Succession Planning in the UAE for Family Businesses
Succession Planning Family Businesses (“FBS”) are significant contributors to United Arab Emirates’s Gross Domestic Product (GDP), wealth creation and economic stability. However, research demonstrates that the survival rate of FBS over the generations is low. Several factors contribute to the low survival rate, from increased competition to lack of capital, with one of the key reasons being lack of succession planning. It is typical for high net worth individuals to delay succession planning indefinitely as they believe there is no threat...
