About the Forum
The Importance of Family Businesses
Family businesses play a significant role in the private sector of the Ethiopian economy. The contribution of family businesses makes up the lion's share, for example, in import and export, manufacturing, education, agriculture, health, supply and distribution of consumer goods, hotel and tourism, construction, and other economic sectors which are not mentioned here. Therefore, ensuring the continuity of family businesses means directly or indirectly improving the country's economy by creating employment opportunities and building institutions that can move the country forward by achieving rapid growth and improvement in their respective fields.
The experiences in the developed countries clearly show and confirm this. Most global companies that are based in the Western world and whose products/services have become household names today, are family-owned businesses that have left an indelible dent in the economy of their countries. They stayed in their field for many years, continuously improving their products/services and ensuring their global competitiveness.
Family Businesses in Ethiopia
When we come back to our country, Ethiopia, family businesses are not growing as much as they could, due to a variety of challenges. Among these challenges, the main ones usually mentioned are issues on leadership, ensuring competitiveness, and well-thought strategy for the next generation of the family to successfully take over and continue the family business.
Ethiopian Family Business Forum
To address the above challenges collaboratively, HST Consulting PLC created a platform called 'Ethiopian Family Business Forum'. The forum is held in cooperation with family business owners, sectoral associations, higher education institutions, relevant government ministry offices, and research institutions working directly on the issue.HST organizes the annual flagship family forum event once a year. And to ensure that the platform provides constant support to family businesses;* periodic workshops will be organized based on global best practices using subject matter/industry experts and* locally relevant research papers on critical family business topics will be prepared and distributed for family businesses that are members of the forum.