A Family Business Is an Enterprise In Which Two or More Members Collaborate , Managed And Controlled the Family Business. India Have Glorified and Enrich History of Family Business. Over the Year, Family Organizations Have Faced Many Barriers, and the Position of Administration Has Shifted From Internal Leadership to the Collaboration of Outer Family Business Leaders. Reliance, Mdh, Tata Birla, Jio, Infosys Limited Etc. Family Businesses Are the Best Example of Successful Enterprises Over the More Than Three Generations. But Still Family Businesses Are Facing Major Problems and Challenges Like Confliction Between Family Members, Lack of Succession Planning, Lack of Training, Communication Gaps, No Written Documents, Sibling Rivalry Etc. If New Generation Respects Old Generation and Considers Their Experience And at the Same Time Old Generation Should Consider Creativity of New Generation, Then Family Businesses Will Have More Opportunities In Indian Economy. the Paper Starts With a Brief on the Past And Essence of Family Business In India, Accompanied By the Problems of External Business Leaders and Their Incorporation. We Would Also Discuss What Makes Effective and Golden Rules Methods Needed to Save The Business In the Family.Existing Literature on Family Businesses Brings Out Their Significance Globally. The Prevalence of Family Businesses Is a Phenomenon That Is Universal and Found In Most Countries Worldwide, Although Their Relative Impact on Economies Does Vary. This a ...