Commenting on the significance of the toolkits, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated, “The three toolkits developed is a continuation of our efforts in offering helpful and sensible guides on key matters for household enterprises. We’re dedicated to offering all technique of assist to them. The sustainability of household companies is necessary, and we’re dedicated to empowering them with the assist they should obtain continuity and profitable transition between generations.”
The Fostering Productiveness by Streamlined Household Communication toolkit gives steering on numerous areas together with the worth of household conferences, standing agenda objects and secretariat procedures. The Succession Planning for Household Companies information elaborates on finest methods for management transition processes.
The Household Workplace toolkit highlights the advantages and construction of a household workplace, and set up a strong governance and operational mannequin for the household workplace.
Household-owned companies make up roughly 90 per cent of the UAE’s personal sector. Household companies play a crucial function contributing considerably to Dubai’s non-oil GDP and using a considerable proportion of the nation’s workforce.
A lot of Dubai-based household companies vary between 55-70 years outdated, having been established throughout the Fifties and Nineteen Sixties.
The vast majority of these companies are anticipated to endure a generational transition within the subsequent 5-10 years.
Launched below the umbrella of Dubai Chambers in Might 2023, the Dubai Centre for Household Companies is entrusted with making certain the expansion and long-term sustainability of household companies in Dubai. The centre goals to additional develop this very important sector and improve its financial contribution to assist the emirate’s future growth plans.