80% of Abu Dhabi employees work at family-owned businesses: Top official

Family businesses employ 80 per cent of the workforce in the UAE Capital, a top official from the Abu Dhabi Chamber revealed on Thursday.

Addressing the Abu Dhabi Business Week, Shamis Ali Al Dhaheri, second vice-chairman of the trade body, stressed the importance of family businesses and the need to support them.

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"Succession is a core issue among family businesses and it comes up very frequently in high-level discussions," the official said.

The Abu Dhabi Family Business Council was launched on Wednesday specifically to guide these businesses and help the next generation of their leaders. The council will help family-owned businesses identify priorities and challenges and provide support in addressing these through innovative solutions and investment.

Family businesses in Abu Dhabi — and the UAE, in general — account for a large chunk of economic contribution as well as employment in the private sector.

The Dubai Chamber said up to 90 per cent of private companies in the country are family businesses that employ more than 70 per cent of the private sector's workforce.

“I urge family owners to share the information and explore the laws which will bring them great advantages in succession," Al Dhaheri said.

"The Abu Dhabi Government has worked on several programmes, such as educating the next generation on how to become a good partner, and some of them have shown positive results... [Local authorities] have been advising shareholders on how to become good family members and shareholders. Our Family Business Council establishment is a strong statement,” the top official added.

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