- LONDON: BMG Financial Group will host its second BMG Family Business Forum at the Institute of Directors, in London, on Thursday.
- The event will cover the integral and ever-changing role of family businesses within Saudi Arabia and elsewhere in the GCC with speakers from Germany, Sweden, the UK and Middle East, with backgrounds in management consulting, law, and business owners themselves.
With merchant families spanning decades in their operations, the forum is set to tackle how imperative it is to sustain these power houses - especially within the Kingdom, where close to 90 percent are family owned - for generations to come in the hopes of continuing their respective legacies, while enjoying a healthy growth cycle.
The forum will look to highlight the effects on the second and third generation family members in facilitating this transition, to result in an effective, and ultimately propel them into a competitive local, regional, and for some, international player. From showcasing the implications of separating management from ownership, to hiring the right skills and resources, to leveraging external sources of finance, the forum will focus on the institutionalization of these trading houses.
The narrative of the forum is one of an exchange of experiences from highly respected Saudi families, and is expected to be a lively discourse about the unique challenges and rewards that family businesses encounter.