The death of a family business soon?
My family has been into the construction business ever since I can remember. My dad who is a civil engineer pioneered Mallari Construction way back in the 80’s and soon my mom joined him to manage the company when she resigned from her day job when I was 5. Since then, the construction business has been our bread and butter. My parents managed to give me and my siblings a very comfortable life all these years thanks to building houses, bridges, school buildings, covered courts, and repairing roads. Through time, they also managed to buy equipments of their own and even rents them out now which my dad said is a good money making business too.
Lately though, with the hard times we are facing each day, the economy going down, it has become more and more difficult to earn as much with every projects my parents get to close. It’s just not the same as before as they would put it. Construction material prices are sometimes way over board and sometimes, by a stroke of bad luck, they also get to deal with people who are dishonest and who doesn’t hold true to contracts signed. One time, my parents even resorted to sending stop notices as materials or equipments my parents supplied to the work of improvement has been furnished but not paid for. I wonder why there are certain people who just don’t know how to do business at all. But what can my parents do? Nothing, as they don’t know of any other business alternative because all these years, they have dedicated their time and effort to their one and only construction business which I doubt will last for another five years because of the terrible economy crisis we are experiencing now.



One Comment
1. Thomas Deans commented on July 10, 2008 at 10:23 pm
Family Businesses can be difficult — A great gift of love would be to send your parents a copy of my new best selling book Every Family’s Business: A Blueprint For ProtectingFamily Business Wealth
The book will show them and you how to protect their business.
Best of luck and good planning,
Tom Deans Ph.D.
Author
wwww.ProtectingFamilyBusinessWealth.com