Dubai Center for Family Businesses launches new corporate governance toolkit

He Dubai Center for Family Businessesthat operates under the umbrella of Dubai Chambershas developed a new guide aimed at helping family businesses cultivate sustainable growth by implementing effective corporate governance.

He ‘Corporate Governance Guidelines for Family Businesses’ The toolkit focuses on key governance structures, governance frameworks and regulatory guidelines for family businesses.

The launch of the new toolkit reflects the centre’s ongoing commitment to providing practical guides on the key topics of interest to family businesses. It follows the publication of six guides during 2023 that address key areas affecting the continuity of family businesses and aims to support their long-term sustainability and competitiveness.

His Excellency Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chambers, commented,

“Family businesses are an essential part of our economy, contributing significantly to Dubai’s non-oil GDP and employing a substantial proportion of the country’s workforce.”

Your excellence aggregate:

“These companies play a vital role in driving economic growth and we remain committed to encouraging them to follow best practices in corporate governance that support their continuity and ensure the successful transition of leadership between generations. The success of family businesses drives economic activity and contributes to achieving the goals of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy over the next decade.”

The new guide to Dubai Center for Family Businesses Highlights the importance of corporate governance for family businesses, describing the key bodies and documents involved. With family businesses making up around 90% of private businesses in the UAE and contributing 40% to the national GDP, their sustained growth is crucial. Forecasts suggest a significant increase in private wealth, which will drive the sector’s expansion.

Released low Dubai Chambers As of May 2023, the Center aims to support the growth and sustainability of family businesses, aligning with Dubai’s future development plans.

News source: Dubai Press Office