For many family businesses, capital is the lifeblood needed to scale. However, without governance reforms, funding comes at a steep price, often from informal lenders or at punitive interest rates. By helping companies strengthen internal structures, Skystone has enabled them to secure credit ratings and access capital markets for the first time. With better ratings, these firms are able to borrow at significantly reduced costs, freeing up resources for expansion, job creation, and innovation. One success story highlighted by Olabinjo involved a company that, prior to Skystone’s intervention, had no formal rating. Today, it enjoys an “A” rating, tapping the market with ease and positioning itself as a potential industry leader.

Research and real-world examples highlight why governance is central to the survival of family-owned firms. PwC’s survey revealed that while Nigerian family businesses are highly entrepreneurial, only 16% have documented succession plans. This creates uncertainty when founding figures step aside, often leading to disputes, fragmentation, or outright collapse. Globally, family businesses also face this challenge. A Harvard Business Review study found that only 30% of family-owned companies survive into the second generation, and just 12% make it to the third. The lack of structure and formal governance is often to blame. In Nigeria, this reality is evident. While some family-owned brands like Innoson Vehicle Manufacturing, Coscharis Group, and Eleganza Industries have managed to grow into household names, many others have stalled or disappeared due to succession disputes, poor governance, and overdependence on founders. Skystone’s intervention, therefore, is not just about helping businesses secure funding. It is about addressing the structural weaknesses that make many Nigerian enterprises vulnerable.