Government

The Dubai Centre for Family Businesses, an initiative under Dubai Chambers, has unveiled the second edition of the Dubai Family Business Management Programme in collaboration with the Mohammed bin Rashid Center for Leadership Development (MBRCLD). This initiative is designed to enhance the skills and leadership capacities of second-tier family business leaders, ensuring effective succession planning and long-term business continuity.

The programme focuses on equipping participants with essential management skills, promoting governance best practices, and strengthening leadership potential to address the unique challenges of family businesses. This effort aims to support the sustainability and growth of family-owned enterprises in Dubai, a sector that contributes significantly to the UAE economy.

A Legacy of Success

The second edition builds upon the success of the inaugural programme launched in October 2023 by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE. The first cohort graduated in September 2024, marking a milestone in leadership development for the next generation of family business leaders.

Comprehensive Learning Approach

This year's programme includes 29 participants from various family businesses. It begins with a three-day training session led by professors from the prestigious International Institute for Management Development (IMD) and continues with virtual sessions, one-on-one mentoring, and a week-long immersion in Switzerland. During the Switzerland leg, participants will interact with representatives of Swiss family businesses to gain global perspectives on governance and sustainability.

Focus on Leadership Development

His Excellency Saeed Al Eter, Director General of the Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum, emphasized the importance of the initiative. “The Dubai Family Business Management Programme equips the next generation of family business leaders with the skills needed to drive long-term growth and sustainable development. This ensures family businesses remain vital contributors to Dubai’s economic and social agenda,” he said.

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, noted, “Family businesses are a cornerstone of the UAE's economy, contributing 40% to the GDP and employing 70% of the private sector workforce. This programme enhances the readiness of second-tier leaders by providing global training methods, preparing them to navigate challenges and seize emerging opportunities.”

Interactive and Practical Learning

The programme combines academic expertise, practical applications, and networking opportunities. Participants engage in case studies, site visits, and personalized mentoring, allowing them to develop actionable strategies for their businesses. Key areas include intergenerational cooperation, emotional intelligence in leadership, and effective communication of vision and goals.

Economic Impact

Statistics from the Ministry of Economy show that family businesses account for 90% of private companies in the UAE. Their contributions span diverse sectors, underscoring their vital role in the country's economic landscape. The Dubai Centre for Family Businesses, established by Decree No. (45) of 2022, continues to support these enterprises through policy recommendations, incentives, and resources aimed at enhancing sustainability and ownership structures.

The Dubai Family Business Management Programme reflects the emirate's commitment to fostering a thriving ecosystem for family businesses, ensuring their resilience and continuity for generations to come.

• Tags
• #Business
• #Magazine
• #Lifestyle