Mechanisms on how small and medium-sized enterprises can raise finance and investments was the focus of 12th TECOM SME Builder organised by Dubai Knowledge Village (DKV), the region's premier destination for human resources management and a member of TECOM Investments' Education Cluster.
The event featured presentations on 'Raising Finance for SMEs' by Yousef Hamza and Edward Roderick from Envestors, as well as on 'Referral Dynamics' by Phil Bedford from The Referral Institute. Held on 25 November at the Dubai Knowledge Village Conference Centre, it brought together more than 100 representatives from the small and medium enterprises (SMEs) sector.
Yousef Hamza, Associate, Envestors, said: "As the only business angel network in the region, our presentation focused on the reality of business and the mind-set of investors. These issues are not covered at business schools, but the concepts are something all SMEs need to know. The discussions covered various avenues on raising finance that has a global success rate of just under two per cent, the reasons for such a low rate and the issues that are considered investor-specific.
"The key point is entrepreneurs have to be realistic and flexible, and understand the principle that they have to give in order to gain. To expect millions of dirhams from investors is no small task, and one has to be willing to take a realistic view at the value of their business. In addition, entrepreneurs also need to understand what an investor would need to take on such an investment risk."
An initiative of TECOM's Partner Development Management (PDM) department, TECOM SME Builder is a platform for small businesses to gain access to experts and consultants in different operational aspects of the industry. The initiative was created on the back of positive projections that recognise the role of the SME sector in the growth of the national economy. According to 2009 statistics,SMEs account for 46 per cent of the UAE's GDP, while making up between 85 - 95 per cent of all businesses in the country.
Dr. Ayoub Kazim, Managing Director of Education Cluster, TECOM Investments, said: "The sustainable growth of the small and medium enterprise sector is crucial for the overall development of the national economy. The session on referral dynamics and raising finance proved valuable to representatives from this sector.
"The SME Builder initiative is part of our ongoing endeavour to organise and facilitate platforms for the community to share global best practices. It demonstrates the commitment of Dubai Knowledge Village to develop human capital in the UAE and the region."
The event was organised in conjunction with TECOM Investments' business partners such as Genesis Institute, Envestors, SUKAD, Potential, Al Tamimi & Company, Wilson Learning, The Referral Institute, Bayt.com, Zawya, Flagship Consultancy, Disruptive Play, MEPRA, Business in Motion, Potential and Stanton Chase International.
Zed Ayesh, Managing Director, Flagship Consultancy, said: "We are pleased to support the latest edition of TECOM SME Builder session. In this one-day session, we have been able to guide owners of small and medium enterprises to enhance their marketing skills by highlighting latest international techniques as well as tailoring global practices for the local market that is becoming highly competitive and result-driven.
"There is no room for trial and error any more. SMEs should start thinking outside the box for solutions and techniques that would enable them to grab a larger market share while developing closer business relationship with their clients through efficient marketing tools. This is what we effectively highlighted to the participants."
Dubai Knowledge Village has created several platforms to facilitate the exchange of knowledge and best practices across the areas of education, project management, leadership, work-life balance, investment, sales, IT, design, HR and tourism. It also hosts industry-specific events focusing on sectors such as oil and gas, banking and finance, as well as investments.
