Family business concerns in Fiji: an empirical investigation

Abstract

Family business entrepreneurs in Fiji were surveyed for their views on the impact of business and family factors on the viability of their firms in the past five years and for the next five years. The business factors examined for their impact on family businesses were adoption of technology, attracting strong non-family executives, access to qualified employees, customer pricing demands, employee education, government regulations and taxes, costs of labour and materials, access to capital, e-commerce and economic and political stability. The family factors examined were choosing and preparing successors, family employee compensation, family conflicts, financial expectations of non-active family members and consensus on family values and mission. There are statistically significant differences of opinion on the impact of business and family factors in the past five years and for the next five years that point to substantially increased concern about economic stability in Fiji. The findings of this research should help the Government of Fiji, commercial banks, business organisations, educational institutions and training/productivity organisations to have a better understanding of the problems that family businesses are encountering in Fiji.