Family Businesses in Dubai: Unlocking Sustainable Growth through Effective Governance Structures and Regulatory Guidelines

Dubai Family Business Center, a division of Dubai Chambers, has launched a new guide to help family businesses achieve sustainable growth through effective governance structures, key frameworks and regulatory guidelines. The guide is part of the center’s initiative to provide practical resources on important topics for family businesses.

Last year, the center released six guides covering key areas affecting the continuity, support and competitiveness of these businesses. Family businesses play an important role in the economy of Dubai as they make up around 90% of private companies in the UAE and contribute about 40% to the country’s GDP.

Mohammed Ali Rashid Lootah, Director General of Dubai Chambers emphasized the significance of family businesses in the economy. He highlighted their contribution to the non-oil GDP of Dubai and their role in creating job opportunities. Encouraging best governance practices is crucial for the success and continuity of these businesses, facilitating leadership succession across generations to support economic growth in alignment with Dubai’s economic goals.

The guide delves into essential bodies such as the family council, board of directors, and board committees. It also outlines requirements for committees and board meetings to ensure effective governance within family businesses. Private financial wealth in the UAE is projected to reach $1.3 trillion by 2027 according to