Family-owned businesses are the backbone of the global economy. From Walmart and Ford to Samsung and BMW, some of the world’s biggest companies have been run by families for generations. In Kenya, family-owned businesses are also prevalent, such as BIDCO Africa, Chandaria Industries, and the Kenyatta family’s vast business empire. However, one of the biggest challenges faced by family businesses is generational transition. As the older generation retires, it is essential to ensure a smooth and successful transition to the younger generation. In this article, we’ll explore 10 ways to reinvent generational transition in family businesses, drawing on best practices from around the world.

As we all know, running a business is never an easy feat, especially when the economy is going through tough times. Cash flow management is essential for every business owner, but it becomes even more critical when the economy is in a downturn. In this article, we’re going to discuss some practical tips on how to keep an eye on your business cash flow during hard economic times. So, grab your cup of coffee, and let’s get started!