WSJ Your Money Briefing
Why a New Generation of Workers Is Choosing to Join the Family Business
Apr 22, 2025
Many young professionals are now choosing to join family businesses, driven by economic challenges and evolving societal norms. The stigma around these jobs is fading, with personal stories highlighting both emotional connections and practical benefits. One graduate shares his journey from music to web consulting, showcasing how family ties can be advantageous. The podcast dives into the dynamics of working with relatives, where skills are matched to roles, and networking becomes intertwined with family relationships.
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Quick takeaways
- Young workers are increasingly choosing family businesses due to job market pressures, with a notable increase in participation over recent years.
- Joining family businesses offers unique advantages but also requires careful management of personal relationships to ensure professional productivity.
Deep dives
Rising Interest in Family Businesses
Young workers are increasingly opting to join their family businesses, with a notable increase of 13% in the past year and a doubling since 2018. This change reflects a shift from the past stigma associated with returning to the family enterprise, which was often seen as taking the easy route. Now, more young people are supported in this decision and view it as an exciting opportunity, particularly as pressures in the job market mount. Factors influencing this trend include concerns over job security in a changing economic landscape, including fears of AI replacing jobs, and the urgent need for succession planning by older business owners.
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