Dubai Launches Family Business Empowerment Program

Dubai has unveiled the Dubai Family Business Management Program, an initiative aimed at nurturing the next generation of leaders within family-owned businesses, a crucial component of the UAE's local economy. The announcement was made by Sheikh Maktoum bin Mohammed, first deputy ruler of Dubai, deputy prime minister, and minister of finance of the UAE.

The program is designed to empower future leaders within family businesses, ensuring their sustained success and effective management during generational transitions. Sheikh Maktoum emphasized the program's goals, stating that it is part of the Dubai Centre for Family Businesses activities and in partnership with the Mohammed Bin Rashid Center for Leadership Development.

He further highlighted the integral role of family businesses in Dubai's economic success and stated that by empowering them, Dubai aims to achieve its goals outlined in the economic agenda D33, positioning the city among the world's top economic hubs.

The program is part of a series of initiatives and plans aimed at supporting family businesses, which contribute significantly to the UAE's private sector. Approximately 90 percent of the country's private sector companies are family-owned, employing over 70 percent of private sector workers and contributing 40 percent to Dubai's gross domestic product.