The Abu Dhabi Department of Economic Development (ADDED) and United Arab Emirates University (UAEU) have signed a Memorandum of Understanding (MoU) to launch the Abu Dhabi Family Business Index.
The Abu Dhabi Family Business Index, the first of its kind in the region, will measure and rank various metrics related to family-owned, as well as family-controlled, businesses in Abu Dhabi, such as performance and influence.
It was shared that there are plans to expand the scope of the index to the wider region and world.
The index will include indicators such as revenue, industry, employment, governance structures, leadership gender ratios, succession planning, longevity, and overall contribution to socio-economic development.
The Index will provide an understanding of the role and impact of family businesses in the economy and society.
The agreement between the two parties also includes cooperation in evidence-based economic and financial research, exchanging experts to foster knowledge sharing, joint research activities, training, and workshops, and sharing research publications.
His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, commented: “This strategic cooperation between ADDED and UAEU is a significant step forward in propelling Abu Dhabi’s research and development efforts. The Abu Dhabi Family Business Index will play a pivotal role in developing the business landscape by providing valuable insights about this significant segment of our socio-economic fabric.”