Family Businesses Are Unsung Heroes Of Our Economy: Sonu Bhasin, Independent Director & Business Author

India is a country of art, culture and heritage. One such heritage is family business which is being practised since ages. Family-owned business account for almost 80 per cent of the national GDP. Even our country has a separate law for such businesses under Section2(31) of Income Tax Act, 1961.

While discussing about the book, Sonu Bhasin, Independent Director & Business Author, says, “Every business, whether family business or non-family business, has a business strategy. But for family businesses, a family strategy is also needed. MSMEs are the backbone of any economy and most of them are family-owned. The objective is to build awareness about the fact that all family businesses need a family strategy, if they want to build multi-generational businesses.”

The book which is about Gujarmal Modi, is first among the series called ‘Entrepreneurs who built India’.

“Family businesses are the unsung hero of our economy. We know that they exist around us, but we don’t give them acknowledgement and respect that they deserve,” she adds.

Through her writings, she wants to bring out the people behind businesses and let masses know the stories of hardships and failures that they have gone through. So, that populous get to know that what they see has not come easy.