The Role of Family Entrepreneurship Business in Driving National Economic Growth in Nigeria

Nwabuatu; Emmanuel Nnajiubah Ph.D

doi:10.56201/jbae.vol.11.no10.2025.pg92.98

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The Role of Family Entrepreneurship Business in Driving National Economic Growth in Nigeria

Nwabuatu, Emmanuel Nnajiubah Ph.D

Abstract

Family businesses significantly contribute to national economies through job creation, innovation, and Gross Domestic Product (GDP) growth. These enterprises, which range from small businesses/one man or sole proprietorship to multinational corporations, provide long-term economic stability due to their sustainability-oriented approach. This paper examines the economic impact of family-owned businesses.

Keywords

Family businesseconomic growthentrepreneurshipsuccession planningnational development

References

PwC. (2021). Nigeria family business survey 2021: From trust to impact. PwC. (2024). Global family business survey 2024. Tharawat Magazine. (2023). Economic Impact of Family Businesses: A Compilation of Facts. Tharawat Magazine. (2023). The economic significance of family businesses worldwide. The Guardian Nigeria. (2023). 23.8m family businesses contribute $200b to Nigeria's economy yearly. The Guardian Nigeria. (2023). Family businesses and employment generation in Nigeria. Visual Capitalist. (2023). The Influence of Family-Owned Businesses, by Share of GDP. Wikipedia. (2023). Miracle on the Han River.

The Role of Family Entrepreneurship Business in Driving National Economic Growth in Nigeria

Abstract

Keywords

References

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