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By Dr. Mosbah Majzoub (Founder of Family Business Clinic)

With the continuous rise of difficulties and obstacles faced by Lebanese businesses, it is our mission as Lebanese family businesses to surpass these complications through permanent leaders’ innovation and development. According to Anderson (2017), the Lebanese economy is fundamentally built on the entrepreneurial families giving strength not only to the local shaky economy but to neighboring countries as well. Many family owned businesses became pioneers in multiple industries, surpassed local territories and excelled internationally through proper generational planning and adequate strategic execution.

However, sadly very few are the family owned businesses that survive through generational transitions and achieve that exclusive success. According to previous academic work done on family firms, only 4%[1] are the family businesses that make it to the 3rd generation.
Given these low survival rates of family businesses, it is important to learn from the past and ameliorate the business governance of the future. Therefore, investing in a healthy corporate governance scheme is no  longer a luxury; It is a necessity for  survival in the family business environment.

The purpose of this workshop tailored to Lebanese family owned firm is to shed light on the principles that constitute a family business, the main obstacles that will be faced along the way, how to adopt a pre-emptive approach in avoiding these pitfalls, what are the main pillars of family and business governance, and how to plan for a nourishing generational accommodation…

It is never too early to start thinking about the future of the family business and this is why we bring the debates to the table around these topics by referring to some real success stories from around the country and from abroad. Participating in this workshop will help attendees better visualize the roadmap ahead, gain better knowledge about their family business, and provide tools to better assess the health of their Family-Business ties.

 [1] Ward 1987