Creating a Culture of Enterprising Women through Succession Planning

Abstract

One of the potent mechanisms of ensuring economic empowerment and equitable distribution of wealth among women in Africa is through entrepreneurship and succession planning. Consequently, this paper reports an empirical analysis of female entrepreneurs in Ghana in relation to their business and succession planning intentions. The study revealed that though respondents would want their businesses to outlive them and possibly transfer the business to their children or family members, only few of such entrepreneurs have a formal written succession plan. The paper therefore discusses the implications of the findings in relation to sustainable women empowerment through succession planning.