Most of the Arab family businesses do not continue to the next generation

Issues formed a «family business» and the challenges of governance and the possibility of converting these companies to joint stock companies or as institutions continue to familial and economic challenges faced by the most prominent address at a conference in Doha under the title «good governance in family businesses».

The Deputy President of the Chamber of Commerce, Mohammed bin Towar that the restructuring of family businesses and turning them into joint stock companies are managed by the expert professionals may be one of the solutions.

Raised the Chief Executive of QE and Lint Andre the importance of family businesses to apply and contribute to the concept of good governance in order to protect the rights of shareholders and stakeholders and the consolidation of the economy,

With the view that good governance helps to ensure the continuity of family businesses for generations to come, he expressed concern Qatar Exchange to communicate with family businesses and help regarding the transition to joint-stock companies, and urge family businesses to work in order to expand their roles and their transformation into joint stock companies in order to ensure continuity and the ability to competition domestically and internationally.

According to the Director of the drawers in the Stock Exchange Qatar Abdul Aziz Al Emadi that 90 percent of the Gulf companies family businesses, said Chairman of the «Institute of Directors country» Mohammed Jassim Al Muslimani that the Centre will launch an initiative carried out by coordination with government agencies and cooperation with the International Finance Corporation and the houses of international experience and regional standards development country of good governance to become evidence indicative of companies.

He said the founder and Chairman of Talal Abu-Ghazaleh that about 70 percent of family businesses fail and do not last for the next generation, and about 15 percent of which only continues for the third generation, attributing this to the reason for lack of separation between the family and administration and management.