Family businesses are a big phenomenon around the world and they seem to propel economies of nations. In the US, they are estimated at 5.5m, accounting for 57% of the nation’s GDP, employing 63% of the workforce. In the UK, they are about 5.1m (2018), accounting for 87.6% of all private sector firms at that time.
Nigeria posts about 24m, accounting for about 50% of all businesses in the country and contributing around $200bn to the national economy annually.
A family business is indicated as a commercial organization in which family members are involved in its management and ownership. They are grouped into three; family-owned, family managed, and family-owned and managed.
Their major problem is said to be the battle in decision-making between family-first or business-first decisions as well as succession crisis. One such family business in Aba town led to attempted assignation in the family.
Experts studying the scenario have identified marriage as a big factor in managing family business. Often, family members jump into a business out of necessity or exigence. No rules are often stated from the onset. When pressures begin to pull and the power of cash emerges, love turns to hate and cash becomes thicker than blood.
Read also: The Third Generation Dilemma: Corporate governance challenges in Nigerian family businesses
Gladys and Timothy Opata, family matter experts and marriage counselors, a model couple, think they have an idea or answer. They tabled this Saturday evening, October 18, 2025, at the Redemption Hall Model Parish (RHMP) of the RCCG Area Parish on Station Road in Elelenwo in Port Harcourt. It was the Men’s Fellowship Couples Dinner staged by John Udochukwu, the President.
Mummy Gladys took the stage to show how solid marriage bound in love and intimacy would help the family to navigate difficult matters including family business, bank accounts, and disclosure issues.
According to her, both man and wife must come clean and one must have the interest of the other at heart, else, its no Christian marriage in the first place.
On bank accounts, she suggested for each couple to apply what works for them.
The key to marital intimacy, she deposed, is that one must embrace what makes the other happy; movie, football, games, storytelling, etc.
With such oneness built with love and intimacy, all other businesses and decisions go well; why? Because, they are selfless.
