It is believed that family businesses account for 80% of companies globally but despite this milestone, according to researchers, only 30% survive to the second generation, 12% transit into the third generation and only 3% reach the fourth generation.
This means that while many families start businesses, they quickly die once the proprietor dies. This also means that many proprietors don’t put in place measures that propel the survival of the businesses when they die.
The case is not any different in Uganda where children and close relatives struggle to carry on the business legacies of their fathers and grandfathers who dared to successfully start companies and businesses.
Well aware of this conundrum, Victoria University has organized a Webinar on Wednesday 14th October, 2020, between 11 am and 1 pm to discuss ‘The success and failure of family business in Africa’. the panellists are individuals who are privy to running family businesses.
The chief panellist is Prof. Maggie Kigozi, director Crown Beverages Ltd, Nicholas Opiyo, executive director Chapter Four Uganda, Gideon Kirumira, chairman, Trigger Enterprises Ltd and Natasha Sinayobye, an actress are the other panellists.
Like the other topical Webinars that have been organised by Victoria University, this too will be live-streamed on the University’s Facebook and YouTube platforms. The public has been invited to participate in this learning experience.