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Erschienen in:
2023 | OriginalPaper | Buchkapitel
Family Business in the United Arab Emirates
verfasst von : Luan Eshtrefi
Erschienen in: Family Business in Gulf Cooperation Council Countries
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Abstract
Some of the most famous corporations in the world have roots in family business. Ford Motor Company, JP Morgan, and Walmart are just a few examples of family businesses that became large corporations in the United States. Family businesses are the backbone of many economies, including the United Arab Emirates (UAE). These businesses create jobs, add economic value to countries, and are pioneers in entrepreneurship and innovation. This chapter examines why the UAE is the premier country that supports family businesses. By closer view of the business ecosystem in the UAE, the chapter provides insight into five main stakeholders that together create the most effective environment for businesses to prosper. Later, the chapter focuses attention on characteristics of Emirati family businesses and offers some insight into succession in family businesses from one generation to another. The chapter ends with some concluding remarks on how family businesses survived during the pandemic.