Transitioning a family enterprise across generations or taking the leap to return home to build one is rarely a simple operational exercise. It is a deeply personal, strategic, and often emotional journey. As prominent international examples like GB Foods and Tolaram have shown, sustaining a multi-generational family legacy requires balancing foundational heritage with fresh, innovative strategies tailored to local markets.
At the recent family business conference session, leaders, academics, and entrepreneurs gathered to discuss the mechanics of succession, reputation management, and the unique realities faced by diaspora returnees stepping into family enterprises.
The diaspora journey: Unlearning to innovate
For many returning home to join or launch family enterprises, the transition requires navigating high expectations alongside established corporate cultures. Mena Kesiya Emu, CEO of the Lagos-based fragrance house Sisika, reflected on her journey moving from the UK to Nigeria, highlighting the mindset shifts necessary for growth.
“I really had to unlearn what team building looked like, I feel like growing up in the UK and going to school there, they teach you how to be workers, not necessarily entrepreneurs, Whereas here, everyone had an idea… everyone’s a bit of a hustler.” — Mena Kesiya Emu, CEO, Sisika.
Emu emphasized that building longevity in a business demands resilience, clear standard operating procedures (SOPs), and empowering staff to take operational ownership rather than relying solely on the founder.
From “Heirs” to “Architects”: redefining legacy
A central theme of the session was how the rising generation can move beyond simply inheriting a business to actively shaping its future trajectory. Rather than forcing identical business models onto new generations, established enterprises thrive when they encourage intrapreneurship and venture creation within the broader family structure.
Academic researchers at the panel noted that parents often ask the wrong questions when assessing succession.
“The old question that parents ask, is ‘Do you want to come back to the family business, or do you want to work outside?’ This is absolutely the wrong question to ask. The question that can raise success. is ‘Do you want to come back to the family business, and if you want to come back, we can provide you with funding so you can create your own venture?'” Conference Speaker & Researcher
By encouraging next-generation leaders to innovate through tradition much like Tolaram and GB Foods have diversified their footprints across consumer goods, manufacturing, and supply chains, families protect the core enterprise while creating new avenues for value.
Governance and Longevity: lessons across generations
Sustaining a family business over multiple generations requires robust governance structures to manage ownership dilution, leadership succession, and emotional dynamics. Drawing on European models of family business longevity, speakers emphasized early planning, clear communication, and formal family constitutions.
“Leading and managing a family business is much more complex than it appears because it’s emotional… You need to build strong and professional governance: establish very clear roles, responsibilities, and accountability for both family members and family business executives.” Prof. Dominique Turpin
Key strategies highlighted for long-term survival include:
Separating Economic and Voting Rights: Decoupling profit-sharing from decision-making control to maintain strategic alignment even as ownership expands
Share Buyback Mechanisms: Implementing family funds to buy back shares from non-operational family members, preventing deadlocks
Early Succession Planning: Preparing the next generation years in advance rather than making abrupt handovers.
Protecting the family name
As family businesses scale and navigate generational transitions, protecting the family name through strategic PR and reputation management becomes paramount. Nene Bejide, Chief Executive Officer of Blackchili, stressed that family businesses face distinct public relations challenges compared to standard corporations.
“Family businesses are different… because there are three pillars and everything is really based on trust, reputation, and succession.” — Nene Bejide, CEO, Blackchili
Whether navigating leadership handovers or market shifts, preserving the trust and reputation established by earlier generations remains the ultimate anchor for long-term impact.
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