Family Business In Nigeria Essay

Family businesses serve as the place where most family members are earning and enjoying a leaving. However, these businesses are often constraints as to the over dependency on the family members since it serves as the only survival means. Objectively, the study specifically determines the influence of family business establishment and employment generation for sustainability in some selected cities in Northern Nigeria. The study is empirical incline with its theory been anchored on Management theory of small business development by Amboise & Muldowney (1988), which mainly argued on managerial skills of an entrepreneur if plan his business against his predecessors, competitors, environmental factors, the effectiveness or other-wise of his managerial

The importance of family business to national and economic development in Nigeria and globally cannot be over-emphasized. It holds a strategic position in the Nigerian economy so much that it can even be said to be the backbone of the economy constituting 98 percent of all business units in Nigeria (CBN, 2010). The economic prevalence and importance of this kind of business are often underestimated. From the past 20th century, academics and economists were intrigued by a newer “improved:” model: large publicly and traded companies run in an apparently rational, bureaucratic manner by well-trained “organizational”

Usually, one member of a family has an idea for a business sizes and opportunities. It is apparent that family business plays an important role in all developed and most developing economics. They make up over 95 percent of enterprises and account for 60 to 70 percent of jobs in most countries. This term seem to be somewhat lower in the manufacturing sector, although it varies between 40 – 80 percent of employment in manufacturing (Zelleretal, 2006). Family businesses are mostly characterized at their level of significance and its peasant nature of small/medium scale. However, the following are also put into