Manila Times
Thursday, March 09, 2006
Business, family don’t mix for most traders
By Rafael A. Santos, Researcher
ONLY three in every 10 businessmen in the
In a statement the auditing firm said on Wednesday that most businessmen seldom talked about their financial concerns at the dinner table, with this trait most prevalent among proprietors of small and medium enterprises.
The study attributed this to the dominant belief among businessmen that family and business do not mix.
In contrast, heads of big enterprises appear to be more receptive to the idea of discussing business over meals, mainly because larger companies usually have a long history behind them. They are also more likely to have family members already involved in the business.
“I believe that this is a positive indication that the business has become part of the family’s culture and identity,” says Antonio Herbosa, principal for corporate finance at P&A. Herbosa added that “discussing business over lunch or dinner, even in small talk, plays a major role in imparting trade secrets and business values early on to the younger family members.”
P&A is a member of Grant Thornton International, one of the world’s leading organizations of independently owned and managed accounting and consulting firms. At present, P&A is the only accounting firm in the
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