Family business and succession in developing economies: the Nigerian perspective
by Catherine Abiola Oluwatoyin Akinbami; Oluwabunmi Opeyemi Adejumo; Folashade Oyeyemi Akinyemi; Temitope Favour Jiboye; Joshua Funminiyi Obisanya
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 38, No. 1/2, 2019

Abstract: Studies have shown that despite the enormous business activities in Nigeria, family businesses appear fragile and less successive. This incessant discontinuation of family businesses often add to the already high business failure rates in the economy. Therefore, this study is conducted to find out the reasons why family businesses in Nigeria do not thrive beyond the third and fourth generations. Using qualitative and explorative research, case studies were carried out among business owners in Ile-Ife Community, in the South Western Nigeria. Responses were analysed with Atlas.ti to bring out various thematic issues from the data collected. The results suggest that most business owners have succession plans but vary in their implementation approaches. Fundamentally, their succession plans are being affected by their family structures and successor's personal interest. Also, the findings suggest that business owners who have gone beyond the first generation sustained their businesses through innovative strategies.

Online publication date: Mon, 30-Sep-2019

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Entrepreneurship and Small Business (IJESB):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com