Blood is thicker than water, but can your family business survive?

Family businesses form the backbone of South Africa’s commercial landscape, but they face a unique set of challenges that can threaten their longevity. Succession planning, family disagreements, financial management, innovation, and professionalism are critical areas that need to be addressed for these businesses to thrive across generations. Implementing effective governance practices, encouraging open communication, adopting sound financial management, embracing innovation, and nurturing a culture of professionalism can help family businesses navigate these challenges successfully. With real-world examples such as African Rainbow Minerals and Reinet Investments, learn how you can secure the future of your family business.