5 Pros and Cons of Involving Children in a Family Business

Do you own your own business and are debating whether or not to involve your children? As with just about anything, there are a few things that you need to keep in mind. Below are taken from my own experiences working in a family business.

1. It gives children work experience.

It can be difficult for children under age 16 to get a job simply due to the fact that they aren't able to drive. However, for children 14-16 who want to work during the summer (and can legally do so, at least in Michigan), a simple job working in a family business may be ideal. It will prepare them for a career later in life.

2. Working in a family business gives children a sense of purpose and gives them experience interacting with adults.

Children need a regular routine, especially during the summer. A summer job in the family business can provide just that. In addition, it can provide young teenagers experience dealing with adults on a professional level. For instance, most kids are used to dealing with parents, teachers, coaches, etc. - all adults in authority. By working in a family business, they have an opportunity to interact with adults on a professional, even level.

3. It also helps develop business skills such as money management.

The earlier young teenagers learn useful business skill such as money management, the better off he or she will be. They can later use these skills as they enter college, and later, a career.

4. It can be difficult to separate family time from work.

One of the biggest drawbacks of having your kids working in the family business is that it can become increasingly difficult to separate family time from work. If you are both parent and boss to your child, take time to ensure that you set boundaries. Let your child know when you are his or her boss and when you are Mom or Dad. That simple act can save you a lot of issues in the long run, especially when it comes to work schedules and various outside activities.

5. Children also need to learn how to work with supervisors outside of the family.

If your child grows up only working for Mom and Dad, he or she may have difficulty working with other supervisors later on. For example, Mom or Dad will be more sympathetic to personal issues that may arise or providing time off for personal pursuits.

It is a good idea to have your kids get work outside of the family business as well, even if it is only for a few hours after school.

If these few small items are kept in mind, the process of employing your son or daughter in the family business will go much more smoothly. As the daughter of a small business owner who worked for her parents for several years during high school, I have experienced some of the issues above. Hopefully this will help you make a more informed decision when considering employing your son or daughter in the family business.