The sprawling, family-controlled conglomerates common in the Gulf Cooperation Council may not survive the next generational transfer if they don’t refine their focus, according to a recent report.
Booz & Co said slowing growth in the GCC as well as greater numbers of foreign companies operating in the region is another threat to the longevity of regional family firms.
In the report GCC family businesses face new challenges, Booz & Co blamed the lack of focus of GCC family firms on “restless entrepreneur syndrome”.
Photo: Keep it in the family