Building A Lasting Legacy Through Family Businesses

Building A Lasting Legacy Through Family Businesses. With Heritage Month in full swing, South Africans are reminded of the importance of legacy, not only in culture but also in business. Family-run enterprises like Pietermaritzburg-based Capital Security exemplify how these businesses build lasting legacies through resilience, innovation, and strong family ties.

Founded by Jakes Singh in 1989, Capital Security has grown from a three-man operation into a successful security company that now employs over 100 security officers across 50 sites. Jakes’ two sons, Rinesh and Jashwin, remain integral to the business, bringing their respective expertise to ensure the company continues thriving in an ever-evolving industry. While Rinesh manages the technical side of operations, Jashwin leverages his accounting background to improve business systems and manage customer accounts.

Janeesha Ragubeer, area manager at Business Partners Limited, believes Capital Security demonstrates how family businesses can stand the test of time. “Family businesses like Capital Security embody resilience, loyalty, and a dedication to legacy. By working together, families can create more than just financial success, but a heritage that continues for generations,” she says.

For Singh, having his sons involved in the business is a key driver of its success. “The upside of a family business is that you know you have people you can rely on and who have your best interests at heart,” he says. “If I do well, they do well. Being with my family all the time motivates me to keep moving the business forward.”

This close-knit approach has allowed Capital Security to retain both staff and clients for decades. Many employees have been with the company since its inception, reflecting the family’s commitment to fair treatment and mutual respect. “We treat our staff with respect, and in return, they give us their loyalty,” Jakes explains. This loyalty has translated into long-term relationships with clients, some of whom have been with the company for over 30 years.

Ragubeer adds: “Businesses like Capital Security are more than just enterprises. They are part of the social fabric, providing jobs and security to their communities while passing down values from one generation to the next.”

Capital Security’s growth was further bolstered in 2017 when Singh approached Business Partners Limited to obtain financing to expand operations. This support allowed Capital Security to acquire new properties and grow its range of services. Today, the company even provides security services for several Business Partners Limited properties.

Ragubeer notes: “At Business Partners Limited, we take pride in supporting family-owned businesses like Capital Security. We understand the unique challenges and opportunities that come with running a family enterprise, and we are committed to helping these businesses grow and succeed.”

In South Africa, family businesses account for a significant portion of the economy, thriving across multiple sectors, from agriculture to retail, and increasingly, in private security. The security industry has seen exponential growth over the last decade, with more than 15,000 registered security companies now employing 2.8 million security officers across the country. Capital Security’s longevity in this competitive industry is a testament to the importance of strong family leadership, innovation, and the ability to adapt to an ever-changing market.

While Heritage Day encourages reflection on the past, it also highlights the importance of creating a future legacy, concludes Ragubeer. “Family-run businesses like Capital Security not only contribute to the economy but also preserve values and traditions that are passed down through generations. Through partnerships and dedication, the impact of these businesses extends beyond financial success, positively influencing the communities they serve and ensuring economic growth.”