Family and business is a powerful  mix and there are lots of great family business dynasties around the world.  Successful family firms have clear distinctions between family and business, and the interactions between the two, are usually well managed and properly governed too.

Avoiding certain mistakes at the outset can really help in terms of both success and longevity and whilst not necessarily front and centre of your mind when starting a business, there are some good pitfalls identified here that all family firms would do well to avoid in order to give them a better chance of personal and business success.