Economies cannot be built on a whim. There must be an engine which drives their growth and it’s called the
private sector. Even in the context of flourishing economies where the public sector is calling the shots,
there is a thriving private sector working behind the scenes. And as society is a collection of small
communities, so is the large portion of private sector is made up of family businesses.
Throughout centuries, we have witnessed the influence of family businesses [FBs] in shaping the trajectory of their country’s economy. They have proved their potential to outlive their founders and economic contexts they were created in. Economies of most wealthy nations, though they are covered under the veil of a corporation, we will find their lasting family founding, influence, and identity when we dig deeper under the surface.
Unfortunately, in many developing and emerging economies like Ethiopia, because of many factors, the development of FBs doesn’t seem to pass from their first generations of founders. Their importance and role in creating sustainable economies also seems to be missed from the business schools curricula. It is as if they come as they go with no one noticing. Their ubiquity gives the sense as if they are a natural phenomena, and no one seriously tracks their history, their triumphs, and challenges. Little or no learning can be found on the fingerprint they have on employment , and GDP contribution. Hence, the anonymity of support and enabling environment for them to flourish. Ethiopian Family Business Forum [EFBF] is established to change this scenario. FBs need to get the attention they deserve. The body of knowledge showing their contribution to the economy needs to be studied and the essential tools and processes to support their growth must be in place.
EFBF conducted its first consultation forum on March 10, 2023, with the presence of Ethiopian Family Businesses [EFBs], and relevant stakeholders, making the above critical issues as its major agenda. With its official launch of the forum scheduled in few months, its conducting its first survey on EFBs to learn about their challenges and the required support needed for their growth. The survey will run annually to help track the development of EFBs.
The results of the survey will make a great contribution to learning about the positive influence of EFBs to the country’s economy and to lay out the proper groundwork that can help support and sustain their growth. Therefore, if you are a founder of a family business on the verge of transferring the company to second generations or if you are already a second/third/fourth generation running the company, please fill out the survey. We thank you in advance for your contribution on the development of Ethiopian Family Businesses. If you have any further questions, please don’t hesitate to contact us on firstname.lastname@example.org or by calling on 0913851505.