Dubai Chambers enables family businesses to meet the challenges of the business environment

The Dubai Family Business Center, which operates under the umbrella of Dubai Chambers, recently organized the latest “Governance Series” seminars with the aim of reviewing the sustainability elements of family businesses and enhancing their ability to adapt in light of the rapid changes taking place in today’s business environment.

The chambers reported, in a statement yesterday, that the symposium, entitled “Protecting the Legacy of Family Businesses in Light of Global Transformations,” focused on ways to enable family businesses to face complex challenges, while preserving their legacy extending across generations, and establishing their continuity.

The session was attended by 35 representatives of family businesses in Dubai, and included a direct dialogue with an elite group of speakers, including Vice Chairman of the Board of Directors of Seddiqi Holding, Osama Seddiqi, and Chairman of the Board of Directors of the Emirates Pasta Factory, Ahmed Balyouha. The two speakers presented inspiring visions about ways to enhance the continuity of ancient family companies, adapt to challenges and changes, and consolidate their readiness for future generations.

Director General of Dubai Chambers, Mohammed Ali Rashid Lootah, said: “The legacy of family businesses depends on the successes of the founders’ generation, and is linked to building a sustainable business model capable of adapting to economic transformations and future changes.”

He added: “Effective corporate governance, empowering young leaders, and enhancing operational flexibility are among the basic pillars for ensuring the continuity of family businesses and enhancing their competitiveness in the long term, while preserving the values ​​and principles that represent the basis of their identity and course.” The session provided practical insights on how family businesses can manage transformation stages and achieve sustainable growth in the long term, in light of market fluctuations and changing customer expectations. The speakers also discussed the importance of strengthening governance frameworks, effective planning for leadership succession, and working within a unified vision that ensures that family businesses are able to preserve their legacy and enhance their readiness for the future with confidence and sustainability at the same time. The “Governance Series” falls within the framework of the ongoing efforts made by the Dubai Family Business Center to support family businesses, as it includes a group of educational seminars that address pivotal topics that are essential for effective leadership succession planning, which enhances regulatory compliance and long-term business success.

The series also allows participants to benefit from the experiences of other family businesses and strengthen their organizational frameworks.