Franchising is ideal model for today's economy
The franchisor can reach new markets at minimal costs, while the franchisee can benefit from the strengths of an established brand, training and knowhow
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The Mohammed Bin Rashid Establishment for SME Development (Dubai SME) has hailed franchising as the ideal model for today's economy and urged Emirati and expatriate entrepreneurs to take advantage of support available from Dubai SME.
Farid Karmostaji, Director of Entrepreneur Development Division of Dubai SME, speaking at the inauguration of the second edition of 'Franchise UAE' -- the largest international franchise, retail and business opportunity show in Dubai, said the role of Dubai SME had been expanded to cover the whole of the SME sector, in recognition of the crucial role that SMEs play in modern economies.
"Franchising is one of the most successful ways to start business, and it represents a win-win situation for the franchisor and franchisee," Karmostaji said. "The franchisor can reach new markets at minimal costs, while the franchisee can benefit from the strengths of an established brand, training and knowhow.
Dubai SME, being a part of Dubai Department of Economic Development, can help to negotiate contracts, establish contacts, access data, etc. The Dubai Business Village offers affordable offices for Emirati entrepreneurs as well as other incentives."
Jassem Mohammed Al Bloushi, Chairman, Sharjah Tatweer Forum, a business startup organisation established by the government of Sharjah, said Tatweer's focus is on empowering young entrepreneurs in Sharjah and across the UAE to launch small enterprises and businesses and thus contribute to the national economy. He hoped that the youth would take ideas from events like Franchise UAE and sharpen their entrepreneurial skills.
Gaurav Marya, Managing Director, Franchise Middle East, said: "We have seen tremendous rise in interest in franchising in the UAE and region. The focus of this event is to drive the point that many UAE brands are ready to go global. We believe it is time for homegrown brands to go to New York, Mumbai, Singapore or Honk Kong.
As a concept, franchising is great, because it allows entrepreneurs to foray manage business on other people's money. The success of this event proves that franchising is ready for a quantum leap in the region."
Over 70 brands from UAE, India, Italy, Iceland, Qatar, Turkey, Saudi Arabia, Bahrain and other countries have confirmed participation in the event.
Over 25 experts from the private and public sectors will present insights into new trends in franchising at the Entrepenrearship Forum which is being held alongside 'Franchise UAE 2011'. Among the key speakers will be Dr. Manoj Nakra, CEO of Mohammed Bin Rashid Establishment for SME Development and Mr. Rashid Al Aleem, Director General of Hamriya Free Zone Authority.
The two-day event is organized by Franchise Middle East and supported by Dubai SME - an agency of Department of Economic and Development of Dubai, Ruwad Establishment, Middle East Franchising, Dubai Chamber of Commerce & Industry, Indian Franchise Association (IFA) and Commercial Office of UAE Embassy, New Delhi. Hamriya Free Zone Authority is associate sponsor of the event.
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