As a business owner, you might have always dreaded the day that your parents are unable to look after themselves. You might be asking questions such as whether your business can continue and what your responsibilities are. However, you do not always have to choose between them. There is a third pathway and this guide will take you through it.
The Dilemma
Caring for elderly parents can have a massive impact on your business and your team members. However, you need to maintain an income even while looking after ailing relatives and it is sadly likely that your business will be there long after your parents. Do you truly want to see the company that you have spent so long building up deteriorate for a few years, and lose your purpose with it? At the same time, your parents are deserving of care and you will usually want to give all you can to them, so what can you do?
What You Can Do
To ensure that both your business and your parents are happy and healthy, you should start to make a plan for the future almost as soon as your parents hit retirement or develop an illness. This plan should include how you are going to keep your business surviving and how you are going to manage your finances, as well as those of your elderly parent. You might also decide to employ more staff that can handle the business if you have to be away more often.
You should also talk to your parents about the importance of your business and be realistic with them about how much time you have. You might also chat with them about other care options, including care homes. With you as a business owner, you might find that they are happier in capable hands that truly have the time for them that they need. It is important to find a good care home, though, and you might be able to contribute to the costs they incur with your income. By doing this, you will be able to act in a way that benefits everyone. For instance, you might look into residences such as Morris Care Home in Telford
You should also be honest when it comes to your employees, telling them early what to expect and explaining that you will not be around as much as you used to. This will give them time to close the gaps in their knowledge and build up to taking the reins, and you might be able to support their growth through different training schemes.
Solution
Instead of panicking about choosing between business and care, it is vital that you relax for your own health and welfare. All you can do is to provide as much care around work as possible around your job and fill in the holes with other types of care, such as at-home carers, who may be able to offer your relatives help while you are working. Both your business and your parents are important, and you should never think they are not. You just need to create a schedule that you can work with without burning out quickly and talk to a professional or your parents’ medical team if you are struggling to juggle it all.
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