April 4th 2021 at 18:55:42 GMT +0300
Nine out of ten businesses in Kenya are family-owned. Most of them are small, table-top enterprises with family members as the only employees.
Available data shows that they contribute about 60 per cent of employment in Kenya, which is huge. Unfortunately, if a family owned business survives the problems associated with early deaths of Kenyan start-ups, they tend to die with the founder.
Many businesspeople prefer to bequeath their estates to their children expecting them to flawlessly pass on the baton to their grandchildren and great grandchildren, believing that only their bloodline will protect their vision. Most times, they are dead wrong.
THE STANDARD By
Economy Desk |
April 4th 2021 at 09:10:00 GMT +0300
Nine out of 10 businesses in Kenya are family-owned. Most of them are small, table-top enterprises with family members as the only employees.
Available data shows that they contribute about 60 per cent of employment in Kenya, which is huge. Unfortunately, if a family owned business survives the problems associated with early deaths of Kenyan start-ups, they tend to die with the founder.
Many businesspeople prefer to bequeath their estates to their children expecting them to flawlessly pass on the baton to their grandchildren and great grandchildren, believing that only their bloodline will protect their vision. Most times, they are dead wrong.