Recently we were asked a very interesting question by a senior Family Advisor for a very large family group in the UAE. His query to us: “When you work with family businesses, is it about jobs or wealth?” We asked him to elaborate so we could understand the full nature of his question. He gave us some context highlighting that he was advising the family group to implement governance structures which would lay the foundation for a sustainable legacy passing from generation to generation. During this journey they found themselves stuck on a fundamental question: “what is the purpose of a sustainable family legacy- is it to provide jobs for family members, or is it to secure and generate wealth for family members?”
Article co-authored with Mr. Asin Nurani and originally published in “Gulf News” on April 11th, 2019.