expect a decline in sales growth in 2020
say that their digital capabilities are not strong
have no governance policies
believe sustainability will drive future growth
Nigerian Family Businesses (FBs) have had a challenging year but rewarding as well. They have had to face tremendous headwinds with the currency issues and stock market fluctuations in addition to the pandemic. Despite this, our survey findings show they have been resilient and growth is slowly returning to the market. Gaps exist in areas such as governance and sustainability.
Families also need to start thinking about how to protect their legacy and getting the NextGen upskilled to be able to professionalise their organisations. The time to act is now if family businesses want to keep their legacy for future generations.
Our report provides insights and makes recommendations for Family Businesses and other stakeholders.
Watch the launch of the survey. Our special guests and panelists share insights on how family businesses can protect their legacy..