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Saturday, May 18, 2024
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Dubai empowers family businesses: 90% family-owned private companies

Dubai supports family businesses, which constitute around 90% of private companies and serve as major employers for over 70% of the private sector workforce.90% of private companies owned by families': Dubai launches initiatives to empower  family businesses

  • A roadmap is in place to attract family businesses and ultra-high-net-worth individuals (UHNWIs) from across the world, contributing to economic growth.
  • Family businesses play a crucial role in various sectors, fostering Dubai’s economic diversification.
  • The Dubai Economic Agenda D33 sets ambitious economic objectives, creating promising prospects for family businesses in the emirate.
  • The rapid growth of financial wealth in the UAE is expected to drive expansion in the family business sector.
  • Initiatives address challenges such as digitization, governance, succession planning, and cultural issues, fostering sustained prosperity.Maktoum bin Mohammed inaugurates Dubai Centre for Family Businesses
  • Dubai Chambers launched the Dubai Centre for Family Businesses, offering educational programs and governance guidelines for smooth succession and business continuity.
  • The Centre’s initiatives include leadership training, governance standards enhancement, and raising global competitiveness.
  • Dubai International Financial Centre (DIFC) launched the DIFC Family Wealth Centre, the first of its kind, providing support services to unite and enhance family-owned businesses and UHNWIs globally.

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