In the Middle East, over eighty percent of businesses are either owned or controlled by families who began as entrepreneurs and subsequently diversified their business interests. A significant number of these businesses started in the early 1960s and continuity has become a growing concern: many of them will need to manage a generational change over the next five to ten years. Family businesses are both strong and unique but they are also more complex. They face the same challenges as any other business and as both the business and family grow and expand, they must also deal with a range of specific problems. They have to manage the challenges of operating in a difficult global economic environment alongside inevitable generational change.
At PwC, our Family Business Advisory Team is dedicated to working with family businesses – large and small – to envision the future and achieve your goals and those of your family. Whatever your business, from founder generation to cousin consortiums, we have facilitated the creation of family governance structures that achieve sustainable long term success. With over 150 years of experience in helping family businesses succeed we pride ourselves on building long-term relationships. We are passionate about supporting you and your family business. Let us face the challenge together over the coming decade.
Many families will need to manage a generational change over the next 5 to 10 years.
So how can PwC help?
Family business owners need to take a holistic view of both their family and their business. The most successful family businesses make it a priority to understand the dynamics of family relationships, and to create rules that promote family harmony and commercial success. Our services include:
Operational, Innovation and efficiency