The Pros and Cons of Working for a Small or Medium-Sized Family Business | Part I

Written by: Maria Shishkova Managing Partner, AIMS Bulgaria

Traditionally, many people associate their dream career with growth in a large international corporation. Undeniably, the scale is inspiring, the opportunities are numerous and diverse, and the compensation and benefits packages can be particularly attractive.

Twenty-five years ago, I would have wholeheartedly affirmed that, for professional development in Bulgaria, working for a solid international company was the best path for ambitious, intelligent, and hardworking individuals. Foreign companies, representing some of the most reputable names in their sectors, brought with them high standards, principles, and work rules previously unknown in Bulgaria’s socialist past.

Around that time, I came across the book What Color Is Your Parachute? by Richard N. Bolles. It offered a different perspective from someone who had lived and worked for a long time in a developed economy. One of the pieces of advice in the book was to explore career opportunities in small and medium-sized family-owned businesses. At the time, this idea sounded strange in Bulgaria, where such businesses often operated deep in the informal sector, making the advice less convincing. Richard Bolles advised to carefully evaluate a company’s culture rather than be swayed by the prominence of its brand. 

Today, this advice no longer sounds so exotic and professionals frequently face a major career decision: whether to join a corporate giant or choose a small or medium-sized family business. While global corporations offer prestige and resources, family-run businesses provide a unique work environment that can be both rewarding and challenging. Whether you're an ambitious young professional or an experienced expert considering a career change, understanding the advantages and disadvantages of family businesses can help you make an informed decision. In this article, we will examine some of the advantages of working for a family business, while in the second part, to follow, we will analyze the potential disadvantages to consider when choosing an employer.

1. Greater responsibility and learning opportunities

In family businesses, employees often wear many hats. A marketing specialist may be involved in product development, while a financial expert might participate in operational decision-making. This multifunctional environment allows individuals to develop a diverse skill set and gain hands-on experience more quickly than in many large organizations, where roles are typically more narrowly defined. If you're eager to grow your career rapidly and enjoy varied responsibilities, a family business may be the ideal setting to accelerate your professional development.

2. Closer relationships and stronger company culture

In smaller teams, employees in family businesses often feel closer and more valued. Unlike large corporations, where hierarchies can be rigid, family companies usually foster a more direct and informal work environment. Employees have easy access to the CEO or senior management – often family members – which enables greater visibility, dynamism, and direct relationships. This leads to faster decision-making, adaptability, and market responsiveness, and the workplace feels more like a close-knit community than a corporate machine.

3. Flexibility and stability

Family businesses tend to adopt a long-term perspective rather than focusing on short-term profits. This often results in a more stable work environment, with decisions made with care for people and a focus on sustainability. Moreover, without multiple layers of bureaucracy, changes can be implemented quickly, facilitating innovation and responsiveness to market trends. Employees often have the freedom to experiment with new ideas and take ownership of projects without getting bogged down in lengthy approval processes. For those who thrive in a dynamic entrepreneurial environment, a family business offers an exciting opportunity to make a visible impact on company performance and even its future direction.

4. Recognition and career growth

In large corporations, employees may sometimes feel like just another cog in the machine. In family businesses, hard work is more easily noticed by senior leadership and more likely to be recognized and rewarded. Promotions and rewards are often based on merit rather than just seniority, giving ambitious employees the chance to climb the ladder more quickly. If you’re looking for a workplace where your contributions are noticed and valued, a family business may be the right option.