The Intersection of Family Characteristics and the Empowerment of Women-Owned Family Businesses in South Africa

Abstract

Abstract This chapter explores the intersections of family characteristics and business performance of women-owned family businesses in a collectivistic society. A cursory review of the literature revealed that although there has been a rise in the number of women-owned family businesses, they continue to face significant barriers. The literature cites gender and socialization barriers as factors that hinder women-owned ventures from growing. For instance, family and household responsibilities, the lack of access to resources, family and social relationships, and patriarchal succession practices are some of the challenges limiting women entrepreneurs. Against this background, this chapter evaluates how these challenges affect the performance and sustainability of women-owned family businesses in South Africa. The chapter highlights that the challenges are socialization and inheritance. The chapter suggests an understanding of family dynamics, tolerance of stress strategies and empowering women with both business and financial skills.