Top Challenges of Family Businesses in the Philippines

Families in the Philippines value privacy very much. Filipinos tend to keep problems to themselves.

There is a cultural stigma among Filipino families to seek external help. With a country that has a high premium for image, status, reputation and shame, getting external professional help can be challenging and uncomfortable. This is even much truer and stronger among families who own and operate businesses. But what is the tipping point? When is it too much to take, that family businesses raise the white flag and feel the urgency of being attended to. There are several and diverse situations and motivations for a family in business asking for help. What are they? Is there a common trend?.