With 60-80% of all GDP in the region being generated by family businesses it is great to see that firms in the Middle East and North Africa are aware that the skills required by the next generation of leaders are different to those of their predecessors.

Many of the businesses in the transition mix are diversified conglomerates and with constantly changing markets they present challenges in themselves.  Add the dynamics of family firms and the need to plan for the future of the family and the business and there is a lot on the plate for the next generation to tackle.

Introducing the right governance structures to define roles and responsibilities and to help with the professionalisation of the business will also help put them on the right path.