Family Business Wiki's Town Square

Family Business Wiki's TOWN SQUARE

November 2009 Blog Posts (4)

Middle Eastern Family Businesses Have Unique Challenges

Middle Eastern Family Businesses Have Unique Challenges



Family Businesses dominate the economies of the Middle East. In the region’s largest economy, Saudi Arabia, more than 50% of non-oil GNP is produced by family-owned businesses. In Bahrain, 70% of all businesses are family businesses. In Oman, it is 57%. In the Middle East at least 80% of all businesses are family run and family owned. In the Gulf region, family businesses control over 90% of the commercial… Continue

Added by Dr. Josiane Fahed-Sreih on November 26, 2009 at 11:53am — 1 Comment

Why you should not write a family constitution...

"We need a family constitution!" (or charter, or protocol...)



This is sometimes the way families approach advisors. In some ways the request is: "Can you please help us find the magic formula (or "Tables of the Law") that will make us able to own this business together, in our new ownership / family geometry, without conflicts?"



And yes, probably, in a few months or years, this family may ratify its constitution. And this constitution may prove very useful. But if they… Continue

Added by Christine Blondel on November 24, 2009 at 3:00pm — No Comments

The Rare Family is Quite Well Done

My wife and I are in comparable fields, and face similar resistance from customers. We’re not in business together, though, because what she does- pain relief therapy- and what I do – mediating disputes between related business partners – don’t belong on the same shingle. But we both wonder why so many are willing to end treatment when pain subsides, not continuing into whatever they think wellness might be.



My wife can write her own blog, but for me, I find family members often…

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Added by Ira Bryck on November 18, 2009 at 11:30am — No Comments

Myth - second generation blows the money!

The statistics indicate that approximately 75% of families in business do not survive through the second generation. That is very true. The myth that we usually hear is “The senior generation made all the money and the second generation drained the company of the funds and the family business goes broke.” In reality less than 10% of family business failures are due to bankruptcy.



Over the years we have found the number one reason for the failure of family businesses is the family's… Continue

Added by Jim Kwaiser on November 16, 2009 at 9:42am — 1 Comment

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