The Intricacies of Female Successors in Family Owned Businesses

Abstract

As a result of shortage of female successor due in part to gender bias succession practices, this study was necessitated to look at encumbrances against women successors of Family Owned Businesses (FOBs) in Anambra State. The broad objective of this study was to examine female successors and sustainability of family owned businesses. The work adopted a survey research design. The population of the study was 415 FOBs in Anambra State. Complete enumeration method was adopted so as to get the full opinion of all firms on gender issues and female succession. The data for the study was collected through structured questionnaire. A combination of descriptive (mean) and inferential statistics (chi-square) were deployed in the data analysis. The result showed that there are obstacles that have substantial effect on women becoming successors of FOBs in Anambra State and that sexism play a statistically significant role in determining successors in Anambra State. Sequel to this, it was concluded that women and men in Anambra State do not have a level playing ground in determining who becomes a successors of FOBs in Anambra state as there are hurdles women face and these obstacles have significant effect on who becomes a successors. Hence, the recommendation was that successors of FOBs should not be based on gender but on capability and the provision of level playing ground for both the female and male genders in the succession dynamics.