Description : What is a family business?
Family businesses are companies in which a family or related families hold at least 51% of the shares; the family members constitute the majority of the senior management team; and the owners have responsibility for the day-to-day management of the business. (Source: Pricewaterhouse Coopers)
The Family Business Conference is a 2-day conference that aims to encourage greater understanding of family business dynamics and the challenges they face, in order to accomplish greater business success and sustainability leading to a higher impact on Jordan’s economic development. The Conference will feature presentations and panel discussions by expert speakers with plenty of case studies, interactive dialogue and networking opportunities.

The Family Business Conference is aimed at CEOs, owners, board members of leading Arab family-owned businesses, as well as, legal and financial advisors. The conference targets both small and medium sized organisations, as well as, large well established family owned businesses. Family owned companies are major contributors to the GDP of world economies and a major source for employment and job creation. In the US, 35% of Fortune 500 companies are family companies. Family companies in the US are responsible for 60% of the nation's employment and 78% of new jobs created.

Over 90% of businesses in the Arab world are family owned. Family businesses are the backbone of most developing economies. However, family businesses around the world, face serious challenges that threaten their success and sustainability. Family firms have an average life span of only 24 years. Only about 30% of family businesses move on to the 2nd generation, 10% to the third generation and only 3% survive beyond the 3rd generation!

The rate of collapse among family business in the Middle East is alarming. Regardless of size, family businesses face significant challenges of continuity, longevity, and ultimately success which threaten their performance and future survival. The challenges that family businesses face range from management and ownership to succession planning, employing family & non-family executives, the transition between generations, managing the family’s wealth, building the right governance structure, passing on entrepreneurial talent between generations and many others.

Family-owned businesses in Jordan, whether SMEs or large companies, need to be aware of these challenges and develop strategies to insure their continuity and long-term success. This will impact positively on the economic performance & development of Jordan through increased contribution to GDP, exports and foreign currency generation.

The Conference will address these challenges and meet the following key objectives:




Conference Objectives:

o Encourage greater understanding of family business structures and dynamics
o Examine the challenges facing family businesses
o Explore the best family business strategies and practices
o Promote succession planning and business continuity across generations
o Improve the overall performance of family businesses

Family Business Conference 2007

In June 2007, we organised the first Family Business Conference in Jordan under the patronage of H.E. Dr. Ma’rouf al Bakhit, Jordan’s Prime Minister. The Conference was attended by some 150 delegates, representing local and regional companies and experts in the field of managing family businesses and was addressed by 15 speakers from the U.S., the U.K., Turkey, Lebanon and Jordan. The Conference was sponsored by Pricewaterhouse Coopers, the Citibank, Jordan Enterprise, the USAID and others.

The Conference's main recommendations focused on the importance of institutionalizing family businesses in Jordan, promoting corporate governance, creating family councils, applying quality control in businesses, separating ownership from management, training future generations and succession planning.

Five specific areas were identified as critical to family business success and succession in Jordan and the Middle East:

• Understanding Family Dynamics and Cultural Change in the Middle East.
• Building Policies and Professionalizing Family Businesses.
• Creating Effective Governance Structures for Accountability and Long Term Success.
• Understanding Trans-generational Wealth Management and Taxation Issues.
• Planning for Succession and Business Continuity across Generations.

Further information and a summary of the Family Business Conference of 2007 is available on www.familybusinessconf.com

Who should attend?

• Owners
• Non-family executives, CEOs, top management
• Board of Directors
• Family members
• Bankers
• Advisors and consultants
• Lawyers
• Academics

Registration Fees: JD 300 (US $500) + 16% Sales Tax
A 10% discount is offered for groups of 3 or more delegates from the same organisation.
 
www.familybusinessconf.com