There is lack of data on entrepreneurial successes in Africa. While there have been numerous research studies on entrepreneurship and family businesses in many regions of the world, there has been relatively little research done in the African context. This lack of research on entrepreneurial success in Africa is due to a variety of reasons such as the fact that most are relatively young and journals are typically housed in universities in developed economies. This chapter describes the success story of a family business in Africa. Specifically, this study sets out to determine the context of starting a family business in Africa: the motivation, type of business, family involvement and the mental attributes, and the challenges in starting and running a family business. Finally, this study recounts some of the lessons from the challenges and successes of the entrepreneur.
TopIntroduction
Today, less is known or researched about entrepreneurs in Africa, for example a review of literature on entrepreneurship carried out in the 1990s (Kent, Sexton & Vesper, 1986; Low & MacMillan, 1988) and in more recent time, carried little or no information about entrepreneurship in Africa (Bruton, Ahistrom & Obloj, 2008). This gap in the literature is more pertinent given the low economic development of most African nations and the pertinent role entrepreneurship can play as catalyst for economic growth and development.
The first purpose of this chapter is to try to begin to fill this gap in the literature by describing an African entrepreneur. Again, reviewing the literature on family business also indicates the fact that research on family business in Africa is substantially under-researched compared to other regions of the world. For example review studies carried out at the turn of the decade all confirm this lack of research and information on family businesses in Africa (Sharma, 2004). Indeed Sharma, Chrisman and Gersick, (2012), 25 years of Family Business Review, 25 years of review of the articles of the Family Business Review, one of the most influential journals in family business concludes by advocating for more research from under-represented regions.
The second purpose is to fill the smaller gap, more especially in the family business research area. In carrying out this dual purpose identified, this study will use interviews of an African entrepreneur. This approach to qualitative research has been identified as appropriate to undertake research because of the depth it provides (Chenail, 2009; Dawson & Hjorth, 2012).
The chapter will detail and describe a Ghanaian entrepreneur, who started a family business. Specifically the chapter seeks to: describe the context of the start of the family business, the type of business, the motivation behind starting, the challenges and successes (business performance), and its associated family relational challenges. Also this chapter seeks to describe what this entrepreneur sees as the key mental attributes needed to start and successfully run a family business and what he does to give back to society. Finally this chapter outlines some of the lessons from the challenges and successes of the entrepreneur and ends with some questions to help stimulate discussions by students.