Family Business is a Serious Business
Ben Grossman a fresh graduate from Columbia Business School had a choice between a lucrative full time job at Goldman-Sachs or work for his family's business; he opted for the latter. Today as the co-president of Grossman Marketing Group, he shares, "In a family business, you need to be able to work well with family and make successful transitions from the boardroom to the dinner table."
In India family run business dates back towards the end of the 19th century, which marks the advent of business in India. It started off as a protest against the British government under the Swadeshi moment and today family business accounts for a staggering 95% of all Indian companies. Biggest examples of family run firms which have held sway for more than a century, with conglomerates are Tata, Birla and Reliance dominating industries from steel to telecoms and are really successful.