Dubai Family Companies Center launches 3 consulting services

The Dubai Family Companies Center, which works under the umbrella of Dubai Chambers, launched 3 specialized consulting services designed to support the sustainability and growth of family companies in the long run and enhance their governance, as these qualitative services aim to advance the integrated capabilities of all family companies operating in Dubai in a way that enhances their readiness for the future, and supports their capabilities to keep pace with the developments of the economic scene, face challenges and investing promising opportunities.

This step comes within the framework of the commitment of the Dubai Center for Family Companies to enhance the contribution of family companies to the growth of the national economy in a way that serves the future development plans of the emirate, by upgrading the competitiveness of this vital group of companies by protecting their interests and organizing their activities, and investing in the skills of their leaders to sustain their future.

“Family companies are a vital driver for growth, diversity and innovation in the Dubai Economy System, and the sustainability of their success represents a real guarantee to improve the competitiveness of the emirate and stimulate their sustainable growth. The Dubai Family Companies Center is keen to support these companies and enable them to keep pace with economic transformations and adopt international best practices in a way that reflects positively on the development of the private private sector and consolidate A flexible and sustainable business environment that contributes to the consolidation of Dubai’s position as a leading global center for trade and investment.

The list of consulting services provided by the center includes the status assessment service and the review of the family charter, which provides an accurate evaluation of the reflection framework approved in family companies, including a comprehensive review of the current family charter, by taking advantage of the mechanical tool to assess the governance of family companies provides to the center to assess the maturity of their governances compared to organizational requirements, best practices, and standards followed Globally, in addition to conducting special interviews with the main stakeholders in the company and the family to determine the gaps and challenges in the approved structures, while making implementable recommendations to improve their status.

This service provides assessing governance frameworks, identifying gaps and risks, enhancing compatibility between stakeholders, and provides recommendations specially designed to enhance governance mechanisms and ensure long -term growth.

As for the second service, it includes the formulation of the family charter, which provides a strategic road map for family companies by helping to identify policies, governance structures, and the necessary decision -making operations to ensure the sustainability of companies in the long term. This process is based on visions derived from interviews with family members and main stakeholders in the family company.

The service, through expanded workshops and discussions, included the participation of all family members and compatibility between them, which supports the design of a charter that embodies their vision and collective values, as well as defining clear criteria for nomination and eligibility for the administration, and improving the decision -making processes of the company’s administrative bodies.

Consequently, this service determines the roles and responsibilities, the formulation of vision and common values, and enhances open dialogue, as it establishes clear rules to prevent any conflicts in the future in the future.

The third service is the planning of the family office, which constitutes a special platform dedicated to the management of wealth, investments and financial affairs for the family.

The center organizes workshops with the aim of clarifying the concept of the family office, introducing its basic, and supporting families in setting the goals of their offices, and the scope of the services that will be provided, in addition to determining their requirements from cadres and employees.

Moreover, this service helps to clarify the purpose and framework of the family office’s work and its strategic goals, and also explores the full range of wealth management and inheritance management services, and determines the main skills and roles needed to create a successful family office.