Family firms can empower women

A recent report, ‘The Impact of Private Equity on GCC Family Business' by Ithmar Capital, claims that 90% of all commercial activity in the GCC is controlled by family firms.

In numbers that means it equates to 5000 family owned businesses in the GCC, holding combined assets of more than US$500bn and employing 70% of the total workforce.

But how many of these family businesses have women at the helm? While I haven't individually studied all 5000 companies, I don't think it would be wrong to assume that it isn't many. That is why it was so good to see the Arab International Women's Forum (AIWF) take place last week in Dubai.

AIWF bought together some of the most prominent women in the region. Headed by Haifa Fahoum Al Kaylani, herself an active promoter of women's associations with prominent speakers such as HH Sheikha Lubna Al Qasimi, the only female minister in the UAE and the former ambassador to the EU, Professor Aicha Belarbi, the conference was a huge success and not just in the number of news pages it filled.

Opinions raised included that Arab nations continue to lag behind the rest of the world in terms of female representation in the workforce and government; that the future stability of the region depends on the success of Arab women in the economy; and that the private sector needs to work "10 times harder" to attract and encourage more Arab women to swap stereotypical female careers for high-ranking professional positions.

Interestingly, Professor Belarbi also noted that women are often placed in their political or business roles as token appointments. While many women may find it difficult to climb to the top - not though lack of education and capabilities - it is family businesses that can lead the way in this.

The European PWN Board Women Monitor, which provides numeric proof of women's representation on the boards of some of the largest corporations in Europe, notes that female board members are often family representatives.

While women on the board in Europe are not equal to the number of men on the boards of large corporations (on average there are 11 men per board and slightly fewer than two for women), the study notes that the youngest board member is usually also a family member.

It also notes that these women are highly educated, proving that they are not simply ‘token appointments' but are in fact as qualified for the job as any man. While only 9.5% of women on the board hold a PhD in comparison to 33% of men in a similar position, there is a significant difference in that most of the women obtained their qualifications through study while many of the men were given honorary PhDs, suggesting that women in such positions are no less capable than their male counterparts.

Noor Sweid (one of only two women featured on the front cover of Arabian Business this year - though not for a lack of trying) is the managing director of Depa, a business established by her father, and more significantly is the first woman to float a company in the UAE.

If her position was a token one - and with a CV reading like the who's who of the business and education world, I doubt it very much - then she is ample proof that Arab women can lead the way.The 27-year-old can surely not be an exception. Women across the Arab world are just as capable as Sweid but haven't been given the opportunity to prove themselves.

Arab businesses, in particular family-owned ones, take note - you are in the ideal position to allow the female workforce to grow substantially.

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