Fund management in family businesses

[摘要] The South African economy depends to a significant extent on the continuity andsuccess of family businesses as they have the ability to generate significant wealthand jobs on a much larger scale than any other business. It is therefore veryunfortunate that family businesses that form such a vital part in the economy ofSOUTH AFRICA have such a low success rate. One of the main contributing factorsto the low survival rate of FBs is the lack of or non-existence of proper fundmanagement and governance that have an influence on the financial sustainability ofthese businesses. This field study examined the importance of implementing newsystems and procedures as identified by management and staff of the familybusinesses with the aim of improving fund management, in order to ensureincreased sustainability in family businesses.Furthermore, this field study identified and discussed specific benefits andimplications of a well-established fund management culture. The researcher used amixed method approach in analysing present fund management practices in familybusinesses. Questionnaires, focus group interviews and individual interviews withthe executive management and family members of family businesses were appliedto identify areas of improvement within the fund management model, together withthe participants' views of how improvements can be addressed.Subsequently, the researcher applied the findings to identify practices that arerequired as part of efficient fund management to formulate a model fundmanagementframework that family businesses can implement and maintain toensure increased sustainability in family businesses.

[发布机构] University of the Free State