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If you have good business sense and you know that this is the right move, then you should be able to explain and demonstrate to your family how this will benefit them in the long run. If your business is incorporated, then your business and personal assets are separate in any case. If things don’t go according to plan your family is somewhat protected. If you are operating as a sole-proprietorship or a partnership, then things could be riskier.
Your family should feel comfortable with your decision, if possible, but you are the one running the business. The final say is yours. Get all of the best information available and make an informed decision. If you don’t feel confident doing the assessment yourself, hire a business consultant who has dealt with these kinds of issues before. Other support professionals, such as lawyers and accountants can also offer important perspectives about growing your business.