The novel coronavirus (COVID-19) outbreak has disrupted businesses and markets around the world. In many ways family offices (FOs) are facing the same challenges as other businesses. Depending on the size and scope of an FO, there are different issues that need to be considered by its family members and executives. The issues relating to the roles and functions of an FO include investment and liquidity, information technology and cyber security as well as plans for business continuity, business recovery, and philanthropy. There are also issues relating to the structure and operation of an FO for long-term sustainable growth, whether in good times or bad.
For more detials, kindly download and read the full thought leadership.
With so much at stake in these unprecedented and uncertain times, family business owners in Bahrain must focus on protecting the value of the family enterprise while simultaneously looking out for the well-being of employees and stakeholders.