Deloitte Private

Are family businesses doomed to fail? Not necessarily, says the author, if the challenges are addressed and the right actions are taken.

Family businesses are fundamental to the business landscape of the Middle East and are intrinsic to the region’s economy. The challenges faced by today’s family businesses are perhaps greater than ever: competing in a more turbulent environment dominated by pluralistic social values, intensified competition, a global economy and rapidly changing politics and regulation.  

Families in business gain great personal, operational and market advantages by their very nature, but the added complexity of family matters becoming intertwined with business matters cannot be ignored.

Leaving a legacy is more than bequeathing the ownership of a family business to one’s successors and expecting them to carry on the family name