African family dynamics and�family business � a�perspective article

Abstract

Purpose: Despite the potential benefits of family businesses, their dynamics present peculiar challenges that hinder the realisation of their full potential. This paper sought to assess the relationship between family dynamics and business development in Africa. The authors explored the dynamics of African family structures and how these structures impact family businesses. Design/methodology/approach: The paper adopted an analytical and interpretative approach to existing literature and contemporary practices in family business operations. The approach helped to synthesise emerging trends in family business operations and offered novel insights into family-owned businesses. Findings: The findings revealed that, though family businesses have a lot to contribute to development, family dynamics can threaten their sustainability if not well moderated. Based on the findings, the authors recommend trust and transparency as critical pillars for sustained family-owned business growth. They recommend further that communication channels, documented policies and procedures and well-established feedback channels are strategies that can guide stakeholders in family businesses to build trust and transparency in the business. Originality/value: The paper throws light on the unique contributions of family businesses to communities and individuals and the Sustainable Development Goals (SDG). It is also an eye-opener to this relatively grey area and opens deeper discussions about sustaining family businesses. � 2023, Emerald Publishing Limited.