The rise of family business and social enterprise is a force for good in the GCC

The rise of family business and social enterprise is a force for good in the GCC

In the global discourse of responsible investing, the role of family businesses and social entrepreneurs is relatively understated. To reach more conclusive outcomes on climate change and other socio-economic matters, we need to ensure family businesses and social innovators get a front-row seat—if not the driver’s seat—at global sustainability and investment movements. Family and social enterprise is where wealth and changemakers rest, especially in the GCC region.

From the Millennium Development Goals (MDGs, 2000-2015) to the present era of the Decade of Action for the Sustainable Development Goals (SDGs, 2015-2030), most of the human endeavors we’ve witnessed over the past few decades have been missing a core component—the resolve and determination of those who matter most: family businesses and social enterprises.

The good news is that family businesses across the GCC are increasingly favoring the greater good as part of their wealth creation strategies. Supported by government policies and initiatives, the sheer size of the family business sector and its growing knack for responsible investment will bring significant improvements to the state of the region and the world, helping us tackle some of our most pressing socio-economic and environmental challenges.

According to the UAE Ministry of Economy, up to 90% of private companies