Reluctance to inherit

"One problem for family businesses is that sons and daughters of business founders often have their own ideas and interests and are unwilling to take over the family business," said Shi Ping, an official from the Federation of Industry and Commerce in Shengzhou City, Zhejiang Province.

The Beijing-based Legal Mirror newspaper conducted a survey on succession issues in July. The survey showed that less than 20 percent of children of business founders want to take over their parents' enterprise.

College graduate Zhu Xiaofeng has dreamed of opening a restaurant for years but his parents oppose the idea.

"My parents don't think running a restaurant is a good job, and they are trying to persuade me to stay in the family business," he said.

"A friend of mine chose to work in a bank instead of taking over his father's company. His parents were furious. They called him a bad son," Zhu said.

Shi Ping said, "Apart from differences in interests, often the offspring of entrepreneurs lack the ability to successfully run the family business."

Unlike their parents who often came from nowhere, many children of business owners grew up amid affluence and are used to indulging themselves in lavish lifestyles, said Zhang Ming, professor of political studies at Renmin University of China.

They lack the ability to endure hardship and take on responsibility, Zhang added.