Dear families and friends,
While we continue to navigate the unprecedented changes, there are many lessons that we can draw on passed down from generation to generation among family businesses. Family firms face the defining moments of change at each generation. And at each transition, a web of issues can arise with far reaching implications for both the family and the business. Yet some, miraculously, survive and even thrive, passing the family torch with the flame still blazing. They do this because they build strong foundations, they have difficult conversations, they plan and prepare for the inevitable, and painful, event – the passing of their leaders. The end of one chapter, the beginning of another. Each generation renews itself, taking some parts of the past, and replacing others that may not serve their mission and values.
So, who are these superstars among us that stand the test of time? How have they done it across generations? What can we learn from them? This is the quest of our Award program, and I am delighted to Chair our inaugural Family Business Awards in the GCC. These awards not only recognize the importance of family business to the GCC, but they also put the spotlight on family groups, their families and teams who are winning against the odds of the generational challenges – whether it is through rigorous planning and foresight, sheer unshakeable family unity or ingenious innovation and creativity.
Along with our Jury, I look forward to learning about their stories and celebrating the best of the best in our region.
Chair, FBCG Family Business Awards