Opportunities associated with family-owned businesses in Thohoyandou
Ralivhesa Rendani Justice · Chiliya Norman ORCID ↗ · Muenda Kingsley Mutshidza ORCID ↗
International Journal of Research in Business and Social Science · 2026 · Vol. 14 / Issue 9 · 507-511
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Abstract
This study aimed to suggest strategies for running sustainable family-owned businesses in Thohoyandou, Limpopo Province, South Africa. While family-owned businesses contribute significantly to employment and local economic development, their survival is often threatened by challenges such as poor financial management, family disputes, inadequate planning, and lack of government support. Using a qualitative exploratory design, semi-structured interviews were conducted with ten family-owned businesses operating in diverse sectors. Thematic Content Analysis revealed that strategies for sustainability include strengthening financial management systems, investing in skills development, formalising succession planning, embracing innovation and technology, and building strong customer relationships. The study concludes that long-term sustainability can be achieved when family-owned businesses integrate modern business practices with their cultural strengths. It recommends structured training, adoption of governance mechanisms such as family councils, and targeted government support tailored to rural enterprises.
Keywords: {'name': 'Family-Owned Businesses; Sustainability Strategies; Thohoyandou'}
Authors & affiliations
Ralivhesa Rendani Justice
University of Venda
Chiliya Norman
University of Venda
Muenda Kingsley Mutshidza
University of Venda
Deposited references
Supplied references, not a list of publications citing this article.
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