Abu Dhabi launches family business index

The Abu Dhabi Department of Economic Development (ADDED) and the United Arab Emirates University (UAEU) have signed a Memorandum of Understanding (MoU) to launch the Abu Dhabi Family Business Index, a pioneering initiative in the region.

This index will measure and rank various metrics of family-owned and family-controlled businesses, such as performance, influence, and socio-economic contributions, aiming to enhance understanding of their impact on the local economy.

Through this collaboration, ADDED and UAEU will strengthen Abu Dhabi’s economic intelligence and research infrastructure, providing valuable insights into economic diversification and growth.

Moreover, the index will cover revenue, industry, employment, governance structures, leadership gender ratios, succession planning, longevity, and overall economic contributions.

The agreement also includes co-operation in evidence-based research, expert exchanges, joint research activities, training, and workshops. This initiative supports Abu Dhabi’s goals of adopting a flexible and sustainable economic model, as highlighted by the 2022 family business ownership governance law.

Attribution: Emirates News Agency (WAM)