The Family Business: These Partners Are Building Generational Wealth Through Entrepreneurship – Essence
Who says you can’t mix business with personal relationships?
Beyoncé and Jay-Z, Venus and Serena, Jada and Will, The Wayans—these are just a few celebs whose joint business deals have brought in millions. But outside of celebrity stardom, more and more Black families—whether spouses, siblings or parents and offsprings—are emerging as partners, not just as a relatives, but in business as well.
The goal? To successfully run a business enterprise and build Black generational wealth at the same time. Of course, it takes effort and energy to ensure that such familial partnerships prosper. Working together every day and maintaining a solid connection means being committed to good communication, setting boundaries and knowing when to separate the job from the relationship, especially if strong personalities are involved.
But while operating a company always comes with challenges, especially when growing and scaling your enterprise during a global pandemic, family members in business can rely on unique bonds to help them thrive in uncertain times. It’s been said that a family that gets money together, stays together—and if the success of these ventures is any determination of how these power partnerships will continue to thrive, we’re banking on their future.
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