Professionalising the linchpin to growing Kenyan family businesses into global enterprises

Family businesses are a vital part of the Kenyan economy, and the continuity and success of these businesses often depend on the transition from one generation to the next. In the Kenyan economy, it has been found that less than one-third of family businesses survive the transition from the first to the second generation, and half of those that survive, do not survive to the third generation. 

In my opinion, one of the critical factors that has contributed to the high rate of family business succession failure emanates from the business owners' inability to cope with the complicated procedure of passing over ownership as well as professionalising the daily running of the business as it grows.