Does those child not have other close relatives such as uncles or aunts? Usually those who are born as sole heirs have uncles or aunts who always stick to their parents' business and that often happens, I'm confused about what advice to give to that child, if he has good close relatives then he can continue the business he inherited his father but if he has evil relatives, he would be better off selling the business and going to college.
Yes, that's how it should be, if they have the uncles or aunts you mentioned above, of course they will not completely hand over to their children what their parents have built in the time required by their efforts which are not short. In my opinion, if he doesn't have relatives who are close to his father, like it or not, I think he should at least continue what his father built so that what his parents built doesn't just go to waste.
That is possible because a child may not be in the legal age yet but if we can arrange things and make it possible, I think I will still choose my child over them because it's my pure blood and then our aunts and uncles can have a dirty secret that we don't know.
I already heard the same scenario like this in the past, so I'm only trying to be careful here and don't want the same thing to happen with me and my child. Each of us has our own rights and even if it's the want of our parents, we are really sorry but we can still be against with it and instead follow what our heart is saying because we know that we are going to be more happy and contented with it, than the other way around.