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Ethiopian Family Business Forum 2023

Ethiopian Family Business Forum 2023

Ethiopia's first Family Business Forum, launched in March 2023, tackles a long-overlooked issue: empowering family businesses, crucial to the nation's economy. Through presentations, discussions, and surveys, the forum explored global best practices, support options, and legal frameworks to help these businesses thrive.

The forum's presentation delved into exploring the unique characteristics and challenges faced by family-owned businesses. Here are some key topics covered:

Family Businesses: Defined and showcased their global economic impact. Explored their advantages (long-term perspective) and challenges (transitions, conflict).

Stage-Specific Challenges: Addressed unique issues at different growth stages.

Ethiopia & Global Best Practices Discussed Ethiopian-specific issues and best practices from around the world.

Support Ecosystem: Advocated for collaboration from government, associations, and experts.

Legal Framework: Explored Civil Code's impact on family businesses, focusing on family trusts.

The forum's panel discussions highlighted challenges faced by Ethiopian family businesses. These included skill gaps, resistance to innovation, limited involvement of external professionals, and difficulties in financing and succession planning.

Panelists offered solutions such us:

Professionalizing management and fostering family communication,

Planning for generational business transitions and

Exploring alternative financing models

Videos from EFBF 2023

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