Faizal Bhana, Director – Middle East, Africa and India, and An Kelles, Director – GCC discuss the evolving landscape for family businesses across the Gulf region, focussing on the region’s leading economies – the UAE and the Kingdom of Saudi Arabia.
The article highlights how the past three years have been a challenging period for family businesses navigating a global pandemic, broken supply chains and an energy crisis.
Yet, despite these significant obstacles, we have seen how events have served to accelerate developments across many industries, whether it is sustainable finance, digitalisation, or the requirement for new skills.
These changes have impacted almost all types of businesses across many sectors and is perhaps most evident in the family business landscape. Businesses have had to rise to the occasion, responding by placing innovation, collaboration, and ingenuity at the heart of solutions. It is paramount that they continue to do so.