Forbes Middle East hosted its inaugural Family Business Summit last week which was attended by over 1,000+ attendees virtually from across the globe, with heavy participation from across the MENA region.

The summit was held to discuss the evolving business landscape for Family Businesses in the current scenario and their importance to the gulf region’s economy. The stellar speaker line up hosted some of the most influential family business leaders in the region who have been at the forefront of business and digital transformation at their groups.

The year 2020 was a test for everyone, as COVID-19 disrupted lives and livelihoods. Now as organizations embark on the road to recovery, Family Businesses however they have been under duress to transform their business models and adapt to a constantly evolving digital world. With an increased focus on customer experience, most family businesses have taken significant measures to update their existing legacy systems and are already reaping the benefits of a digitally efficient operating model.

Speaking to the audience Sheikha Aisha commented: “The journey of digitalization was relatively slow in most family businesses. The outbreak of the pandemic COVID -19 speeded the transformation in most businesses in order not to disrupt the day-to-day operations. We at Doha Academy schools and AFG College with the University of Aberdeen shifted the teaching and learning methods to online platforms as a result of the emerging and urgent demand. Our main concern was to ensure that the students will not be affected by the closure of schools and educational institutions.” She added “Our students and teaching body have learned to utilize the online platforms optimally and hence have benefited from this experience. As such we will continue to use online learning methods and tools within the teaching and learning experience even after this pandemic is over.’’
One of the topics under discussion was about how family businesses are exploring the IPO route for their businesses and what are the pros and cons of taking the business public.

Dr. Sheikha Aisha Bint Faleh Al Thani, as a right fit for this discussion, was invited to be one of the main speakers in the summit and has shared her experience from transforming her business into a publicly listed company in the Venture Market of the QSE (Qatar Stock Exchange).

H.E. Dr. Sheikha Aisha Bint Faleh Al Thani is an inspiring leader in the field of education. She is the Chairperson & Founder of the Al Faleh Educational Holding (QPSC) which is the first woman-led Qatari company to go public and is the first Qatari educational institution to be listed on the Venture Market in the Qatar Stock Exchange.

The Editor-in-chief and CEO at Forbes Middle East, Khuloud Al Omian noted that “family businesses are backbone of the Middle Eastern economy and their contribution to the region has been phenomenal as they orchestrated some of the world’s most successful businesses from herein. We look forward to hosting these great leaders in-person at our 2nd Annual Family Business Summit next year.’’

At the end of the summit, the panelist thanked the speakers and H.E. Dr. Sheikha Aisha Al Thani for her valuable participation and for sharing her rich experience with the attendees.