Challenges and Problems of Professionalizing Family Businesses in South-East, Nigeria
B. Chima Onuoha

This article is on the challenges and problems of professionalizing family businesses in South-East, Nigeria. The survey covered the commercial cities of the region. The study revealed that family businesses are not professionalized because of the following challenges and problems – unincorporated enterprises, lack of succession plan, unawareness of government policies on entrepreneurship development, high operational costs, financial constraints, poor infrastructures, competition, multiple taxes, etc. It is against this backdrop that the paper made far reaching recommendations which include the roles of family businesses themselves and governments and their agencies. Overcoming these challenges and problems is the appropriate direction to having professionally and well managed enterprises, contributing positively to the nation’s GDP and ready for generational transfer.

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