Inter-generational Business: A challenge or an Opportunity for Family business

Family business is best tradition that we can pass on to next generation, so many benefits the next generation will get if they continue with their family business. Though this system has certain disadvantages also, there are 2 objectives of this research paper 1. How first generation is transferring their business to next generation? 2. Is next generation ready to take over the business of first generation? This paper will help to understand the opportunities as well challenges faced by new generation while continuing the family business. Various literatures analysed for this research as a base and survey has been conducted on 1st and 2nd generation for this research. After conducting research data revels that both generations face the problem as well as they found the good opportunity to develop the business.