Exploring Sustainability Practices of Multi-Generation Family Firms in the United Arab Emirates

Abstract

Family businesses are the bedrock of every country economy, especially in the United Arab Emirates as they account for greater than 90% of the country’s private sector. However, family firms are known for their low survival rate in developed countries. The purpose of this research is to raise awareness among United Arab Emirates’ family businesses and discover to what extent are sustainable practices implemented, by referring to the sustainable practices stated in the current literature. The essence indicated the extent of sustainability practices present in those family firms, which concluded that large-sized family businesses are more prepared than medium-sized family businesses. Large-sized family businesses are almost forty percent more prepared than the medium-sized family businesses regarding business continuity. Such results hightlight the critical situation of medium-sized family business longevity. Therefore, corrective actions for their business survival is presented. The study also shined a light on the large family firms on how to prepare for their business continuity with the future generations. This study highlighted the current situation of sustainability preparation for the UAE large and medium-sized family firms and provided guidance on their survival and continuity.