The Family Business Council Gulf (FBCG) has unveiled the first ‘Family Business Awards’ in the GCC region to honour organisations for their continued success across generations.
The awards highlight the contribution of family-owned businesses that add to about 60% of the gross domestic product of the GCC and employ about 80% of the labour force.
Open for all entities in the GCC that are part of a family-owned business and at least in the second generation, the awards are presented in four categories – ‘SME Family Business’, ‘Non-Family Executive’, ‘NexGen Venture’ and ‘NexGen Innovation’.
The winners will receive their award at the FBCG Awards Ceremony and can attend FBCG’s member-only annual summit and gala dinner.
They will also have exclusive access to select FBCG events, activities, and education programmes for one year.
Businesses can nominate or self-nominate for the categories by June 30, 2021 through www.fbcgawards.com and learn more about the specific eligibility criteria.
While the SME Family Business and Non-Family Executive categories will be evaluated by a special jury headed by Hind Bahwan, chairperson of Bahwan CyberTek Group, the NexGen Venture and NexGen Innovation will be chosen by the FBCG Board chaired by Omar K Alghanim and other board members.
The other jury members include international and regional academics Dr Bridget Kustin, research fellow and qualitative lead, Oxford Ownership Project at University of Oxford; Dr Rodrigo Basco, associate professor; Sheikh Saoud bin Khalid bin Khalid al-Qassimi chair in Family Business at AUS; Alexis Du Roy De Blicquy, CEO, FBN International; Fadi Hammadeh, general counsel, Al-Futtaim Group; and next generation family business leaders Lulwa al-Soudairy (Saudi Arabia) and Rahma al-Barwani (Oman).
Announcing the awards, Hind Bahwan said: “The goal of the Family Business Awards programme is to recognise family business champions that have navigated challenging times to continue to build their business and add value to the economy. The awards recognise the importance of family business to the GCC and puts the spotlight on family groups and teams that address generational challenges through rigorous planning and foresight, family unity and innovation and creativity.
Alghanim, chairman of Family Business Council Gulf, added: “While family businesses are the mainstay of the region, contributing significant value, creating jobs and launching innovative enterprises, their contribution has been seldom recognised. With the Family Business Awards, we are celebrating their success, in building thriving business models across generations.
“The pandemic has particularly highlighted the need for building local entrepreneurship, and the Awards will inspire new generations of entrepreneurs who can learn from the lessons of the established businesses as they pass their legacy to the new generation.”
Open for all entities in the GCC that are part of a family-owned business and at least in the second generation, the awards are presented in four categories – ‘SME Family Business’, ‘Non-Family Executive’, ‘NexGen Venture’ and ‘NexGen Innovation’.
The winners will receive their award at the FBCG Awards Ceremony and can attend FBCG’s member-only annual summit and gala dinner.
They will also have exclusive access to select FBCG events, activities, and education programmes for one year.
Businesses can nominate or self-nominate for the categories by June 30, 2021 through www.fbcgawards.com and learn more about the specific eligibility criteria.
While the SME Family Business and Non-Family Executive categories will be evaluated by a special jury headed by Hind Bahwan, chairperson of Bahwan CyberTek Group, the NexGen Venture and NexGen Innovation will be chosen by the FBCG Board chaired by Omar K Alghanim and other board members.
The other jury members include international and regional academics Dr Bridget Kustin, research fellow and qualitative lead, Oxford Ownership Project at University of Oxford; Dr Rodrigo Basco, associate professor; Sheikh Saoud bin Khalid bin Khalid al-Qassimi chair in Family Business at AUS; Alexis Du Roy De Blicquy, CEO, FBN International; Fadi Hammadeh, general counsel, Al-Futtaim Group; and next generation family business leaders Lulwa al-Soudairy (Saudi Arabia) and Rahma al-Barwani (Oman).
Announcing the awards, Hind Bahwan said: “The goal of the Family Business Awards programme is to recognise family business champions that have navigated challenging times to continue to build their business and add value to the economy. The awards recognise the importance of family business to the GCC and puts the spotlight on family groups and teams that address generational challenges through rigorous planning and foresight, family unity and innovation and creativity.
Alghanim, chairman of Family Business Council Gulf, added: “While family businesses are the mainstay of the region, contributing significant value, creating jobs and launching innovative enterprises, their contribution has been seldom recognised. With the Family Business Awards, we are celebrating their success, in building thriving business models across generations.
“The pandemic has particularly highlighted the need for building local entrepreneurship, and the Awards will inspire new generations of entrepreneurs who can learn from the lessons of the established businesses as they pass their legacy to the new generation.”
