Key organisational health building blocks for family business success

Leadership expert Paul Wanyagah. [Courtesy]

Family-owned businesses have for a long time played a bigger role in the global economy, perhaps more than is appreciated. For example, it is estimated that family-owned businesses today account for more than 70 per cent of the gross domestic product (GDP) globally, and over 60 per cent of global employment.

It can therefore be concluded that family businesses are the predominant type of business organisation in every economy in the world, as they play a significant role in creating employment in the private sector, while boosting gross domestic product.