Governance in MSMEs
In a post-COVID environment, MSMEs and start-ups are looking for ways to keep their businesses afloat and improve their resilience through the next unforeseen crisis.
This roundtable session will convene business executives from across the Gulf region to discuss:
- Address key challenges faced by their organisations as a direct result of the COVID-19 pandemic.
- Where governance policies could have been embedded to mitigate the detrimental effects of the crisis and where policies can be implemented within business operations to improve resilience going forward.
- Strategic frameworks that early-stage businesses can adopt from the start of business operations that would allow for continued business resilience
Governance in Family Firms
Research shows that a majority (68%) of family businesses in the Gulf Region do not have a formal family council, and only 17% have a family protocol or constitution in place. The formalisation of these governance structures is necessary for the harmony of the relationship between the family and the firm, and the longevity of the business.
The institutionalising of the family office is an increasingly prominent trend in the region, in order to manage intergenerational asset transfers. Family offices are also a vital function in bridging the family business with the wider vision and mission of the family. By expanding their remit beyond the growth of the businesses’ financial portfolio, family offices are well-positioned to centrally manage the family’s strategic activities, such as administering governance frameworks and improving generational transitions.
In conversation with family office representatives, this panel will broadly discuss how family offices can be leveraged to compliment the role of the board and shareholder assembly, whilst providing wider strategic guidance on strategies to ensure business continuity.
The following topics will be covered:
Strategies to maximise value of the family office beyond its financial remit.