The Dynamics of Succession and Challenges in Family-Owned Export Businesses: A Narrative Inquiry in Sialkot Pakistan

Abstract

This paper explores the complexities of family businesses in Pakistan, focusing on succession planning, gender discrimination, and nepotism. Using qualitative methods, we conducted semi-structured interviews with 10 second-generation family business owners to gain insights into these challenges. Findings reveal that unplanned succession, gender biases, and nepotism affect business efficiency and longevity. Key factors for successful succession include education, trust, and clear role definitions, while effective financial management and preserving core family values are essential for sustainability. The study highlights the need for strategies that promote inclusive cultures and merit-based decision-making. Despite limitations such as a small sample size and regional focus, the research offers valuable guidance for business owners and researchers, advocating for fair practices and sustainable business practices to enhance community well-being and resilience.