Challenges surrounding succession planning in FamilyOwned Businesses in Zimbabwe: Views of the founding entrepreneurs of the businesses at Chikarudzo Business Centre in Masvingo District

Although of recent research attention is increasing focusing on family businesses, several studies focus on other factors than succession planning. Successionplanning is the fulcrum for continuance of the firm.The essence of succession planning is critically important taking into consideration the roles played by these kinds of business in the advancements of economies of the world. Family businesses are appraised because of the ability to create improvement and act as the nursery beds for nurturing the future generation of entrepreneurs.The aim of the study was to establish challenges surrounding succession planning in family-owned businesses in Zimbabwe.In this regard researchers have not agreed on a specific definition of family businesses but they tend to agree on various characteristics if it and definitions are inclined to these characteristics. In the study family business has been regarded as one that is owned and managed by the family members through the founding entrepreneur. The study was anchored in the qualitative research paradigm where a narrative inquiry research design informed the study. Sample was purposive to allow the informants with rich knowledge on family businesses participate in the data generating data for the investigation. Open interviews were used to generate data. The study found out that lack of communication, lack of appropriateness and preparedness of succession candidates, dysfunctional conflicts in families and the monolithic primogeniture were chief among challenges that surround succession planning in family businesses. Therefore the study recommended that there is need for transparent involvement of family in dialoguing on succession planning. Avoidance of conflict through participation and involvement of members in the management affairs of the business have the potential of reducing everlasting conflicts.