Entrepreneurship and Family Business as Tool for National Development

Abstract

The role of entrepreneurship to national development cannot be over emphasized, hence the
growing popularity of entrepreneurship education in our high schools, colleges and universities
today. For entrepreneurship education to fully achieve its objectives, emphasis should be laid
more on establishing family businesses due to their advantages over non family business.
This paper therefore discusses the meaning, uniqueness, effective management, prevalence
and importance of family firms to national development. It is recommended that more
emphasis should be laid on family business management and succession planning in order to
reduce the problem of unemployment and its attendant consequences in the society.