Ever inherit a business?

[Grant]

Has anyone here ever inherited a business? Maybe your family ran a shop and when they died they gave you the legal right to take it over. I never inherited a business, but if I did I would do my best to make it as profitable as possible.

If you did inherit a business, how is it doing now?

 

[Heatman]

Personally, I have never inherited any business but that doesn't mean that there is no business for me to inherit when the time is right for me to do so because my family runs a spare parts auto shop company which my junior brother is management right now and it's entitled into my inheritance when the time is right.

 

[Nomad]

I have inherited farm land from my parents. I belong to a farmers' family and the land I have inherited has been in the family's possession for many generations. Since I have inherited land, I can continue with my family business, i.e. farming. maybe I will move to my farm in old age and start farming business.

 

[Good-Person]

Personally, I have never inherited any business but that doesn't mean that there is no business for me to inherit when the time is right for me to do so because my family runs a spare parts auto shop company which my junior brother is management right now and it's entitled into my inheritance when the time is right.

Right now, my family is not running any kind of business. However, there are chances that they may start a new business sooner. I think that families should discuss matters related to business with their children and ask them about their interest and business prospects. this encourages children to engage in business even more.

 

[Skysaint]

Those who inherit a business are those whose parents are actually running a business and that could be passed down to you as their heir. But that's not in my case as my parents are not business owners.

 

[Henrywrites]

Those who inherit a business are those whose parents are actually running a business and that could be passed down to you as their heir. But that's not in my case as my parents are not business owners.

There are also times where your uncle or aunt can also pass down a business to you. Maybe because they trust that you are the person in the right place to be able to handle that business. So, it is not always about getting offers to manage a business from your parents that can occur. Sometimes, a friend can even do this for you.

 

[Heatman]

Those who inherit a business are those whose parents are actually running a business and that could be passed down to you as their heir. But that's not in my case as my parents are not business owners.

Yeah, that's very correct. Before you can inherit a business, there's definitely a business on the ground already for the person to inherit. It's always very important to make sure that the person who's being handed over the business have interest in handling it so the business doesn't fold up.

 

[Good-Person]

Yeah, that's very correct. Before you can inherit a business, there's definitely a business on the ground already for the person to inherit. It's always very important to make sure that the person who's being handed over the business have interest in handling it so the business doesn't fold up.

Well, I think that inheriting business alone is not a really special thing. managing the business with the right kind of intention and skills is something that matters the most. I have seen many people inheriting business, however, they never managed it in the right manner. In the end, they suffered a lot.

 

[Heatman]

Well, I think that inheriting business alone is not a really special thing. managing the business with the right kind of intention and skills is something that matters the most. I have seen many people inheriting business, however, they never managed it in the right manner. In the end, they suffered a lot.

I would have to disagree with you in this assessment that inheriting a business is not really a special thing because it is a special thing as far as I'm concerned. When you know the kind of work that is required for you to start a business from scratch and grow it to the point where it is going to be passed on to another person to continue managing the business that have already been successful, you will not say that it is not a special thing.

 

[Henrywrites]

Yeah, that's very correct. Before you can inherit a business, there's definitely a business on the ground already for the person to inherit. It's always very important to make sure that the person who's being handed over the business have interest in handling it so the business doesn't fold up.

The biggest factor that should be considered when handing the business to another person is the interest that they have in the business. Someone that doesn't bother about what is happening in the business can never succeed when they are given the business to handle.

 

[Heatman]

The biggest factor that should be considered when handing the business to another person is the interest that they have in the business. Someone that doesn't bother about what is happening in the business can never succeed when they are given the business to handle.

Skills, Knowledge and Understanding about the business are something that should be evaluated to make sure that the person whom is being handed over the business have them in abundance. This is because that is the only way the person can be able to maintain and manage the business without running it in the ground and destroyed everything another person have worked hard for.

 

[Henrywrites]

Skills, Knowledge and Understanding about the business are something that should be evaluated to make sure that the person whom is being handed over the business have them in abundance. This is because that is the only way the person can be able to maintain and manage the business without running it in the ground and destroyed everything another person have worked hard for.

You can have the skills, knowledge and understanding of how the business works, but when you don't have interest in the business, you are not going to go far in doing anything in setting the business in the right path. I mean one that have interest can learn about the business as they get more involved in handling the business as well.

 

[Heatman]

You can have the skills, knowledge and understanding of how the business works, but when you don't have interest in the business, you are not going to go far in doing anything in setting the business in the right path. I mean one that have interest can learn about the business as they get more involved in handling the business as well.

Yeah, that's very correct too. But I believe that in a situation whereby someone have already undergone the process of acquiring the skills, knowledge as well as an understanding about a particular business, it means that the person already have interest in that business to go that far to acquire all those upgrade on his personality.

 

[Good-Person]

Yeah, that's very correct too. But I believe that in a situation whereby someone have already undergone the process of acquiring the skills, knowledge as well as an understanding about a particular business, it means that the person already have interest in that business to go that far to acquire all those upgrade on his personality.

In our country, many people allow their children to step into the business world at an early age. They train them. By the passage of time, they become learned individuals. They become experienced by the time they reach their 20s. This is how things work. However, on the other hand, there are many people who struggle and they never inherit any kind of business. They end up getting a job and this is how they spend their lives.