Challenges of family-owned businesses

The new generation has little interest in continuing the business built by their elders.

Family-owned businesses act as essential pillars for a developing economy like ours. Most micro, medium and small enterprises—barring some big business houses—are operating as family-owned businesses in Nepal, a scenario that we tend to witness both in India and Bangladesh. For instance, around 80 percent of the overall businesses in India are family-owned and operated. Though no precise official statistics are available for Nepal, it is estimated that around 85-90 percent of businesses are family-owned.