Family-run ASX businesses have a number of advantages compared to typical non-family-run businesses.

The family management usually plan to be around for a long time, if not forever. That means they can make very long term decisions and stick around to see it through.

Family-run business management is also likely to be very shareholder aligned. This means, if regular shareholders suffer then management will suffer too. It also means that the management remuneration is less likely to cause them to take large risks like huge acquisitions.

2 Family-Run ASX Businesses

Washington H. Soul Pattinson And Co. Ltd (ASX: SOL)

This could be one of the longest-operating family-run businesses in the world.

According to WHSP, more than 40 employees have worked for the company for over 50 years. Five generations of the Pattinson family have served the company, as have three generations of the Dixson, Spence, Rowe and Letters families.

WHSP is an investment house with investments in a diverse portfolio of assets across a range of industries including natural resources, building materials, telecommunications, retail, agriculture, property equity, investments and corporate advisory.

Some of those companies include TPG Telecom Ltd (ASX: TPM), New Hope Corporation Limited (ASX: NHC), Brickworks Limited (ASX: BKW), Australian Pharmaceutical Industries Ltd (ASX: API), Bki Investment Co Ltd (ASX: BKI) and Milton Corporation Limited (ASX: MLT).

The diversified nature of WHSP’s holdings have allowed it create decent returns through all points of the economic cycle.

Reece Ltd (ASX: REH)

Reece is Australia and New Zealand’s largest bathroom and plumbing business, it also supplies irrigation, civil works and HVAC products. It has over 600 locations and recently expanded into the USA via an acquisition called MORSCO.

With Reece onto the third generation of the Wilson family playing its part in growing the company, investors have long-considered Reece a well-run business that is focused on long term decisions and returns.

The US expansion opens up a large new growth avenue for Reece, particularly because MORSCO operates in the fast-growing sun-belt region of the US where population growth and construction should drive profit higher there.

Another Promising Founder-Led ASX Business

From 2,000 to 2 ASX Growth Shares

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Over the past five years, these two shares have gone from being 'tiny caps' to being serious contenders for the ASX 200.

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Idea #2 uses a 'printer and cartridge' type model to get large and established customers: a) using their healthcare industry-leading product, b) paying for it again and again and again... so it's little wonder this company is tipped to grow at a rapid pace in 2019.

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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).