The Dubai Centre for Family Businesses, operating under Dubai Chambers, has introduced the Family Business Governance Assessment Tool. This platform is designed for family businesses to self-assess their governance maturity, aiming to contribute to sustainable success.
Targeted at aiding family business leaders and owners, the self-assessment tool offers interactive surveys to evaluate existing governance standards and devise strategies for implementing best practices. Developed in line with expert insights and evolving regulatory trends, the platform encourages practical governance approaches by family businesses globally.
“Implementing governance frameworks is a crucial step in achieving effective decision-making and smooth succession that contributes to the continuity of family businesses,” said Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. “With an estimated Dh3.67 trillion in assets expected to be transferred to the next generation in the Middle East over the coming decade, ensuring smooth leadership transitions and strengthening governance are key priorities in preparing family businesses for the future.”
The Family Business Governance Assessment Tool assists in creating a roadmap to enhance governance practices. It enables businesses to benchmark against other family businesses in Dubai, identify improvement areas, and monitor progress over time.
Focusing on securing the legacy of family businesses, the centre has initiated various programs to support the growth and continuity of family businesses in the emirate.
