Family business gives outlet for creativity
AFTER university, most students want to venture out into the professional world of work on their own, rather than stay within their family business.
Some do this to satisfy their need to create their individual identity, some to challenge themselves and others to push themselves out of their comfort zone.
While it is common to hear about students who want to make their mark in the professional world on their own – and of others who buckle under pressure from family members to join their businesses – it is rare to find students who whole-heartedly want to work within their family-owned business.
Obaya Fariq is one such student whose decision to work for his family business is solely his choice. “I recently finished college and I can gladly say that I want to work in the textile business owned by my father,” he told cashy.
“People assume that I have decided to work for my father because I don’t have an aim in terms of my career, but I have decided to make my career out of my father’s business.”
Grades still matter
If your future job is all set, why bother studying so hard when it isn’t going to matter anyway? This is the most common question Obaya, 21, has had to face in social situations.
“A lot of people told me I was concentrating on my studies a lot, considering my decision to eventually work with my father.”
Even though he had decided to work with his father in their textile business after university, Obaya still believed that getting good grades was still necessary.
However, other student’s amazement soon rubbed off on him and the accounting graduate of University of Wollongong in Dubai wavered from his aim of studying hard. He ended up missing classes and concentrating more on his social life than his studies. As a result, his grades suffered.
Getting back on track
After realising the reason for his grades falling drastically, Obaya tried to study harder and get his grades back to being as high as they used to be. However, the low marks achieved during one semester in particular were still a disadvantage for him, as they affected his total grade.
“If I could go back in time and restart university again, I would stay more focused on studies no matter what people say, and would try to get more internships or part-time jobs for more exposure,” he says.
Focussing on the future
Obaya regrets not concentrating on his studies while at university, but he has moved on. Even though it has not been long since his graduation, Obaya is already working at his father’s office.
“I am curious about how the textile business works in the UAE to the point that I have almost given up on the idea of having a short break,” he says.
He wants to bring his father’s textile business to a whole new level using his newly-acquired skills, and implementing a marketing scheme that he has been planning during the course of university.
Obaya believes that he is lucky to have a safe and friendly work environment where he can conveniently discuss his ideas with his father and execute creative and fresh marketing schemes that will help their business in the long run.
“It is better to work here rather than some company where my creativity is limited. Hopefully, my ideas for our business will be approved by him and the company will grow.”
Do you work for your family business? What's it like? Tell your story below...
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Comments
Interestingly, a research study by CTPartners, released today, highlights succession planning as one of the key issues when it comes to wealth management and family-owned businesses. CTPartners believes that regional family-owned businesses, which constitute atleast 75% of the private sector economy and employ more than two-thirds of the labour force in the Arab region, need to ensure sustainability beyond the founding fathers and their immediate offspring. With this sector forming the backbone of the economy, sustainability of these businesses become important both for the families in question and for their countries.
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