Family Business (Noun)
Meaning
A corporation that is entirely owned by the members of a single family.
Classification
Nouns denoting groupings of people or objects.
Examples
- The large restaurant chain had been a family business for generations, with the founder's grandchildren now at the helm.
- She decided to leave her corporate job to help her parents manage their family business, a small retail store in the neighborhood.
- As the youngest son in the family, he was groomed from a young age to take over the family business, a thriving real estate company.
- The family business had been struggling since the recession, and it was up to the new CEO to turn things around.
- After graduating from college, he joined the family business, a steel manufacturing company that his great-grandfather had founded in the 1920s.