Family businesses urged to hire professional managers for longevity
Business leaders, especially those running family businesses, have been urged to seek professional managers to run their ventures if they are to sustain them. Family-led businesses account for approximately 12% of the 200 largest companies in the country. However, only a handful enjoy longevity. The survival rate of most family businesses beyond the founder’s generation is low. This was discussed during the annual Enjovu Business Forum, which brings together family-led businesses in Kampala.
