90% of the companies in the Middle East are family-owned

Batterjee & Bros. Co. is one of the oldest family businesses in Saudi Arabia. According to EY family business report 90% of the companies in the Middle East are family-owned, generate 80% of the region’s GDP, constitute 75% of private sector economic activity, employ 70% of the labor force in the GCC – more than 67 million and control 98% of the oil producing companies operating in the Gulf region. Out of world’s 250 largest family businesses, 2% of these companies are located in the Middle East.

Shahir A. Batterjee, Managing Director of Batterjee & Bros. Co. talks about doing business in Saudi Arabia and family business.