Training young family business leaders in governance & growth.

Post by : Monika

Photo : Dubai Government Media Office

Dubai has started a special leadership training program to help young people from family-owned businesses learn how to lead and manage their companies in the future. This program is organized by the Dubai Centre for Family Businesses, which works under Dubai Chambers. The center was set up in May 2023 to support family-run businesses and help them grow over time.

Who is in the Program?

This year, 25 young men and women have joined the program. They all belong to families that own businesses in Dubai. These participants are the future leaders of their family companies. Through this training, they will learn the skills needed to manage their businesses successfully and keep them strong.

What Kind of Lessons Do They Get?

The training program lasts several days and includes many fun and practical activities:

• Group Discussions: Participants share their thoughts and business experiences with each other.

• Role-Playing: They act out real-life business situations to practice making decisions.

• Practical Exercises: They take part in tasks that show them how to run a company.

• Case Studies: They read and learn from the real-life successes and problems of other family businesses.

What Skills Are Taught?

The program covers many useful topics that are important for future business leaders:

• How to Govern a Business: Students learn how to create rules and systems for managing their company.

• Board Leadership: They learn how to work with advisory boards and make smart business plans.

• Entrepreneurship and Strategy: They develop the mindset to think creatively and make strong business decisions.

• Communication and Conflict Resolution: They learn how to speak clearly, share their ideas, and handle disagreements in a calm and respectful way.

By the end of the program, these young leaders will be able to balance family needs with business goals. They’ll also know how to use international business practices and apply them in Dubai’s business environment.

Why Is This Program Important?

Family-owned businesses are a big part of the UAE’s economy. They make up around 90% of all private businesses and give jobs to over 70% of private sector workers. These businesses also add nearly 40% to the country's economy. That’s why it’s important to prepare the next generation to take over and keep these companies running well.

Good training can help these businesses grow, stay well managed, and pass smoothly from one generation to the next.

Who Is Supporting This Program?

The program was designed with help from global experts and top business schools. These experts shared their knowledge to make sure the program matches the local culture and business style in Dubai and the Gulf region.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said the program helps young people gain the skills they need to take over their family businesses. He also said the training supports a smooth handover from one generation to another, which helps protect the family's legacy.

What Happens After the Program?

When the training ends, the participants will go back to their family businesses and start using what they’ve learned. They are expected to lead with fresh ideas, clear communication, and good planning. Their goal is to take their companies forward and make sure they stay successful for many years.

In short, this program is an important step to make sure family businesses in Dubai continue to grow and thrive. It teaches young people how to lead with confidence and keep their family businesses strong for the future.