know the people working for you, and you know them

fairly intimately. Anyway, benefit from having your family as a source of labour,

which could be cheaper since family members might be more tolerant of being paid less,

especially if it helps in the long run.

And what are the disadvantages of running a family business?

Well, if you have a fallout in the family, that could affect productivity and the strain of

running a business might have a detrimental effect on relations in the family, more generally,

since you don't really have a place to escape to at the end of the work day.

Do you think family businesses will still be popular in the future?

I'm not sure they're that popular now, to be honest, but either way, I don't know.

It depends on so much.

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