83% of Middle East family businesses have seen sales grow in the past year, reveals PwC survey

Family businesses in the Middle East have performed well over the last year, with 83 %, reporting growth in sales in the past year, according to a Family Business Survey conducted by PwC. 23% of the family businesses in the region said that they are aiming to grow aggressively and quickly over the next five years. Moreover, raised standards of education coupled with improved economic conditions and financial opportunities have resulted in women contributing significantly towards the growth and success of family businesses. Family businesses are thriving regionally with sales growth particularly strong in retail, manufacturing and construction sectors. Recruitment of skilled staff, succession planning and family politics are some of the key challenges facing family businesses.