• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Contact

Daily Business Magazine

A magazine complement to the Daily Business website

  • Life, Arts & Leisure
    • Creative
    • Festival
      • Festival Reviews
    • Film
    • Food & Drink
    • Stage Shows
    • Life
    • Leisure
      • Rio Recommends – dog walks and cafes
    • Homes
    • Style
    • Travel
  • As I See It
  • Interviews
  • Notebook
  • Working Life
    • Craig Alexander Rattray
    • Careers & Management
    • Finance and legal
    • Technology
      • Bill Magee – Tech Talk
    • Well Being
  • Daily Business News
    • All Content

Business pressures putting strain on family life

August 27, 2018 by Terry Murden Leave a Comment

Health, stress, family, mental health
Stress is taking its toll on members of family businesses

Family businesses

Business owners say the pressures of work are putting an increasing strain on personal and family relationships.

Many are finding it hard to separate business from family life, with stress playing a big part in the breakdown of one or the other.

Research by law firm Aberdein Considine showed that more than three-quarters (78%) feel being in a family firm causes additional strain on their families and personal relationships.

More than eight out of ten owners (85%) said they found it difficult to separate business and family life, with 75% unable to switch off after work.

Family businesses in Scotland account for around 50% of all private sector employment and are responsible for roughly half the GDP created by private enterprise.

The high level of stress among owners suggests that the blurring of the lines between their entrepreneurial ambitions and their private lives could be having a negative impact, which could ultimately affect both their businesses and their families. 

Almost three quarters (74%) of owners cite debt in the family business as one of the main factors which affect relationships. Debt was the biggest issue for those in Dundee with 80% saying this affected their relationships, against 39% in Edinburgh.

Among the main pitfalls of being part of a family business, 73% of those surveyed in Scotland said it was too close to home, with just over a third (35%) suggesting they take things too personally.  Around one in five (22%) highlighted the challenge of managing family members as one of the toughest factors.

Across the UK, the survey also revealed the significant differences in views between those in large family businesses, and those who were part of smaller enterprises.

In larger businesses of 250 or more staff, 91% said there was additional strain whereas in smaller firms this figure was 46%.  Furthermore, 82% of those in larger companies found it difficult to keep work and family life separate compared to just over half (51%) in smaller businesses.

Naeema Sajid, family law partner, Aberdein Considine said: “Running and owning a family business can bring great freedom, flexibility and significant financial rewards but it also comes with certain unique pressures, not least the blurring of the lines between business and private lives. 

“Running a business will always require sacrifices, whether it’s a start-up or well established, and recognising and managing these pressures is vital and could well have significant benefits for both the business and families.

“Involving family members in discussions or taking advice at an early stage, can go a long way to reducing stressful and complex situations and it can also lead to better and more efficient decision making. It can also prevent unnecessary misunderstandings which can sometimes result in a longer term negative impact on the business.”

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Well Being, Working Life Tagged With: Aberdein Considine, Family businesses

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar



Editor’s Pick

Craig Alexander Rattray

Avoid falling into the cash flow traps

Craig Alexander Rattray

… [More...] about Avoid falling into the cash flow traps

Cairns Farm Estate

Farming family’s wedding venue is a labour of love

Julena Drumi

… [More...] about Farming family’s wedding venue is a labour of love

Boroughmuir-school

CALA promises top class connections at Boroughmuir

Julena Drumi

… [More...] about CALA promises top class connections at Boroughmuir

St-James-Quarter-18-April-2021

Trends, hopes and fears as shops reopen

Terry Murden

… [More...] about Trends, hopes and fears as shops reopen

Advertising


Footer

  • All Content
  • Site Map
  • Privacy Policy
  • Facebook
  • Twitter
  • Instagram
  • Email
  • LinkedIn
  • WordPress

Copyright © 2021 · Design by jPAD Consulting · Magazine Pro · Genesis Framework

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Functional

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

Performance

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

Others

Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.

SAVE & ACCEPT