Palestine to focus on developing family businesses

By Rashmi Kumar

Palestine may have only recently begun to be recognised as a state by some members of the United Nations, but that hasn’t stopped it from giving its due to family businesses.

This year’s annual Palestinian Capital Market Forum, taking place today (21 November), will see industry experts developing plans to harness the potential of family-run companies, said a release issued by the Palestine Exchange.

The increased focus on family businesses in Palestine comes as no surprise – small and mid-sized companies play an important role in its economy, accounting for almost 95% of private sector revenue and employing around 80% of the workforce.

While the forum will give much attention to the specifics of an initial public offering for family firms looking to go public, it will also focus on issues such as generational transition and challenges facing family-controlled businesses.

“The PEX believes that the sustainability, diversity, perseverance and potential that characterise family-owned businesses in particular make incorporating this segment into the exchange a high priority,” said the statement.

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