I worked for a family-owned company right out of school. They employed their children and grandchildren and it made for the weirdest dynamics. If you had a run in with the wrong member of the family you got canned. And then there was the nepotism...

Everyone knew that the owner's son was going to take over the company but that didn't make it any more palatable. The company designed and sold circuit boards. The son had an engineering degree but wasn't a good engineer. One of the boards he designed took ten board spins (revisions) to get right. That's crazy. Anyone else would have been fired. Instead he was made VP of Sales over Europe.

He loved getting paid to work in Europe. I'm not sure if he actually sold anything. But after seven years in Europe he moved back when the owners were ready to retire. They bought him a house on the water and a yacht. And he took over.

I can't say that I would want to work for a family business again.