The Middle East and South Asia (MESA) Family Business Conference at the Art Rotana Amwaj in Bahrain today shed light on transition in family enterprises and preparing the next generation to move into leadership roles.

Hosted and organised by KPMG Fakhro, the Mesa Family Business Conference brought together family business from across the region to learn from the KPMG team and international experts.

Family owned businesses are considered as a catalyst for economic growth in the GCC countries.  In this regards, KPMG’s managing partner Jamal Fakhro elaborated on the challenges faced by family businesses in balancing between business and family perspectives during the decision-making process.

“Having worked with family businesses across the region, we have come to realise that succession, building next generation leaders, wealth preservation and governance are issues that the sector regularly faces. We have themed our event around transition to new generation, to share perspective and insight to help family business owners consider these issues.” Fakhro stated.

The one-day conference included a series of interactive presentations and panel discussions. Christophe Bernard, KPMG’s global head of Family Business, and Harish Gopinath, partner at KPMG in Bahrain spoke about family business governance and planning. This was followed by a presentation from Professor Randel Carlock, founding Director of the Wendel International Centre for Family Enterprise and Professor in Entrepreneurial Leadership, on next generation perspective, developing a family constitution, talent development, and wealth preservation and stewardship. Prominent business owners in Bahrain and the region concluded the event with a panel discussion on “first generation”. – TradeArabia News Service