Women have been commended for fostering collaboration and industralisation in family run businesses and enterprises. As it typically requires lots of commitment and resilience to maintain consistency across several generations with a strong priority on laying down a lasting legacy.
Hence, in a bid to equip stakeholders with insights and resources needed to inspire long-term success in family businesses, the Africa Family Business Summit, recently brought together practitioners and specialists, to discuss keys to achieving sustainability.
At the Summit, experts commended the dedication and perseverance of women folk towards successfully spearheading family-owned enterprises. As it is proven that women are becoming increasingly engaged in Small and Medium Enterprises front and run family businesses better.
Family Business Specialist, Janice Jafee, commended the massive presence of women in family business scene in Nigeria, adding that they foster a lot of collaboration and industrialisation. “One thing I’m seeing a lot in the Nigerian market is that there are a lot of women owned businesses and women starting businesses and this is happening in a lot of places too in the world, but it’s not as common as in Nigeria. I’m really impressed. It seems men and women are working much more together than in some other places. There are a lot of women who are business leaders here,” he added.
Founder of the Diamond Infinity Foundation, Amarachi Okorie, believes that there is a lot of work to be done regarding the cultural barrier in Africa, but women have continued to rise above these challenges to become successful family business leaders.
“The gender inequality issue still plays out in all ramifications, when it comes to African culture in general, as people do not accept that a woman can do better. Women are becoming the shepherds of this generation. Women are doing a lot of exceptional things. A higher percentage of people however, still don’t believe that a woman can spearhead a company or a family business and do well. If this kind of awareness is being created, it is going to get better.”
She added that there is a pressing need to improve enlightenment through similar conferences to sensitise the public on the fundamentals for building successful family businesses. “When there’s a lot of educational awareness, like what is going on here today, there will be a better scenario where people will not think of only themselves so ideas and resources are shared equally. If enlightenment on these issues is taken very seriously, I don’t think there will be a lot of problem in our society.”
Convener of the summit and Chief Executive Officer, Ravens Consulting GH, Dr Dennis Oteng, noted that a major issue with most family businesses in Africa is transitioning across generations, and the summit serves to shed some light on the keys for seamless wealth transfer between different eras.
“The purpose is to help build a community where opportunities will be given to family businesses. It is to help them with the knowledge for trans-generational wealth and business transfer. Wealth transfer is not just the business, because not everyone in the next generation would want to be involved in the business. We are talking about the wealth of the family and effectively transferring the business to the next generation,” he added.
The post At summit, experts highlight role of women in sustaining family businesses appeared first on Guardian Nigeria News.
Powered by WPeMatico
