Family businesses have historically been an integral part of the Middle Eastern entrepreneurial landscape. Today, 75 % of all businesses in the Middle East are family run, yet astonishingly only 5 % survive the third generation due to a lack of strong succession strategies. With this in mind, the widely anticipated Leaders Presents 2008 Family Business Forum is designed to address the unique challenges facing family owned businesses to establish crucial succession strategies needed to survive and succeed.
‘Leaders Presents’ Divisional Director Alan Kelly declares they have purposefully timed the Family Business Forum – taking place at the breathtaking Emirates Palace Hotel from May 26 – 28 2008, now in its 10th year, to run alongside the Leaders in Abu Dhabi event allowing a whole week devoted to the specific issues facing family owned businesses and business leaders in the Middle East.
Event Director, Purva Hassomal stresses the uniqueness of this year’s event, “We have brought together an outstanding line up of speakers hailing from the US, Italy, the UK, Europe and across the Middle East region to focus on today’s foremost challenge for family business leaders: how do you not only survive the third generation but survive in today’s global fast-paced economy as a family business?”
One of the many highlights of the forum is set to be the release of Ernst and Young’s long awaited 2008 Middle East Family Business Survey results. “Rami Nazer of Ernst and Young will reveal what promises to be some surprising findings on the biggest challenges and priorities for Middle East family businesses today as well as what characterises the most successful families in the region” Kelly claims.
For the first time in the Middle East and sharing his expertise at the forum, renowned family business guru; founder of Gersick and Lansberg Associates and leading author of Generation to Generation: Life Cycles of the Family Business, Kelin Gersick. “Gersick will delve into family leaders’ number one priority: strategic planning to enable future generations to cope with and grow their wealth,” remarks Hassomal.
Other experts to address the forum include father and son team Tony and Narain Jashanmal; the iconic Mohammed Al Fahim; Italian companies Burani Designer Holding and Aletti Montano & Co; regional legend Edmond Moutran, Chairman of Ogilvy and Founding President of the Family Business Consulting Group Dr Albert Thomassen.
The Family Business Forum will conclude with an exclusive invite-only Family Business Leaders Retreat. The first of its kind in the GCC region it will take place at the magnificent Al Maha Desert Resort & Spa on the 27 and 28 May 2008. “The retreat will bring together a handful of top leaders and CEOs who will experience an innovative and unique tailored leadership training day focussing specifically on strategy for the family business,” enthuses Kelly.
For those not attending the retreat, a post forum workshop, hosted by Penny Lovell of Fleming Family and Partners, will deliver specific tools and strategies for managing a family’s wealth and sustaining continued growth.
BNP Paribas Private Banking and Ernst & Young are proudly sponsoring the Family Business Forum and the Abu Dhabi Chamber of Commerce and the Department of Economy and planning have lent their full support behind both Leaders in Abu Dhabi and the Family Business Forum. Both events are also supported by media partners Emirates Business 24 7, Emarat Al Youm, 103.8, Noor Dubai, Arabian Business, Arabian Business.com and The Times, Sunday Times and Oman Economic Review.
