Make the family business work Toronto ON

If you own a family run business, you know how emotions can interfere on the job. Here are some helpful hints on how to properly manage your family business.

Ontario March Of Dimes
(905) 357-1132
6995 Ailanthus Ave
Niagara Falls, ON
 
Kawartha Lakes Cmmnty Futures
(705) 328-0261
189 Kent St W
Lindsay, ON
 
Royal Canadian Army Cadets
(705) 324-0114
Kent St W
Lindsay, ON
 
Lougheed & Assoc
(613) 933-9669
744 Glengarry Blvd
Cornwall, ON
 
Business Improvement Area Ofc
(705) 324-7710
4 Victoria Ave N
Lindsay, ON
 
Community Education Group
(905) 354-4866
5017 Victoria Ave
Niagara Falls, ON
 
Great Lakes Business Services
(519) 927-3225
5 Rosehill Ct Caledon
Caledon, ON
 
Trg Business Svc
(905) 371-3000
6153 William St
Niagara Falls, ON
 
Hobelaid Cheryl Hobeland
(519) 542-5533
1649 Murphy Rd
Sarnia, ON
 
A T S Tax & Financial Consultants
(705) 495-3740
269 Main Street West
North Bay, ON
 

Make the family business work

Provided By:




By Stephanie Regan

(NC)-In a family business, family history and emotion can create a rough ride. Here are some suggestions from the Canada-Ontario Business Services Centre (COBSC) for making the family business work more smoothly:

First, put business relationships, roles, expectations and compensation in writing. Management lines should be clearly drawn. In any workplace, confusion results when reporting structures are unclear, and staff are unsure who is in charge of what. Make rules and responsibilities clear to all.

Second, fairness will go a long way. An owner-manager should ensure pay scales, promotions, schedules, criticism and praise should be fair and equal, both among family and non-family employees.

Third, when deciding who should be in charge, ask yourself who offers the best management techniques. Don't let age or gender be a barrier. Ask yourself who is thick-skinned enough to live and work with family bickering, and tough enough to make decisions stick.

Fourth: history may colour attitudes about abilities within the family. Long standing feuds or tensions can spread, and no business owner can afford to let the company divide into warring camps. When this happens, non-family employees must be convinced their interests are best served by a profitable organization, rather than by allegiance to a particular member of the family.

Seek outside advice

The decision-making process inside a family business can be very closed. Fresh ideas and creative thinking can get lost in the tangled web of family relationships. If the growth of your business is hampered by reluctant relatives, call in outside advisors.

Information for small business in Ontario is available free through the Canada-Ontario Business Services Centre. Talk to specially trained business representatives when you call toll-free (888-576-4444 or TTY: 1-800-457-8466) weekdays between 8:30 a.m. and 6 p.m. EST. Visit www.canadabusiness.ca/ontario to learn more.

- News Canada

Related Local Events

Networking with a Twist
Dates: 2009-04-23 – 3009-04-23
Location:
LaserTron Amherst
View Details