Exploring The Challenges And Performance Of Family Business In Tanzania

The study was about family business Tanzania;it was conducted in Tanzania in a few selected regions,which are Dar es Salaam,Dodoma,Morogoro,and Mwanza.The study explores the challenges and performance of the family business in samples regions of Tanzania.It is examined the performance of the family business in Tanzania,to assess the challenges facing family business in Tanzania and to examine the relevance of family business in today's business environment.The study used data from four selected regions where twenty respondents were interviewed.The study employs the qualitative approach with randomly sampled respondents.The findings of the study show that family business in Tanzania is performing reasonably well,despite the challenges that come across.Also,the findings show that family business is affected by political,economic and marketing challenges whereby;marketing challenge it shows that competition in business is one of the challenges facing family business in Tanzania.Economic challenge it shows that economic instability affects family business.It shows the circulation of money is low due the to the government economic reforms were undertaken by the current regime.Furthermore,the political challenge reveals that the political reforms undertaken by the government affect family business.Council's officials and some revenue collectors misinterpret central government directives,and hence estimations on revenue are high.Moreover,the study shows that the former family business is still relevant in today's family business in Tanzania.The study concludes that family business performs reasonably well in Tanzania despite the marketing,political and economic challenges.Furthermore,family business should be encouraged to exist as it helps in poverty reduction among family members also create employment.