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| A new report shows that growth is strong and prospects are bright for family businesses and private companies in Kenya. |
Nairobi; Kenya: Family businesses need to adapt to the changing environment to stay ahead of the competition, a new study says.
According to the PricewaterhouseCoopers (PwC)’s global report, family businesses should upgrade their processes, governance and skills to take on “hungry new competitors”.
The company notes that while in the short term, the prospects for family businesses are good, continued success would depend on their ability to further professionalise their business by keeping pace with technological change, and formalising succession planning.
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