Women’s role in family business highlighted
Dubai, March 25, 2012
The Dubai Women Business Council (DBWC) shared its insights on the role of women in the success of family businesses in the GCC during the recently concluded American University of Sharjah (AUS) Business Forum 2012.
Organised under the theme "Family Businesses in the GCC: Challenges and Opportunities in the Global Economy", the forum examined the impact of the global economic meltdown on family businesses as well as issues related to leadership, succession, governance across generations and participation of women in the family business.
“Family businesses will continue to play a greater role as economic catalysts for the region,” said Raja Al Gurg, president of DBWC.
“The AUS Business Forum is therefore taking the right step by supporting the growth of family businesses through high-profile discussions that explore fresh opportunities and identify evolving challenges being faced by family businesses in the GCC. Dubai Women Business Council strongly supports such initiatives as it complements our efforts to encourage more women to become involved in the socioeconomic development of the Arab world.”
During the forum, Al Gurg pointed out that family businesses, which account for some 90 per cent of businesses in the Middle East, have a major role in the region’s growth, job creation and competitiveness. Their sustained success is key to the region’s long-term economic development, she said.
“As family businesses deal with the challenges posed by the financial crisis, increased international openness of the Gulf region as well as their own expansion, they need to adopt newer ways of running their business and managing their wealth in order to remain competitive and sustainable,” Al Gurg said.
“Most importantly, family businesses need to put in place strong corporate governance and succession planning framework,” she added. – TradeArabia News Service