Succession Planning and Family Business Continuity: Perspectives from Lagos State, Nigeria

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Olubiyi, Timilehin Olasoji
Olubiyi, Timilehin Olasoji
2
Olubiyi
Olubiyi
3
Timilehin Olasoji
Timilehin Olasoji
1 Babcock University

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Environment scrutiny has shown that family businesses are the common form of business in Nigeria and their going concern has generated academic debate and public discourse worldwide. Yet, the features orchestrating continuity in these family businesses are different and geographically diverse. One of the major issues to which this can be attributed to is the uncommonness of adequate succession planning practices. The objective of this paper is to examine the effect of succession planning on family business continuity in Lagos State, Nigeria. A survey research design was adopted for this paper with 503 selected SMEs operating in Lagos State as the target population. Taro Yamane sample size method was adopted and data was collected through the use of structured questionnaire adapted and validated for the study. The Cronbach’s alpha coefficient for the questionnaire items ranges between 0.850 and 0.775. The questionnaire response rate was 93.20%. The gathered data were analyzed using descriptive and inferential (Pearson product moment correlation and regression analysis) statistics.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Olubiyi, Timilehin Olasoji. 2026. \u201cSuccession Planning and Family Business Continuity: Perspectives from Lagos State, Nigeria\u201d. Global Journal of Management and Business Research - A: Administration & Management GJMBR-A Volume 22 (GJMBR Volume 22 Issue A5): .

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Alt text: Sustainable development and business continuity in Nigeria's Lagos State.
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GJMBR Volume 22 Issue A5
Pg. 27- 34
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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July 2, 2022

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Environment scrutiny has shown that family businesses are the common form of business in Nigeria and their going concern has generated academic debate and public discourse worldwide. Yet, the features orchestrating continuity in these family businesses are different and geographically diverse. One of the major issues to which this can be attributed to is the uncommonness of adequate succession planning practices. The objective of this paper is to examine the effect of succession planning on family business continuity in Lagos State, Nigeria. A survey research design was adopted for this paper with 503 selected SMEs operating in Lagos State as the target population. Taro Yamane sample size method was adopted and data was collected through the use of structured questionnaire adapted and validated for the study. The Cronbach’s alpha coefficient for the questionnaire items ranges between 0.850 and 0.775. The questionnaire response rate was 93.20%. The gathered data were analyzed using descriptive and inferential (Pearson product moment correlation and regression analysis) statistics.

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Succession Planning and Family Business Continuity: Perspectives from Lagos State, Nigeria

Olubiyi
Olubiyi
Timilehin Olasoji
Timilehin Olasoji

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