Family businesses are an important source of economic development and growth, contributing 60% to GDP. However, in an economy driven by technology and disruption, sustaining profitability and growth is very challenging. In a recent study conducted by KPMG, only 30% of the family businesses surveyed said that their priorities for the next 2 years is becoming more innovative. Family business tend to prefer traditional business models and asset classes, like real estate and manufacturing, where they are more comfortable with industry dynamics and the risk-return profile. Technology is changing the way businesses operate and family businesses need to revamp their operations and invest in innovation in order to survive in an increasingly competitive economy. This panel brings together some of Lebanon’s key family businesses to discuss how they are responding to the entrepreneurial culture, what are their objectives and strategies to beat competition,  and the challenges they’re facing diving into new innovative opportunities.

Speakers
Anthony Boukather, Chief Executive Officer - Automotive, A.N.Boukather
Maroun Daou, Vice President and Business Development, Ghia Holding
Jihad Ibrahim, Managing Director, Jamil Ibrahim Establishment
Carly Ramia Habis, Head of Marketing, PR and Events, Grand Cinemas
Moderator: Ziad Matar, Partner and Co-Founder, Meditari