Dubai Centre for Family Businesses hosts interactive workshop to enhance succession planning strategies

The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, has successfully concluded the latest session within its ‘Governance Series.’ The interactive workshop focused on effective succession planning strategies and attracted the participation of 40 family business representatives.

The session explored ways to enhance the continuity of family businesses and ensure a smooth transition of management and ownership between generations. Guest speakers included Mr. Vladislav Burda, President of RedHead Family Corporation, who shared insights on the key lessons learned from his experience in managing a family business. He was joined by Dr. Joseph Astrachan, Founder and Chairman of Generation6 and a leading figure in family business advisory, who delivered a special presentation featuring interactive exercises and case studies on family business continuity and succession planning strategies.

The Governance Series is one of the key initiatives launched by the Dubai Centre for Family Businesses and consists of educational workshops on issues of importance to family businesses. The sessions cover topics ranging from laws and governance frameworks that form the basis of good succession planning to promoting the long-term success of family businesses and enhancing their compliance with regulations and legislation. The series enables participants to learn from other family businesses to help enhance the local ecosystem. The current session is the fourth organised this year within the Governance Series.

 The Governance Series is designed to help family-owned companies in Dubai overcome common challenges, promote networking opportunities, and inspire participants by inviting local, regional, and global family businesses to share their multi-generational success stories.

Previous sessions within the series have addressed key topics including family business law, family business sustainability strategies, corporate governance, and the use of Waqf, foundations, and trusts in family businesses.

As part of its ongoing efforts to support the sustainability and competitiveness of family businesses, the centre has also issued a special guide on ‘Succession Planning for Family Businesses,’ with the goal of introducing planning tools for the transition of management between generations.

Launched under the umbrella of Dubai Chambers in May 2023, the Dubai Centre for Family Businesses is entrusted with ensuring the growth and long-term sustainability of family businesses in Dubai. The centre aims to further develop this vital sector and enhance its economic contribution to support the emirate’s future development plans.