How to start and run a business with a family member

There are more than 5m family businesses in the UK. They employ 14.2m people and generate a quarter of UK GDP. Many people who start a business do so with a family member, whether their spouse, partner, sibling, son or daughter or other relation. And although there can be many pros to going into business with family – there can be cons.

So, what’s the key to getting it right so that the business is successful and family relationships are safeguarded? We ask Fiona Graham of the Institute of Family Business, who provides tips that could also help you if you’re thinking of going into business with a colleague or friend.

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This series is brought to you thanks to the support of Dell Technologies. Our partnership with Dell means you get top products at special prices and a personalised consultation from a dedicated tech adviser who will get to know the goals of your business. Find out more by emailing the Dell for Startup UK representative at UKSTARTUP@Dell.com