The best thing to do is a family business, but you have to avoid problems.
Usually, the best family business is a restaurant where you work together and develop it. Also, people like to see the owner of the business always there.
While if it is providing services, you have to build a good reputation and choose a business that you can develop and pass on to generations.
However, the problem is in who will be the leader? The best way is to have a mechanism for every decision that is based on voting and not based on age or intelligence.
This allows everyone to participate and vote in meetings. At least more than half of the attendees should be present, and the same goes for voting, plus one more.
If the votes are equal, the idea should be amended, discussed, etc.