Dubai SME seminar highlights the need to differentiate for business success

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CORONAVIRUS IMPACT

Dubai SME, an agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprises (SME) sector, recently hosted a seminar on enterprise value creation, intelligent marketing and competitive customer service for entrepreneurs and start-up businesses.

Titled “How to not only survive but thrive in business?,” the seminar was held under the umbrella of Smeconnect.ae, the networking and knowledge-sharing platform launched in October last year to help entrepreneurs leverage growth opportunities, efficiently manage resources and optimise revenues.
Simon Hodges, CEO of Alchemy Network Middle East, who led the seminar, stressed the need for SME’s to focus on developing specialities and differentiating as a business. He also pointed to the importance of guarantees on quality and service to encourage repeat purchases and ensure customer loyalty.
The seminar was attended by 16 entrepreneurs and business professionals representing varied industry sectors and nationalities, including a significant number of male and female Emirati entrepreneurs.

“The SME concept has gained greater international appeal in view of its resilience, adaptability and sustainability. Smeconnect.ae is part of enabling SMEs in Dubai to network and benefit from the knowledge, diversity and efficiencies being added to this sector,” said Abdul Basit Al Janahi, Chief Executive Officer of Dubai SME.

“SMEs in Dubai have traditionally thrived on the unique geography, culture and efficiency of doing business in the emirate. Up-to-date information on the evolution of this business model and its key drivers will help investors and entrepreneurs in Dubai to build globally competent SMEs out of their start-ups,” Al Janahi added.

Participants in the seminar also heard about how to spend prudently on their marketing to get the best return on such investments. Entrepreneurs were told to adopt a “test-and-measure” approach and evaluate success potential before rolling out actual marketing initiatives.

The need for entrepreneurs to concentrate on all aspects of the business to create a believable Enterprise Value and working on a daily basis to gain the trust of customers was also highlighted in the seminar.

Dubai SME launched www.smeconnect.ae to guide investors and entrepreneurs on setting up and growing their business in Dubai. The website provides guidelines and references to help entrepreneurs through the entire life cycle of their enterprises to achieve growth, promote social responsibility and manage profits and revenues.

A special section for training programmes that help entrepreneurs enhance the performance of their projects through knowledge and learning is also part of the website. In addition, the site includes a special section on events and important occasions relevant to various business sectors.

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