Overview ENTREPRENEURSHIP IIIB (ETP3702) MARKS 70 LECTURER: DR RM KHOSA ASSIGNMENT 6 DUE DATE: 10 NOVEMBER 2023 A family business an organisation that in which either the individuals who established or acquired the firm or their descendants significantly influence the strategic decisions and life course of the firm. The chief reason why family businesses fail is lack of a written succession plan (Tatoglu, Kula & Glaister, 2008). Furthermore, only 30 per cent of family businesses are successful in the second generation (Nieman & Niewenhuizen, 2009:221). Failure in succession represents a crucial problem, not only to family enterprises and their employees, but also to the prosperity of the South African economy. With the above in mind, you are required to choose a registered small family-owned business that has employees within your community. Your objective for this assignment is to interview the owner and get an understanding as to why they do not have a written succession plan/ or the