UAE family businesses show resilience and social commitment during the pandemic

SourceZawya
SectorEconomy
CountryUAE

Dubai, UAE: A new report from the STEP Project Global Consortium and KPMG Private Enterprise highlights how a long-term outlook has allowed the UAE’s family-owned businesses to stay resilient during the Covid-19 pandemic and play a key role in the nation’s economic recovery. Mastering a comeback: How family businesses are triumphing over Covid-19 includes insights from nearly 2,500 family businesses and more than 500 non-family businesses around the world, including the UAE. The publication highlights the key strategies used by family firms in tackling the immediate impact of Covid-19 on businesses, as well as the wider macro-economy.Anurag Bajpai, Partner, Private Enterprise and Family Business Leader at KPMG Lower Gulf, said: “Family firms in the UAE are embedded in the country’s social and economic fabric and are committed to sustaining entrepreneurship. These businesses have exhibited resilience during the pandemic, manifested in strategic actions to embrace all stakeholders during a challenging time.

Family businesses have responded swiftly to changing economic realities...read more...