No Family in Entrepreneurship

In the Philippines, the family holds a special place in the hearts of many. However, when it comes to business, a different set of rules often applies, and it won’t look good having a close relative in your business.

It’s a common scenario for all kinds of businesses here–be it a small business or a big enterprise: a relative approaches you, seeking help or a job within your business.

While your natural instinct might be to assist this relative, there are compelling reasons to think twice before blending family with entrepreneurship.

Don’t become the safety net for everyone

Resist the urge to become a safety net for relatives in need. While helping a family is admirable, it can become a burden when it’s a recurring expectation. You might become their safety net, which is not helping them at all in the long run as they’ll see you as a way to earn quickly. Your business shouldn’t serve as a financial fallback for every relative facing difficulties.

Hiring family members might create a rift among employees

Having family members around can create tension among your employees. They may perceive it as favoritism, undermining morale and camaraderie within your team. Giving someone a job based on your relation, and not through qualification will not look good in the eyes of others. Valuable employees might leave, feeling their hard work isn’t being fairly recognized.

The difficulty of delegating tasks

Delegating tasks to a family member, especially if they’re older, can be awkward. In a family setting, roles are often well-defined, and switching them for business purposes can lead to frustration on both sides. Moreover, you may not want sensitive business matters to become dinner table conversations during family gatherings.

If your relative has the qualifications, the expertise needed for a certain position, and is competent in all aspects, then by all means, hire him. However, we all know that this is not always the case. In the world of business, maintaining a clear boundary between family and professional life is paramount. While family is essential, your business’s success should be built on merit and qualifications rather than familial ties. Balancing these two aspects can be challenging, but it’s important for the harmony and growth of your business, your family relationships, and your sanity. (GFB)