Family Businesses Employ 48% of Saudi Workforce – NCFB Report

Family businesses account for around 95% of operating companies in Saudi Arabia, employing 57% of private sector workers and 48% of the Kingdom’s total workforce, according to a 2024 study published in the annual report of the National Center for Family Businesses (NCFB).

Commenting on the figures, Ghassan AlSulaiman, Chairman of the NCFB Board of Directors, said the sector represents a strong competitive asset, underpinned by inherited values that have enabled its continuity and growth. He noted that family businesses focus on long-term investments and are characterised by high levels of flexibility and adaptability.

NCFB CEO, Ayth Al Mubarak, said these businesses possess unique attributes that position them as a driving force in achieving the objectives of Saudi Vision 2030 and in supporting strategic development projects aimed at bolstering the Kingdom’s economy at all levels.

The NCFB’s 2024 annual report also outlines the centre’s key efforts, programmes, and initiatives over the past year to support the sustainability and growth of family businesses across Saudi Arabia.