Money Morals: My son works for me but he's not pulling his weight. Should I sack him?

n our Money Morals series we invite readers to help solve a dilemma. This week if you employ a member of family and they aren't working hard enough, should you get rid of them?
I run a small manufacturing business and my 35-year-old son has been working for me for the past six years, unfortunately after a bright start he has stopped pulling his weight.
I'd be looking to get rid of any other member of staff but I want my son to eventually take over the business.

You're fired: Lord Alan Sugar, the star of BBC's The Apprentice, is famous for his sacking of contestants. His sons successfully work for family-connected businesses.

He had a handful of jobs after university but nothing serious and hadn't really found a career, so he asked me if I would consider taking him on in the family business.
I said yes but that he wasn't getting a plum job and that he would initially have to start near the bottom and work his way up.
He took this in good spirits and worked quite hard when I first took him on. He is clever, gets on well with people and understands the business, so I promoted him a couple of times.
He certainly climbed the ladder quicker he would otherwise have done, but I am 63 and ultimately I want the business to stay in the family and would like to retire or take a step back at some point before I am 70.
That meant I was delighted when he showed an interest and ideally want to get him to the point where he is my deputy and can spend a good few years working along side me at a high level.
Unfortunately, over the past 18 months or so, he has stopped working hard and despite some cajoling from me he has completely failed to pull his socks up.
If this was anyone else I would be looking to replace them. Ideally, I want a family member to run the business but not if it is going to prove to be its downfall.
What should I do persevere with my plan, or sack my own son?

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