Author(s): Saad Darwish, Anjali Gomes, Venus Bunagan
Economic liberalization and massive expansion after 1990 have led to an industrial base that has not only generated opportunities for growth for many in recent years, but has also tested their capacity to respond to them. Some have chosen to follow the role of custodian of their existing wealth and have followed the path of preservation, while others have followed a more entrepreneurial path. One of their key resources is their children, and the security and health of their families is their primary concern. A major dilemma some of them have faced, especially in the last two decades since industrialization began, is to choose between risk combinations and returns to business growth and the preservation of family wealth. Family is one of the oldest survivors as a social institution, but family business has only become the main branch of the company in recent years. This article reviews the literature on family business in the future prospect of GCC economies. In general, descriptive and empirical articles that typically focus on family business dominate this literature. This paper also discusses some of the main family business problems in GCC countries.