Doha: Dr Alexis Antoniades, Associate Professor and Director of International Economics, Georgetown University - Qatar, addressed prominent Qatari businesswomen, board members of Qatari Businesswomen Association (QBWA), and other guests at a recent GU-Q event on the future of Qatar’s family-owned businesses.
The female-only event, co-hosted with QBWA, targeted an audience of 30 women from local businesses, including real estate, education, hotel industry, retail, fashion and investment, among others.
Dr Antoniades provided an overview of family businesses strengths and challenges. PricewaterhouseCoopers presented results of a global survey on nearly 2,400 family businesses completed in 2014, before Dr Antoniades presented three key pieces of advice for local family businesses: Establish clear goals and objectives, a decision-making process, a succession plan, and a transition plan; engage the third generation through education, work experience, understanding of the importance of family and community values; and encourage family business groups to come under one roof and share ideas, concerns, and expertise.
A discussion was moderated by Sheikha Layan Al Thani and Shayma Al Naimi, students at GU-Q and advisers to Dr Antoniades for the event. Dean Dr Gerd Nonneman offered his remarks to close out the event.
“A family business used to be a fairly uncomplicated affair in Qatar. However the business environment, regulation landscape, geopolitics and family structure are changing, presenting new challenges and opportunities,” said Professor Dr Antoniades.
“This is why I decided to organise an event where GU-Q and the Qatari business community could initiate a conversation on how to tackle issues family businesses in Qatar face, and hopefully enable them to thrive and survive the transition to the next generation” in particular, to “empower Qatari women serving as tremendous drivers of change in many realms of the Qatari society, including business, education and politics”.
“These women business leaders brought their experiences and challenges faced, including questions of diversifying the business, and how to prepare the third generation of business owners. It is our hope to build on this initial success and continue collaborating with QBWA and other local partners to find new ways of creating meaningful dialogue,” he added.
Sheikha Hanadi Al Thani, Founder and Chairperson of Amwal, and CEO and adviser to multiple leading businesses in Qatar, said: “Such a discussion is important not only because it creates a conversation around the very important issues family businesses face, but also because it brings together academic institutions with the private sector in working together towards the benefit of the country.”
Natra Saeed, QBWA Board Member, thanked GU-Q for hosting the informative session, and said: “The initiative falls within QBWA’s objective of supporting young generations of women by working with universities to create opportunities for students and fresh graduates to mentor them, and provide them with learning opportunities to further unleash their potential and incorporate their fresh ideas into long-term action plans that aim to pave the way for them”
“We see this event as a step towards a broad collaboration with GU-Q that will have a tangible impact on women advancement efforts in Qatar,” she added.
The Peninsula
