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UAE family businesses show resilience and social commitment during the pandemic

UAE family businesses show resilience and social commitment during the pandemic

Despite a revenue decline in the majority of UAE family businesses due to the Covid-19 pandemic, they have out-performedregional peers in saving jobs

Dubai, UAE, 6April 2021: A new report from the STEP Project Global Consortium and KPMG Private Enterprise highlights how a long-term outlookhas allowed the UAE’s family-owned businesses to stay resilient during the Covid-19 pandemic and play a key role in the nation’s economic recovery. Mastering a comeback: How family businesses are triumphing over Covid-19 includes insights from nearly 2,500 family businesses and more than 500 non-family businesses around the world, including the UAE. The publication highlights the key strategies used by family firmsin tackling the immediate impact of Covid-19 on businesses,as well as the wider macro-economy.

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