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Opportunities associated with family-owned businesses in Thohoyandou

Author

Listed:
  • Ralivhesa Rendani Justice

    (University of Venda)

  • Chiliya Norman

    (University of Venda)

  • Muenda Kingsley Mutshidza

    (University of Venda)

Abstract

This study aimed to suggest strategies for running sustainable family-owned businesses in Thohoyandou, Limpopo Province, South Africa. While family-owned businesses contribute significantly to employment and local economic development, their survival is often threatened by challenges such as poor financial management, family disputes, inadequate planning, and lack of government support. Using a qualitative exploratory design, semi-structured interviews were conducted with ten family-owned businesses operating in diverse sectors. Thematic Content Analysis revealed that strategies for sustainability include strengthening financial management systems, investing in skills development, formalising succession planning, embracing innovation and technology, and building strong customer relationships. The study concludes that long-term sustainability can be achieved when family-owned businesses integrate modern business practices with their cultural strengths. It recommends structured training, adoption of governance mechanisms such as family councils, and targeted government support tailored to rural enterprises. Key Words:Family-Owned Businesses; Sustainability Strategies; Thohoyandou

Suggested Citation

  • Ralivhesa Rendani Justice & Chiliya Norman & Muenda Kingsley Mutshidza, 2025. "Opportunities associated with family-owned businesses in Thohoyandou," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 14(9), pages 507-511, December.
    • Handle: RePEc:rbs:ijbrss:v:14:y:2025:i:9:p:507-511
    DOI: 10.20525/ijrbs.v14i9.4580
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