Factors Influencing Successful Succession Transition of Small Family Businesses in Pakistan

The purpose of this empirical study is to examine the factors which contribute towards the sustainability of small family businesses from one generation to subsequent generation in Pakistan. Family business's roletowards the economic stability of any country is undeniable. A purposive sampling technique was used to fill the close-ended questionnaire by the founders and successors of subsequent generations who were currently participating in business operations. Pearson correlation and multiple linear regression modelswere implemented to analyse the primary data. The results of this study show that governance board, strategic planning and customer focus management have a significant positive association with the family business succession process. So, independent governance board, business strategies and customer focus management can contribute to increasing the survival rate of family business in Pakistan.