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  • Category: Miscellaneous

    Parental business in India is a good custom

    In India, more than 65% entrepreneurs are from their parental / ancestral businesses. And most of the business is controlled by family members only, which is really a great technique of an organisation and company. What you think?

    The Youngest but Richest Entrepreneurs in India:
    1. Akash and Isha Ambani, 25: The twins of Mukesh Ambani are owner of US$43 Billion Reliance Industry.
    2. Aalok Shanghvi: Son of second richest person of India Dilip Sanghvi owner of Sun Pharmaceuticals.
    3. Roshni Nadar Malhotra, 34 is the CEO of HCL, the only daughter of Businessman and philanthropist Shiv Nadar.
    4. Adar Cyrus Poonawalla, 35: Son of Adar Poonawalla, CEO of Serum Institute of India, world's largest vaccine production company. He personally spent $15 million last year to clean Pune city.
    5. Kavin Bharti Mittal, 28: Son of Sunil Bharti Mittal, CEO of Bharti Enterprises, India's biggest telecom industry.
    6. Anand Piramal, 31: Son of Ajay Piramal, Piramal Group owner
    7. Ananyashree Birla, 21, eldest among three children of Kumar Mangalam Birla. She started a microfinance business 'Svatantra Microfin' for rural women empowerment at the age of 17.
  • #571997
    Apart from the corporate giants, family business is continued even in unorganized small and micro sectors also because of other reasons. Most of businesses involve trade tricks which are passed on from generation to generation in the family. Since such businesses are not carried out ethically, the outsiders don't know the tricks of the trade. Malpractices like under measurement, adulteration, tax evasion and such other practices are in vogue in most of the businesses in unorganized sector. Certain trades like jewelry business is notorious for cheating of the customers. The reputation and brand name earned by certain trading firms also enables the next generation to continue even if they are incompetent. Even in the doctor's firms (hospitals, nursing homes, clinics etc.), they get their children admitted in a private medical college by paying a hefty donation, so that the family profession can be continued.
    Let us encourage each other in sharing knowledge.

  • #572019
    Large business or small one, continuing parental business is a good one whether for Indian or out side Indian. The main benefit is the business tactics can easily be followed by the son or daughter. The customers can have trust if the business is run by family. The longevity of business tenure will get extended for further more years. Unemployment problem is getting diminished. In Udupi,Karnataka an aged person doing his business of preparing and selling different special sweets and got a good business in the city and have customers from many places in and around the city. By seeing his venture, his son,well educated, who was working in abroad with a good salary left his job and joined with his father. Similar people are there silently in India.


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