The Evolving Perception of Family Businesses in the Middle East and North Africa

As in many other fast-growth regions around the world, the shift in perception is a great step in the right direction and focusing more attention to family-owned enterprises is crucial. However, this should be done for the right reasons, and support systems should be created organically and with the family business’ best interest at heart. Family firms are key to addressing the region’s unemployment problem, which lies at the heart of much of the instability currently experienced. Family-owned businesses have never shied away from entering difficult industries with long-term growth perspective, and the MENA, with increasing food security and water security challenges as well as a fast-growing young population with low income, requires sustainable solutions, products and services for its citizens. There are many other reasons why MENA family businesses are essential to this region’s future, and understanding those reasons should impact a shift in perceptions and actions that will follow