From Yahoo Finance: 2025-04-27 10:00:00

Young adults are increasingly joining family businesses, with over 50% of small business owners being over the age of 50. Succession plans are being made due to a cooling labor market. However, entering a family business comes with challenges like establishing credibility with employees and customers and facing accusations of nepotism.

Returning to the family business can be successful if the returning child brings expertise learned in the corporate world to improve the company. This could involve upgrading technology, introducing new ideas, and ensuring growth. However, they may have to give up the higher salary and perks of a corporate job for more control over their life as a business owner.



Read more at Yahoo Finance: Taking over the family business? Expect less Hallmark, more stress