Business summary

Business Summary Studies indicate less than one out of 10 daughters belonging to Australian business owners are reluctant in undertaking their parent’s enterprises, but opt to establish their own (Heaney, 2013). Consequently, parents end trapped in these businesses even after attaining retirement age because no one seems to prefer running them on their behalf. The trend of establishing one’s own business is extremely widespread among daughters compared to young men, hence representing 9% and 36% respectively (Heaney, 2013). The Australian trend of children leaving their family businesses’ management under their elderly parents have prompted them end up surviving instead of thriving. Hence, result to employing of few workers because they do not have adequate resources meant to accommodate big work force (Heaney, 2013). Studies show the trend of having elderly people operating their businesses at an advanced age of more than 65 years is currently increasing from 20% to 25% (Heaney, 2013).
References
Heaney, C. 2013. Work’s no family affair-most daughters reject joining the business. NewsBank Australia’s Newspaper, 4Th July 2013.