Emirates NBD, a leading bank in the region, announced today the launch of RISE - a brand new initiative from the Business Banking division that will provide small and medium business owners in the UAE with a comprehensive platform to learn, connect and grow their businesses further.
The launch of RISE is in accordance with Emirates NBD Business Banking’s strategy to be a catalyst for growth for small and medium enterprises, and aims to provide wide-ranging inclusive support for UAE-based SMEs from knowledge library for business management, business networking, inspirational success stories, and exchanging business opportunities. The strategic objective of RISE is to create an all-inclusive platform that all UAE-based SMEs can reach out to for full-fledged business support.
“Emirates NBD believes that small and medium enterprises need to be nurtured and supported at every step of their growth journey to empower and enable them to compete on global platforms,” Suvo Sarkar, General Manager – Retail Banking at Emirates NBD. “While we have invested in enhancing our product and service proposition for business banking in recent years, Emirates NBD is committed to go beyond this to provide all-embracing support to small businesses, who are engines of economic growth and vital contributors to the country’s GDP, and RISE has been conceived to meet this strategic objective.”
“One of the strategic objectives at Dubai SME is to foster an entrepreneurial climate that is conducive to the growth of small businesses in the UAE,” said Abdul Baset Al Janahi, Chief Executive Officer, Dubai SME. “I would like to congratulate Emirates NBD for launching the RISE platform, as it will be instrumental in creating a multi-faceted online community that will provide ready support, mentoring and guidance for UAE-based SMEs.”
Official statistics state that the UAE is home to more than 230,000 small and medium-sized companies that together contribute more than 40% to the country's GDP, and employ in excess of 42% of its workforce. With Dubai’s economy considerably diversified away from oil, SMEs account for 95% of the total enterprise population in the emirate, according to Dubai SME, an agency set up by the Department of Economic Development to provide support to the SME sector.
“Emirates NBD’s market research into the SME sector, and associations with Dubai SME and other like-minded institutions, have highlighted the need for a targeted programme that assists small businesses to access their true potential,” said Vikas Thapar, Head of Business Banking. “The RISE platform effectively meets this requirement, as it enables SMEs to leverage growth opportunities, explore business partnerships, access industry knowledge and avail mentoring and guidance from recognized industry experts, through a close-knit business community experience.”
“We live in a connected world today, where success is no longer defined in isolation,” he added. “This initiative embodies the connected world of SMEs where a small business owner only has to reach out to RISE, to link to a wealth of industry knowledge and assistance.”
Launched through a dedicated portal (risebusiness.com), RISE is characterised by several components, including RISE Intel, Rewards & Beyond and RISE Exchange. A library of case studies, white papers and global best practice examples, RISE Intel offers SMEs a collected body of information and knowledge. A networking forum that enables SMEs to find the right business partners and contacts, the RISE exchange is another module that emphasises the significance of connectivity. Closely linked to the RISE initiative is Rewards & Beyond that offer SME members a range of exclusive discounts and privileges to run their business more cost efficiently.
The RISE initiative will be supported by a series of events and workshops, offering SMEs around the country the right platform to showcase their success stories and also connect with other businesses for further development and growth. Inspiring real stories of Emirates NBD’s business owners and entrepreneurs who have differentiated themselves through innovation and their ability to adapt to the fluctuating economy, will be showcased on the RISE portal. In addition RISE will also have a strong social media factor leveraging Facebook, Twitter and Linkedin Plus.