Dubai Centre For Family Businesses Hosts Workshop On Effective Succession Planning Strategies

The Dubai Centre for Family Businesses, part of Dubai Chambers, has wrapped up its recent 'Governance Series' session. This workshop focused on succession planning strategies and drew 40 representatives from family businesses. The session aimed to improve the continuity of family enterprises, ensuring smooth management and ownership transitions across generations.

Guest speakers included Vladislav Burda, President of RedHead Family Corporation, who shared his experiences in managing a family business. Dr. Joseph Astrachan, Founder and Chairman of Generation6, also participated. He delivered a presentation with interactive exercises and case studies on family business continuity and succession planning strategies.

The Governance Series is a key initiative by the Dubai Centre for Family Businesses. It consists of educational workshops addressing critical issues for family businesses. Topics include laws and governance frameworks essential for successful succession planning, promoting long-term success, and enhancing compliance with regulations.

This series allows participants to learn from other family businesses, contributing to the improvement of the local ecosystem. The current session is the fourth organised this year within the Governance Series.

Designed to help family-owned companies in Dubai overcome common challenges, the Governance Series promotes networking opportunities. It inspires participants by inviting local, regional, and global family businesses to share their multi-generational success stories.

Previous sessions have covered topics such as family business law, sustainability strategies, corporate governance, and using Waqf, foundations, and trusts in family businesses.

Supporting Long-Term Sustainability

The centre has issued a special guide on 'Succession Planning for Family Businesses'. This guide aims to introduce planning tools for generational management transitions as part of ongoing efforts to support sustainability and competitiveness in family businesses.

Launched under Dubai Chambers in May 2023, the Dubai Centre for Family Businesses ensures growth and long-term sustainability for family businesses in Dubai. The centre seeks to develop this vital sector further and enhance its economic contribution to support the emirate's future development plans.

With inputs from WAM