Isme 29 by SPI Publishing

Issue: 29 â&#x201D;&#x201A; December - January 2016 Strategic SME Partner

Skyrocketing Sales:

Partnering for growth Parvez Sultan Rupani, Managing Director, Skylines, talks about the strategic partnership with Etisalat and their edge in serving the SMB, resulting in rapid fulfilment of essential services for business.

Strategic Alliance Partner

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GUIDING LIGHT Ajay Bindroo, CEO & Managing Partner, Clasico Brands Within a span of 18 months, Ajay has established a global venture that caters to consumer goods ranging from beauty and Personal Care, Grooming products to Oral Care, Bath and Hygiene, Hair Care and Homecare products. Under the flagship brand of “CLÁSICO BRANDS” over a dozen brands have been created and are in the process of being launched worldwide. Ajay is a true visionary with a big-picture. He's the one who makes sure that the company's concept and strategies are the right ones and that "we're staying on track."

Akram Miknas, Chairman and Founder, PROMOSEVEN HOLDINGS B.S.C.C. (P7H) Akram Miknas is known to be one of the pillars of modern marketing communications in the Middle East. He has just been recognized as No. 3 in the Middle East’s 50 Most Powerful People in Media, Marketing and Advertising. His involvement in real estate development, especially after the successful completion of the Pearl Towers (Abraj Al Lulu), anchored him as a leading accomplished developer in the Gulf. In early 2000, he branched into the hospitality business and successfully managed and built several hotels and outlets in Bahrain. His success in this business was crowned by becoming the franchisee of McDonald’s in Lebanon; where he built the business from 7 restaurants to 26 restaurants in 5 years.

Alexandar Williams, Director, Business Development, Department of Economic

Development (DED)

Alexandar Mathew Williams is presently the Director, Business Development, Department of Economic Development (DED), Government of Dubai. He has logged more than 20 years’ experience in SME development and business creation. His interests are focused on the life cycle dynamics of firm growth and mentoring entrepreneurs. In his present job, his main role and responsibility is developing a new initiatives for DED to take it to the next level as a knowledge-driven economic development agency.

Deepak J Babani, CEO, Eros Group Deepak J Babani has been with Eros Group for over 30 years. Mr. Babani has spearheaded the growth of Eros Group from a turnover of Dhs 6 million in 1981 to over Dhs 4 Billion in 2010. Under his leadership, Eros Group has established itself as the leading distributor for Consumer Electronics, Home Appliances, Telecom, IT and Air-conditioning products in the UAE, GCC and East African regions. Mr. Babani joined Eros as Marketing Manager and was promoted to General Manager in 1988 and subsequently to CEO in 2002.

K. Rajaram, CEO, Al Nabooda Automobiles K. Rajaram has more than three decades of experience in the automotive industry, starting his career in Oman in 1983. He moved to the UAE in 1996 to lead Al Nabooda Automobiles, the exclusive dealer of Audi, Porsche and Volkswagen in Dubai and the Northern Emirates. Under his leadership, Al Nabooda Automobiles has changed the face of the UAE automotive market by setting the highest benchmarks in customer service and pioneering the automobile ownership experience.

GUIDING LIGHT Mishal Kanoo, Deputy Chairman, The Kanoo Group Mishal Kanoo serves as the Deputy Chairman of The Kanoo Group, one of the largest, independent and longest running family owned groups of companies in the Gulf region. He is also one of the most iconic business figures in the Middle East, featured on various magazines and listed in ‘Top 100 Powerful Arabs 2013’, ‘The 15 Wealthiest Arab Businessmen in the World 2012’, among others. Subsequently, he worked at Arthur Andersen in Dubai as an Auditor before taking up his current position in 1997. Mishal Kanoo adheres to family values and ideals in pursuit for quality and excellence which therefore greatly influenced his corporate policies and goals for The Kanoo Group as a reputable company.

Paras Dhamecha, Executive Director, Empire Aviation Group FZCO Paras Dhamecha serves as Executive Director of Empire Aviation Group at Air Works India (Engineering) Pvt Ltd. He managed the overall company start up process and has successfully helped grow EAG into a profitable Aircraft Sales and Aircraft Charter business which manages one of the region’s largest fleets of private jets. He is an experienced, qualified jet pilot with an accomplished background in management and finance. He has managed to combine his career experience with his personal and professional passion for aviation, to create successful private aviation businesses in the Middle East. He was a full time pilot in the competitive US business aviation environment. His career includes stints in corporate finance and financial management with organizations like AIESEC and GE Capital in the US. He completed his Bachelor of Science in Management (in Finance and Economics) from Purdue University, Indiana, USA

Rizwan Sajan, Founder & Chairman, Danube Group The Danube Group was founded and established by Mr. Rizwan Sajan in 1993. Over the last 22 years, the group has come a long way since its humble beginnings of a small trading shop in Deira to being the region’s leader in construction, building materials, home interiors and shop fitting industries. The head office & logistics facilities are present at the Jebel Ali Free Zone (JAFZA). Danube has coursed a path that transformed only one shop with 3 employees to over 40 locations in 9 countries worldwide including UAE, Oman, Bahrain, Saudi Arabia, Qatar, Africa and India, in addition to procurement offices in China with an employee strength of over 2,200 people. Being a top ranking business icon, Mr. Rizwan Sajan has been a source of inspiration for driving Danube’s business by leaps and bounds.

Tarek Hajjiri, Director of Legal Policy, Dubai Economic Council Tarek Hajjiri is the Director of Legal Policy, one of the strategic operational arms of the Dubai Economic Council (“Council”) Government of Dubai, UAE. Mr. Hajjiri serves as the Council’s advisory on all legal and regulatory matters at both local and federal levels that effect Dubai’s economy and competitiveness. Mr. Hajjiri through his position as Legal Policy director actively participates in the development of legal strategies and policies by providing policy recommendations that are the culmination of extensive research and collaboration with public and private sector representatives both locally and internationally.

Vikas Thapar, Chief Executive Officer, Emirates Money Vikas heads Emirates Money as its CEO. He was instrumental in the conceptualization and establishment of the company and continues to drive the growth and direction of Emirates Money. Vikas possesses more than 17 years of experience in the consumer finance industry and has worked with Citigroup in India and Indonesia. In his previous assignments with Citigroup, he played a prominent role in setting up the consumer finance business for Citigroup in Indonesia and was an integral part of the consumer finance set-up team at Citigroup India.

Contents

December 2015 - January 2016

16 Skyrocketing Sales:

Partnering for Growth

Parvez Sultan Rupani, Managing Director, Skylines is a BPO veteran and brings an experience of 15 years to Skylines.

20 Top 100 Dubai SMEs

revealed

values on social media

Aviation, Technology, Shipping and Logisitcs

38 P2P Lending: A new age of SME

Intelligent SME puts healthcare, aviation, technology, shipping and logisitcs under the scanner.

24 Insights from Healthcare,

36 Customer service amplifies brand

Intelligent SME extends its heartfelt congratulations to the winners of the Dubai SME100 companies in the third cycle.

30 A will is critical, especially for

SME owners

Having a will and sharing the information therein with your near and dear ones is sound business practice, says Mohammed Marria, Senior Estate Planner at Just Wills.

In today’s referral dominated consumerist world, it is an established fact that customer service is at the heart of business growth.

finance

Peer-to-peer (P2P) finance is built on the ‘power of the crowd,’ a principle of raising finance from a number of people who pool their resources together.

42 Embracing the choices we make

A recipe for success?

You can make a success of any choice but it requires complete commitment to that choice and pursuing it with love, passion and determination says Akram Miknas.

Contents

December 2015 - January 2016

Supported by

44 Horizon 2020 The champions league for small,

innovative European companies A recipe for success?

Horizon 2020, a specific instrument for small and medium sized enterprises, aims to identity small companies with high innovation and strong growth potential.

46 How building material prices influence

property value

Building material prices have remained more or less steady with minor fluctuations over the last six months. Dubaiâ&#x20AC;&#x2122;s construction sector could push prices for construction materials and labor higher over the coming years. It is therefore very important to buy the right building materials at the right price.

52 Rare & Fabulous

High-end luxury products for CEOs and decision makers.

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Publisher's Note Dear Readers,

SPI Group

www.spigroup.ae www.theintelligentsme.com www.robustrak.com www.innovationandtech.ae www.innovationsummit.ae www.dubai-gbs.com www.smeworld.ae Follow us on twitter: @intelligentsme Facebook: facebook.com/theintelligentsme

Publisher & CEO Shantanu A.P. Group Editor Sandeep Sharma Editor Jinal Chheda Asst. Editor Audrey Fernandes Expert Contributors Akram Miknas Bernd Reichert Craig Moore Dr. Ashraf Mahate Jim Kouzes Karthik Kapasi Rizwan Sajan Simon Hodges Art Director Aneesh Varghese Designer Retheesh Viswanath Web Developer Raj Shekar Reddy Project Coordinator Khushbu Ranjan Distribution Department Jerry P. Sam Editorial Enquiries & Contributions

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As we move in to the last month of the year, we canâ&#x20AC;&#x2122;t help but reflect on the change in economic environment that the UAE, and Dubai in particular, has gone through in 2015. From a year of sterling growth in 2014, we are now in the middle of a softening UAE economy due to weak oil prices that have dampened government and consumer spending. This change has brought with it new challenges and hurdles for SMEs. Though SME profits have grown in recent years as the economy grew, a reversal in the economic situation has brought choppy commodities markets and a slowdown in the property sector, financial markets and demand. Even though SMEs contribute 60 percent of UAE's gross domestic product, banks have begun to see them as risky and reports indicate that they have curtailed lending to this engine of economic growth. SMEs that earlier focused on robust governance, compliance, relationships, along with strong accounting standards, stand to benefit during this period. The launch late last year of UAE's credit bureau will be a beneficial factor for SME health going forward. In this issue, we have shone the spotlight on sectors where the slowdown in demand will have a minimal impact in light of the UAEâ&#x20AC;&#x2122;s commitments and plans already in place. These sectors include transportation, alternative energy, logistics and telecoms. Our cover story is about an SME that has proven its mettle in the telecom sector and has grown from being a start-up a decade ago to a strong business now. In partnership with Etisalat, Skylines has shown the way for large corporations to continue to benefit from the outsourcing model and farm out core functions to nimbler operators. Skylines has won numerous telecom awards on the strength of its efficient operations, lower costs, compliance standards and better knowledge management solutions which include Digital Client-based CRM. It anticipates an addition of more than a thousand people to its payroll and growth upwards of 50% in the coming year.

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Partnerships are a proven strategy for growth and the Skylines story is impressive as it has been able to strengthen its partnerships over the years. We hope it will be an inspiration to other SMEs as they look for growth strategies in the coming period.

Subscriptions Enquiries:

I wish you a festive holiday season and a prosperous New Year as you navigate the future.

SPI Publishing

Shantanu Phansalkar,

response@spiholding.net

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P.O. Box: 89735, Dubai, UAE Tel: 04-2659704, 04-2650312 Fax: 04-2690566, 04-2651708 response@spiholding.net

Best Regards,

CEO & Publisher, SPI Group.

Disclaimer

SPI Publishing has endeavoured to bring out a publication that is reliable and informative. This is true to the best of our knowledge. The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.

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December'15 - January '16

Intelligent SME

Business Announcements

Emirates NBD is first UAE financial institution to enrol in VDEP

mirates NBD has signed up to Visa Inc’s. new Digital Enablement Program (VDEP), making it the first bank in the Central Europe, Middle East and Africa region to participate in the programme and offer its unique services to its customer base. VDEP connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. The program builds on Visa's secure token technology and adds a turnkey, toll-free commercial framework accessible to all Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa's first international program partner while Samsung joined the program in August 2015. According to Suvo Sarkar,

Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD, “We are committed to adopting industry best practices that keep our offerings competitive as well as relevant for customers. We were one of the first banks in the UAE to sign up for the Visa Checkout service, which is changing the way people shop online. As the region’s first bank to participate in Visa’s Digital Enablement Program, we are confident of facilitating game-changing online and mobile payment solutions that can be easily availed of by our extensive customer base.” Marcello Baricordi, General Manager UAE and Global Accounts Lead, Visa MENA, added, “In line with our vision of accelerating digital solutions deployment around the world, Visa is excited to partner with Emirates NBD to bring

this innovative service to the bank’s extensive network of customers and partners in the UAE. “As a global technology company, Visa’s goal is not restricted to just developing products, but to pave the way for new and efficient payment technologies to enter global markets quickly and seamlessly through our suite of advanced digital solutions. Through VDEP, we are introducing assets to the UAE that will provide banks and merchants a wider range of options that can help them keep up with the fast-changing digital world.” Participating in the Visa Digital Enablement program enables Emirates NBD to deliver increased customer value through an easyto-implement, secure mobile and digital payment services platform. The platform is enhanced by a powerful combination of secure token technology, risk and fraud management services as well as customer data protection to ensure maximum security. VDEP will also help Emirates NBD expand reach and capability across the region by leveraging Visa’s advanced platform for delivering secure mobile and digital payment services.

Emirates NBD taps into m-commerce with exclusive ‘in app only’ offers E mirates NBD has announced an exclusive set of ‘mobile app only’ offers for debit and credit card customers. The offers have been created via exclusive partnerships with leading mobile commerce brands such as Zomato, Souq and Uber and are valid till 31 October, 2015. The UAE is one of the strongest mobile commerce markets in the world. According to a PayPal Ipsos report (2014-2015), around 57 per cent of online shoppers

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in the UAE made purchases online via a smartphone over the last 12 months, second only to China’s ranking at 68 per cent. The country also boasts one of the world’s highest smartphone penetration rates at 80 per cent, according to a Google study. Commenting on the new m-commerce offers, Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said, “Time and mobility

are extremely important to our customers – they are looking for convenience in all aspects of all their lives. Partnering exclusively with the UAE’s in-app leaders, each the largest within their category and domain, enables us to offer significant value to our loyal customers while using their Emirates NBD Cards. We are helping our customers enjoy new experiences in the UAE while reaping rewards.” The bank’s partnership with

December'15 - January '16

Intelligent SME

Business Announcements Zomato allows food lovers to search for Bon Appetit (the bank’s dining privilege programme) partners across the UAE based upon cuisine and restaurant reviews. Cardholders can enjoy their first meal of up to AED 75 for free, when paying with the Zomato Cashless App against promo code ENBDFREE.

Customers signing up for an Uber account with their Emirates NBD credit or debit card can enjoy a complimentary first ride capped at AED 80 using promo code ENBDUAE. Customers will also receive five per cent rewards points or cashback against Uber

spends in addition to a chance to win hourly cashback of up to AED 100. In addition, Emirates NBD card customers can enjoy a 10 per cent discount with a maximum of AED 100 off on all purchases made via the Souq.com mobile app with the promo code SOUQ10.

Dubai SME completes 21 capability development workshops for SME100 companies; sees participation double 93% of the participants expressed full satisfaction with the programmes

ubai SME, the agency of the Department of Economic Development (DED) mandated to develop small and medium enterprises, successfully concluded the second cycle its the capability development programme for Dubai SME100 companies. The second cycle comprised 21 specialised workshops attended by 890 senior executives, a 94 per cent increase in participation compared to the previous cycle. Further, underlining the

wide acceptance of the capability development programmes rolled out in the last two years, 93 per cent of the participants expressed satisfaction in the second cycle as against 90 per cent in the first cycle. The workshops were designed to enhance the capabilities of the SME100 companies and to enable them to obtain necessary funding and investment as well as to grow financially and enter new markets. Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, remarked that the second cycle of the capability development programme has gone far ahead in terms of quality of the workshops offered as is evident from the rankings given by senior executives. “We are happy with the results achieved. The added value offered by Dubai SME lies in identifying gaps in Dubai’s SME ecosystem as well as proposing changes that companies need to bring about to access capital and sustain growth.” Dubai SME has signed a series of partnerships with prestigious organisations such as Shuaa Capital and International Finance Corporation (IFC), in order to provide customised capacitybuilding programmes for Dubai SME100 companies, particularly in the areas of areas of corporate

governance, investment, and preparing for capital markets entry. Al Janahi added that the corporate governance workshop held in partnership with IFC attracted the strongest participation among the programmes offered, followed by the business valuation programme offered in collaboration with Shuaa Capital. “Programmes in corporate social responsibility (in cooperation with the Dubai Chamber) also attracted significant number of attendees and the participants were unanimous in their opinion that the programmes would make it easier for them to expand in the UAE and across the region." Launched under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, the Dubai SME100 programme identifies and ranks top-performing SMEs in Dubai based on a set of financial and non-financial dimensions. The non-financial dimensions include human capital development, innovation, corporate governance and international orientation. Post-ranking, the SMEs are offered capability development programmes in such diverse areas as corporate governance, business valuation, human capital development, investment development, risk management & insurance, and innovation.

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December'15 - January '16

Intelligent SME

Business Announcements

Emirates NBD brings banking via Twitter to the UAE

mirates NBD has become the first in the region to offer customers the option of conducting select banking inquiries and transactions via Twitter. This first-to-market banking service allows Emirates NBD customers to tweet for inquiries about their current or savings account or credit card, balances, view last five transactions or request for previous month’s e-statement. The bank will respond to queries instantly via a direct message to safeguard customer privacy. The Twitter service adds to the bank’s customer channels which include mobile banking app, online portal, telephone, ATM and an extensive branch network. Commenting on the new service, Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said, “We are committed to creating

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a new paradigm of banking services in the region and beyond, combining the digital and physical to offer a truly distinct customer experience. Time and again, we have effectively used technology to make our customers’ lives simpler and more convenient, as we focus on introducing next generation ‘on the go’ self-service banking. “Our customers today have a deep affinity with social media and mobile-based apps and services. By offering innovative banking solutions though these oft-used digital channels, we want to make banking more accessible and fun.” This service is available by invitation in the first phase. The bank has announced that it plans to increase the number of services and transactions as well as expand to other platforms in the near future. Emirates NBD already uses social media effectively to facilitate direct engagement with customers,

via its half a million social media connections. Digital banking offerings have been well received with one third of the bank’s active customer base using mobile and online banking regularly. Emirates NBD is the only bank in the Middle East to be ranked among the top 25 global banks active on social media in 2014 by The Financial Brand. In addition, the bank gained the 35th spot among the Top 100 banks on Twitter with over 65,000 followers. It has a fan base of over 410,000 on its official Facebook page, making it the largest followed bank on Facebook in the UAE. Emirates NBD’s relentless efforts to drive multichannel transformation has received industry-wide recognition. The bank was recently named one of the most innovative banks in the region by EMEA Finance and Best Bank in the UAE by Euromoney.

P.O. Box 61450, Dubai, United Arab Emirates Tel: +971 4 881 8288, Fax: +971 4 881 9157 Email: AFL.relocations@alfuttaim.ae

2020 READY

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December'15 - January '16

Intelligent SME

SME Updates

SMEs need to rethink IT storage options Interview with Savitha Bhaskar, COO, Condo Protego

he Internet of Things (IoT) era, with its sharp increase in data volumes, has made it crucial for regional organizations to rethink their data storage selection processes or risk information mismanagement, says IT consultancy Condo Protego. According to a 2015 report released by Deloitte, IoT developments in the Middle East are expected to grow at 50-60 percent per annum in associated IoT services, compared to the global growth rate of 40-50 percent, driving data center traffic into the hundreds of billions of gigabytes over the next three years. “Exponential regional data growth – across businesses of all sizes and industry verticals – is inevitable, and an effective ‘tiered-storage’ approach can help organizations make the most of this information,

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maximizing organizational performance while driving down costs,” says Savitha Bhaskar, COO of Condo Protego. “Even smaller regional businesses have started to identify new and varied data storage solutions to keep up with, and effectively manage, the vast amounts of data. There is a wide range of solutions available in the market to suit different performance and cost ratio requirements. Thinking in terms of ‘tiered storage’ is not only for the very big organizations now.” Further adding to the data explosion in the region is the growing recognition by businesses of the importance of customer data analysis, the growing rate of cyber threats requiring space-consuming protection solutions, new software applications and operating systems, and the need for remote accessibility to large media files. In selecting an appropriate data storage solution, Condo Protego advises that the first step is to assess storage needs of a company by classifying data according to criticality, reviewing application data size, and determining required application performance and IO speed for data access. Business owners are then advised to seek professional guidance from a trusted data and storage consultant, who will assess the risks and benefits of the data storage solutions available, and

collectively make a decision on the solution that will best fit business objectives. A wide range of data storage solutions is available in the market, ranging from the now standard SAN/NAS consolidated storage, to ‘high-performance computing’ capable all-flash storage, and the increasingly accessible and cost efficient cloud storage. The best storage solutions are often a combination of the above, either within a single system or across multiple systems tiered to suit different workloads. Skilled consultants can help classify customer workloads and identify the most effective form of data storage for an organization’s specific business needs. Accordingly, the most critical data, such as an organization’s ERP system which runs its core business processes, is given the highest priority and biggest storage budget allocations. Secondary data, such as archival or back-up data should be given lower budget allocations, while unstructured ‘big data’ is more suited to run on a separate and even less expensive storage solution with scale-out capabilities to seamlessly accommodate data growth. “There is no ‘one-size-fits-all’ solution,” says Bhaskar. “Each storage system comes with a unique set of benefits and risks, and there are many important factors to take into consideration before investing in any solution.” “By working with consultants to ensure that a business adopts the most effective solution, CIOs can help decision makers tap into critical business insights, transforming IT from what was traditionally perceived as a costcenter, into a valuable business enabler,” concludes Bhaskar.

December'15 - January '16

Intelligent SME

SME Updates

UAE Minister of Economy calls for increased trade to ensure stability “Increased trade across borders is perhaps the strongest enabler of geopolitical stability. However, we need to evolve efficient means to drive and facilitate this trade.” said Al Mansoori, highlighting the central theme of his speech; the potential of the global trading system to deliver shared economic prosperity. Pointing out the means towards stimulating global economic growth, he added. “We have to find new sources of income, and enable access to trade, finance and investment to create conditions for inclusive and sustained economic prosperity. Global Trade Development Week presents a forum where business leaders - whether they are SMEs, multinationals or owners of family businesses - can link directly with government departments and key representatives from investment and finance, to explore how they can grow their businesses, and trade across borders. This ease of doing business is a crucial prerequisite to sustainable economic growth.” Global Trade Development Week, organized under the patronage of the UAE Ministry of Economy is now an established major annual forum and exhibition dedicated to the advancement of

the international trading system. The Minister used his speech to express the crucial role trade had played in the history of the UAE and spoke on the growth of the UAE’s non-oil trade volumes, H.E. Al Mansoori said, “Trade played a major role in the history of our region and country. It continues to be a vital tool to leverage economic growth and development. Trade numbers are ever increasing, reflecting the growing role of the UAE in international trade. The UAE’s non-oil trade volume grew from 1.5 trillion dirhams in 2013 to 1.6 trillion in 2014 and we are determined to further increase these numbers. The UAE is now the fourth largest re-exporter worldwide as it establishes itself as a vibrant hub for global trade.” The role of innovation and SMEs as drivers of the global economic growth are both central themes for the Global Trade Development Week 2015, and in reflection of this focus, H.E. Mansoori underlined the role of SMEs in the global economy, “We are keenly aware of the important role that SMEs play as key drivers of innovation and as engines for economic growth. The SME sector contributes to nearly 60% of the UAE’s GDP.

As part of our national strategy outlined by the UAE Vision 2021, we aim to raise the contribution of this vital sector to 70% over the next six years.” Emphasizing the importance of innovation as a driver of economic growth, the Minister said, “The theme for this year’s forum, ‘Innovation in Global Trade and Economic Development’, is a subject of particular relevance to the UAE. Innovation is a key pillar of our 2021 Strategy. The UAE is committed to creating innovative institutions and policies that will promote sustainable economic development through enhanced trade and international investment attractiveness.” Ayesha Al-Kobaisi, Director of International Trade Organizations Department and the Project Director for Global Trade Development Week from the Ministry of Economy adds; “A major objective of the work of the UAE Ministry of Economy is to boost our economic ties with trading partners across the world and also reduce barriers to trade and investment by connecting with the audiences at Global Trade Development Week. We also encourage UAE businesses to attend this major annual event and we hope to make progress towards achieving these aims.”

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December'15 - January '16

Intelligent SME

Skyrocketing Sales:

Partnering for Growth

16 www.intelligentsme.com

December'15 - January '16

Intelligent SME

SME Enablers

Parvez Sultan Rupani, Managing Director, Skylines is a BPO veteran and brings an experience of 15 years to Skylines. A leading UAE voice in telecommunication and international development, his visionary leadership has helped the organization achieve double digit growth year after year. He is proud of the fact that “Skylines has become the dedicated point of contact for Etisalat services through our quick uptime and rapid fulfilment of essential services for SMBs.”

hat was your strategic vision when you set up Skylines?

I started Skylines to meet the fast growing business demand for outsourced sales and customer solutions to the thriving telecom sector. It was about innovation and great technology then, and still is today. We also wanted to contribute to the economic growth, employment and prosperity of the country. A growing SMB sector is a healthy sign of sustainable growth of the industry and we are happy to play our part in the country’s prosperity. We are proud to have grown beyond the industry curve over the past years in the Middle East region.

What is Skylines’ role as a growth catalyst for SMEs? Since inception, one of our main objectives was to create a platform

to enable Emiratis to be creative and self-sufficient. Our efforts are focused on creating jobs and fostering innovation. Skylines provides a range of business services to entrepreneurs and corporate clients to build their businesses. We are also involved in various projects as an active investor for several entrepreneurs and will reveal these success stories in due course.

What is your growth ambition in the next five years? Skylines has major business plans chalked out for the next five years. One of them is being part of the transformation within the organisation being implemented by Etisalat. There will be more than a thousand employees added to our workforce in the next five years to deal with the business expansion across the country. Skylines plans to accelerate its dramatic recent success and we

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December'15 - January '16

Intelligent SME

SME Enablers

Parvez Sultan Rupani, Managing Director, Skylines

anticipate a 60 percent growth in personnel and revenues over the next five years.

As a result of your long association with the telecom industry, what trends do you foresee? I have worked in the UAE telecom sector for the last 15 years. The industry has changed dramatically and in the next decade telecom players will achieve even higher growth. The telecom market today is highly competitive. The major challenge for market players is to retain and build new revenue streams. Data management will become increasingly critical to business operations. The broader telecoms environment will continue to be challenging and there will be many technological, economic and regulatory changes that the industry will face.

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Could you share some insights about what SMEs need to do to compete in the UAE, in terms of communications and technology requirements? SME businesses should focus on constantly improving and re-engineering the business processes to improve efficiency. Today there is limited focus on training, development and up skilling of employees. Additionally on the technology front, more organisations need to adopt advanced enterprise level systems (such as ERP, CRM solutions) to develop their business potential.

Tell us about your strategic business partnership with Etisalat? Etisalat has always led in developing new telecom solutions tailored to various business

segments. This specialisation has helped us as we are expanding our presence in the UAE by offering customised business solutions. We are working closely with Etisalat on how far and how fast to grow the business and our association has a lot more room to grow.

How is Skylines adding value to Etisalat’s SME segment propositions? We have signed an agreement to resell a range of Etisalat's services to SMBs in the UAE. Under the agreement, we are offering a range of services and solutions such as Etisalat’s Business Ultimate (business post-paid plan), Business Quick Start (bundle of broadband fixed voice) and a wide range of office devices at zero upfront cost through our in-house and outdoor sales team. We add value to Etisalat’s SMB propositions by giving them easy

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Intelligent SME

SME Enablers access to Etisalat services backed by our dedicated account managers. Skylines is the dedicated point of contact for Etisalat services and we have brought quicker uptimes and faster fulfilment of essential SMB services.

Etisalat has always led in developing new telecom solutions tailored to various business segments. This specialisation has helped us as we are expanding our presence in the UAE by offering a customised business solution

What differentiates Skylines from Etisalatâ&#x20AC;&#x2122;s other business partners? Our technology expertise in CRM/ HRIS and investment in dedicated resources are key factors that give us a competitive edge as an Etisalat partner. We also aggressively provide Etisalat services to companies looking for the latest telecom solutions so that they can enhance their productivity and efficiency.

What are some of the key partnership objectives for Skylines and Etisalat as you deliver consistent

service standards to SMBs? Etisalat is the regionâ&#x20AC;&#x2122;s market leader, with a bundle of tailored and innovative solutions. Our key focus area is to support Etisalat objectives in helping the growth of the SMB sector in the UAE. For this, we ensure that we assign dedicated account managers and hand-pick our salesforce. Our people are continuously assessed and developed to assure the best service quality and this leads to our relationship stability with Etisalat. We are planning to conduct quarterly customer reviews and ask for feedback across every aspect of our service provision. We aim to address customer issues with a commitment to continuous improvement.

What is your key success factor as Etisalatâ&#x20AC;&#x2122;s top business partner? Skylines has maintained this success with Etisalat due to the effective management of human resources as we have ensured that there is no negligent hiring and retention in our organisation. We set measurable targets, performance standards and priorities for these targets. This has helped in establishing responsibilities and authority levels for employees. However, a key success factor is the continuous support from the Etisalat senior management that has helped fine-tune our processes.

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December'15 - January '16

Intelligent SME

SME Achievers

Top 100 Dubai SMEs revealed

is Highness Sheikh Ahmed bin Mohammed Bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Foundation and President of the UAE National Olympic Committee, honoured top 100 SMEs in the emirate that made it to the Dubai SME100 ranking in its third cycle at a ceremony held at the Madinat Jumeirah Dubai, on 15 November 2015. “Today, Dubai – because of its global reputation as an entrepreneurial hub – is increasingly becoming a launchpad for SMEs in vital sectors such as health, education, information technology, logistics, tourism, hospitality and others. Many enterprises thus launched have also successfully expanded to neighbouring markets in the region. Dubai SME100 continues to inspire many of these emerging companies and their innovations as well as growth,” His Excellency

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Sami Al Qamzi, Director General of DED, said at the ceremony. “Micro enterprises account for 72% of the total business population in Dubai, small enterprises constitute 18% and mid-sized businesses, another five per cent. Mid-sized businesses contribute to about 17% of the total value added to the economy of Dubai, while the respective share of small enterprises is 14% and that of micro-enterprises is about 8%. In the trade sector alone, SMEs account for 47% of the total value added while the respective share in the service sector is 41% and 13% in the manufacturing sector,” said Al Qamzi. Al Qamzi also referred to the growth that Dubai SME100 achieved within its first two cycles during which 200 SMEs benefitted from the programme. The number of enrollments in the third cycle was 4,532, an increase of 49% compared to 3,041 companies in the second cycle. Together, the companies enrolled in the third cycle represent net revenues of AED69.5 billion and a workforce of over 144,000. The service sector represents the lion's share of registrations in the third session with 57% while 34.5% (1,565) are trading companies and 8.4% (382) are manufacturing firms. The 2015 ranking saw a

substantial rise in SME enrollments and Dubai SME restructured the ranking criteria by adding Corporate Social Responsibility as one of the themes and increasing the weightage for Innovation in classifying the companies. Commenting on the progress of Dubai SME100, Abdul Baset Al Janahi, CEO of Dubai SME, said that 88 companies among the top 100 in 2015 have achieved doubledigit revenue growth over the last three years, compared to 81 such companies in the 2013 ranking and 53 in the 2011 cycle. Companies that have achieved over 20% growth in revenues and hence classified as high-growth have a strength of 69 among the top 100 in 2015, an increase of 28% over the 54 such companies in 2013, which was a 32% increase from 41 companies in 2011. Net profits of 78 companies in the 2015 list saw double-digit growth in the last three years compared to 71 companies in the 2013 list and 48 in 2011. “Dubai SME has been evaluating the performance of 42 companies that participated in more than one cycle of the ranking and we saw that 98% of them were able to achieve revenue growth of up to 33% and up to 47% growth in profits in the last three years. Their net sales grew from AED 1.36 billion to AED 2.15 billion, with an increase of 158%, in the same period their profits increased 187%, from AED 134 million to AED 250 million. In addition, these companies have been able to create new jobs and raised their total workforce from 2,332 employees to 3,601 employees, an increase of 154%," said Al Janahi. Intelligent SME extends its heartfelt congratulations to the winners of the Dubai SME100 companies in the third cycle.

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Intelligent SME

SME Achievers

2015 DUBAI SME100 Overall Ranking RANK

Name of the Company

Name of the CEO

Dimara International

Mohamad Sharif Alzarooni

i-General Trading

Ibrahim Ali bin Shaheen

Dubai Desert Extreme (DDE)

Shahriar Khojasteh

Bin Touq Fire and Safety

Obaid Khadim Bin Touq Al Marri

Paramount Computer Systems

Premchand Kurup

Sea of Incense and Perfume

Yasser Ahmed Almuflehi

SamTech Middle East

Samir I. Abdul Hadi

Future Link

Sam Alawiye

RSA Logistics

Abhishek Ajay Shah

INDEX Holding

Dr. Abdul Salam Al Madani

Appetite Catering Services

Manar Al Jayouchi

Levtech Consulting

Manjunath T R

Beta Information Technology Co.

Osama Al Daour

Quick Registration

Mohammad Khalifa

German Imaging Technologies (GIT)

Dr. Sassan Dieter Khatib-Shahidi

Barrel Energy

Mohammed Bin Ahmed Abulhoul

Pure Logic Group

Samuel Lehain

Nimai Management Consultants

Pankaj Mundra

Entourage Marketing & Events

Mohammed Tayem

Coffee Planet

Robert Jones

Emitech Technical Services

Rahul Duragkar

DNS General Trading

Dinesh Sajnani

SPF Realty Real Estate Broker

Ranjeet Chavan

MASSAED Installation of Elevators and Escalators

Jumah Al Mazrooie

IXTEL Technologies

Rashed Alshamsi

Biz-Group

Hazel Jackson

Easy Lease Motorcycle Rental

Ahmad Al Sadah

Nets International Communication

Jahangir Ahmad

Corporate Business Services

Ayman Al Awadhi

Pasta Regina

Stefano Brocca

Orient Planet

Nidal Abou Zaki

DC Pro Engineering

George Berbari

Centena Group

Sanjay Raghunath

Home Grown Children's Eco Nursery

Lucy Bruce

Logistics Company Limited

Rajesh Patel

WMS Metal Industries

Mohamed Nassar

AKM Foodstuff Trading

Ajit Kumar Mishra

Papers Worldwide Limited

Vikramjeet Judge

Linkviva

Niousha Eshan

Infotouch

Amitabh Tiwari

Socialize Group

Akanksha Goel

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December'15 - January '16

Intelligent SME

SME Achievers

RANK

Name of the Company

Name of the CEO

Bin Touq Transport

Omar Al Emadi

Radiant Engineering

Pankaj Jain

Mediatech

Ged King

MAClines General Trading

Maria Sylvia Fernandez

Diva Modelling & Events

Nicole Rodrigues

TED Computer Systems

Ramesh Iyer

Merlin Digital

Suhail Bachani

TechKnowledge

Mohamad Al Baghdadi

Za'abeel Studio

Ali Essa Juma Muhammed

The Box Self Storage Services

Wadih Haddad

DABO Events

Lucy D'abo

Al Shami Sugar & Grains Packing

Khalid Al Shami

Dubai Technologies

Ahmed Al Rafi

OP3 Design

Charles Chang

PTL Solar

Prabissh Thomas

MODEC Building Materials Trading

Amanat Hussain

Blossom Education

Zahra Hamirani

Constromech

Mayur Porecha

Timelapse Middle East

Nadir Jairaj Sarfraz Mansuri

King's Palace Real Estate

Sami Al Sawalehi

Help AG Middle East

Stephan Berner

Reliable International Company

Basharat Ahmed

Centre for Musical Arts

Tala Badri

Codic Studios

Yusof Al Sayegh

Nahar Building Materials (Nahar Group)

Amal Mohammed

Careem Networks

Magnus Olsson

Aspen Engineering Services

Mohamed Hanifa Al Ameen

Simple Office

Abdualmnem Sharaf

Al Kawthar Mineral Water Trading Co.

Mr. Abdulla Bin Hamed

The Links Group Ltd.

John Martin

L M Trading

Ashok Phatnani

InternsME

Jean-Michel Gauthier

Chilly Willy Trading Co

Satheesha Venkatramana

Spectrum UAE Limited

Daniel Rodgers

Doctor Vending

Juan Pablo Nabas

HTP Global Technologies

Rajiv Jain

Sanipex Group

Daryl Barker

Topnet Distribution

Kandasamy Ganesan

PetroGas Piping Middle East

Nazmuddin Mohammed

Raw Coffee Company

Matt Toogood

Universal Soil Testing Laboratory

Eissa Mohamed Ali Al Balooshi

Al Sharqi Shipping Co

Kash Rafiq

Dynamic Engineering Consultants (DEC)

Nasser Al Hai

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CMY

December'15 - January '16

Intelligent SME

SME Achievers

RANK

Name of the Company

Name of the CEO

Eton Institute

Dr. Eli Abirached

Adonis DĂŠcor

Muneer S. Arackal

Tablix Technology

Gopu Nair

MD Interior Design

Monther Darwish

Carfax Private Tutors

Alexander Nikitich

Souqalmal.com

Ambareen Musa

Barcode Gulf

Madhu Pallath

Tour Dubai Floating Restaurant

Anup Surendran

Himatrix Middle East

Nadeer Ali

Iqraa Arabic Langauge Center

Yusra Al Hashimi

Global Trust Enterprises

Muhamed Yusuf

Petit Bout Chou/Potentiel Nursery

Randa El Himyari

Insignia

Gaurav Sinha

Duplays Sports Services

Rhavi Bhusari

International Business Consults (IBC)

Dr. Ashok K. Chaturvedi

100

Cafe2go

Jassim Albastaki

Jade the fields Half Page Print Ad_08-11_OL.pdf

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Intelligent SME

Best at Business

Insights from Healthcare, Aviation, Technology, Shipping and Logisitcs Intelligent SME puts healthcare, aviation, technology, shipping and logisitcs under the scanner. Here, we cover the views of the finest small and medium enterprises that deliver innovative solutions and contribute immensely to the UAE’s economy. Innovative healthcare solutions with Raghavan Srinivasan, CEO of Emitac Healthcare What businesses is Emitac Healthcare Solutions in? Emitac Healthcare Solutions (EHS) came into existence as a part of Emitac Technology Company established in 1974 and is a part of the Bukhatir (BIL) & Gobash (GTI) Group of Companies. EHS provides the entire spectrum of Healthcare Solutions right from Medical Equipment, Healthcare Technology, Medical equipment Planning and Turnkey Project Management. Our Test & Measurement Solutions business unit handles the widespread Test & Measurement needs of the telecommunications, electronics, education, metrology, military, and healthcare sectors in the UAE. Emitac Calibration Services LLC is an independent entity that handles the diverse calibration requirements of the industry. Our state-of-the-art, ISO 17025 accredited calibration lab, located in Dubai, gives us a competitive edge in the market, by offering high-tech calibration services for all kinds of test equipment. Our Etqan Medical Healthcare Solutions offers a similar portfolio as EHS in the Kingdom of Saudi

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Arabia. With the Saudi FDA Registration complete, we are set to create a new benchmark for service in the Kingdom. Our team includes a hand-picked group of committed and driven professionals from the local talent in KSA, with superior skills and knowledge of the Saudi healthcare market.

What innovative products does the company offer? EHS as an organization has always made an attempt to bring the best global healthcare equipment and technology to the UAE. Some examples are: • SKYTRON –Lights & Booms - Skytron’s ceilingmounted booms offer simplified access to lights, displays, medical gases, utilities and other healthcare equipment. • STANLEY – Hugs & Kisses - Newborn infants require special protection to keep them safe from abduction and mother/infant mismatches. Abductions can occur anywhere in the hospital – almost 20% happen outside the OB unit – and the system of matching ID bands for pairing mother with baby is purely manual and prone to human error. With our extensive market knowledge and well established partnerships with some of the world’s leading healthcare and technology providers, we continue delivering the highest standards of quality care.

Who are your clients and what services do you provide? With more than 40 years of experience in the industry, our integrated team of professionals have deployed

December'15 - January '16

Intelligent SME

Best at Business

several clinical and IT solutions in a number of leading government, semi government, military and private hospitals in the MENA region. Emitac Healthcare Solutions offers a vast array of innovative solutions and services to its diverse clientele to address the dynamic and complex requirements of the healthcare industry.

Essentially, our portfolio in healthcare solutions encompasses: • • • • • • • • • • •

Patient Monitoring & Critical Care Solutions Anesthesia & OR Solutions Hospital & Patient Room Furniture Solutions Radiology & Imaging Solutions Healthcare Informatics & Technology Clinical & Analytical Solutions Neurology Solutions Neonatal Solutions Medical Consumables, Sensors and Disposables Technical Support Services Maintenance Management solutions

How do you cater to big businesses? Which companies and sectors do you work with? Our Projects Unit has been appointed by Dubai Healthcare City as one of the Design Consultants for Dubai, and is supported by GENESIS Planning, a US based leader in medical equipment planning and architectural designing solutions. We provide a onestop-solution for all their medical needs of caregivers across the UAE. With a core competency in handling turnkey operations, this business unit also offers end-to-end solutions in Medical Equipment Planning, Architectural Design Planning, Procurement and Project

Managements, Turnkey Hospital Furnishing Solutions and Mobile solutions and Consultancy Services. Over the years, our Projects Unit has executed several large, full spectrum healthcare assignments for public and private players, such as Ministry of Public Works, SEHA, Ministry of Health and Dubai Health Authority. We have set an excellent track-record in deploying fully-fledged healthcare turnkey operations in the region. Our private hospital clients include American Hospital, Cleveland Clinic Abu Dhabi, Mediclinic, Al Zahra Hospital, Zulekha Hospital and Medcare Hospital.

Do you closely work with government entities? How are you associated with them? With the robust growth fo the healthcare industry, most projects are unique in their own way EHS has brought the best in quality and high-end design concepts to them, matching the high expectations of the end users and consultants in this market. EHS works with governmental and private hospitals and healthcare bodies like the Ministry of public works, Ministry of Health, Ministry of Presidential Affairs, DHA, Musananda, SEHA etc to deliver the best they need.

Being a small and medium enterprise, what is your vision and future goal? Our vision is to be the most preferred healthcare solutions integrator in the MENA region. Emitac Healthcare Solutions constant endeavor is to make all associated with us experience excellence.

Paras Dhamecha, Executive Director of Empire Aviation Group – the champion of personalised aviation services What is Empire Aviation Group (EAG) all about? EAG (www.empire.aero) is an integrated private aviation services provider, offering aircraft sales, management, charter, and finance and insurance. Since formation in 2007, the company has grown year on year and operates globally. Today, the company has more than 150 staff and operates one of the region’s largest managed fleets of business jets, with more than 25 aircraft under management, in the Middle East, Africa, India, Europe and the Far East. EAG also operates a full-service branch operation in India, and a dedicated, pre-owned aircraft sales office in the USA. We have just announced the opening of our new subsidiary and operation in San Marino and we bagged the AOC award by the San Marino CAA – the first to a company from the Middle East to do so.

What are the strengths of Empire Aviation’s business? • Focus – we focus on our core competence of private aviation services and the skills and experience of our team reflects this.

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Intelligent SME

Best at Business

• Specialisation – within our field of operation, we concentrate on aircraft management services (asset management), which is at the heart of our operations and drives other areas of our business. • Personalisation – we have learned that through strong and weak economic cycles, the quality of our relationships with clients is the key criteria for success and this demands a very strong degree of personalisation for every aircraft owner with whom we partner.

The vast majority of our clients are private individual aircraft owners, who may be heading their own or their family’s business. These are people who demand a high degree of attention and support at all times and who value the personal approach that we take at EAG.

Do you closely work with government entities? How are you associated with them?

Who are your potential clients and what services are offered to them? The EAG team focuses on full-service aircraft management for aircraft owners with an asset management approach that means EAG also assumes responsibility for maintaining the aircraft and protecting its value for the owner, over the operational life of the aircraft. EAG works with all the major global business jet manufacturers and so can advise owners - based on our considerable experience and with a high degree of impartiality - on acquiring and managing the right aircraft to meet specific needs. EAG can manage the entire acquisition process, including registration and induction of new aircraft into the fleet. EAG’s unique ‘asset management’ approach focuses on highly personalised aircraft management services at the core of the company’s operations. EAG helps aircraft owners acquire and optimise their investment by operating and maintaining the aircraft to the manufacturer’s standards required to protect its longterm value. The company has achieved double-digit revenue growth and has been profitable since launch.

How do you cater to larger clients with your services? Which companies are you working with?

EAG has undertaken occasional specialist aviation projects with public sector orgnaisations in the UAE but our core client base is private owners.

Being a small and medium enterprise, what is your vision and future goal? As an SME operating in the service sector, we face the challenges of scaling up our business model and sustaining the quality of service and high level of personalisation that our clients demand. Changing the regional market’s view of the business jet (from a prestige luxury to a business tool) has been central to success supported by our distinctive, personalised asset management model. Each aircraft owner is a unique business requiring a tailored solution. EAG’s managed aircraft come from a balanced mix of first time buyers and current owners – and from all the major manufacturers. After successfully building the business model in the region, EAG is now replicating it internationally. The evidence of our success is clear in the continued expansion of our managed fleet as owners show their confidence in our capabilities, and the recent awards we have received – EAG was the winner of the ‘Aircraft Management Service Provider of the Year Award 2015’ at the ninth annual Aviation Business Middle East Awards (October) and the Service Excellence Award for Aircraft Sales and Aircraft Management Services at the Gulf Aviation Networking Event (September).

Shadi Al Hasan, CEO of Flagship Projects FZ LLC: Increasing the technology component in communications What is Flagship Projects all about? Flagship is an award winner creative communication solutions provider and a market leader in nurturing and developing projects for many regional brands. Flagship innovates alternative practical solutions which activate processes and communications in the most effective ways using the best tools available. Our creative outcomes translate into different channels from online, mobile apps and social media to conventional methods of communications.

Being a technology company, what type of projects do you undertake? We handle communication campaign delivering messages and brand positioning through digital tools and channels, focusing on CSR and public sector communication for the local and regional markets

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Intelligent SME

Best at Business

Who are your potential clients and what projects have you accomplished for them? We work closely with the many government agencies in the UAE with special focus on Dubai smart initiatives including Smart learning, Smart Gov. and Smart City solutions. Weâ&#x20AC;&#x2122;ve developed the official Government app store for all government apps as well as the Federal feedback management system for TRA (telecommunications Regulatory Authority). We developed the smart app and web solution for Dubai Culture and Art Authority which was the winner of the previous Government Summit Award for best Government app in Tourism.

How do you cater to larger technology corporations? Which big tech companies have you worked with? We have strategic partnerships with telecommunication and technology providers locally

and internationally such as Apple Middle East, Samsung Middle East and Du Telecom. We specialize in localizing solutions, to match the local culture, language and customers' needs.

Do you closely work with government entities? How are you associated with them? Yes, since we launched our services in Dubai 14 years ago our main client base is Dubai Government. We offer 360 communication solution starting from branding and communication strategy todeveloping and building their digital and social media channels.

Being a small and medium enterprise, what is your vision and goal? Our vision is to play a key role in setting the fundamentals of modern communication solutions for the region through innovation and localized strategies.

December'15 - January '16

Intelligent SME

Best at Business

SamTech, the environmentally conscious IoT provider: Samir Ibrahim Abdul Hadi, CEO of SamTech What is SamTech all about? We have been in the UAE market for more than 12 years, developing a state-of-the-art technology for IoT solutions and location based sevices which integrates GPS, Satellite, Tetra and other wireless technologies with Internet. We have an experienced team and a strong infrastructure and offer our stakeholders a sustainable solution for the long run, capable of working for medium to large organizations including Government institutions. SamTech continuously strives to bring innovative and integrated solutions to meet client requirements for a smarter management which enhance efficiency and productivity and raise the level of services to companies and government institutions operating in the Middle East and Africa.

Being a software based company, what are the different smart solutions you design? We have a customer centric approach where we sit and discuss with our clients to understand their needs. We come up with software applications integrating hardwares is nesesary to deliver the right solution. Our solutions include Smarttrace, a fleet management solution; Smart School Bus that use CCTV, panic button, driver ID and child tracking through RFID. We can manage the attendace as well bus tracking to ensure children safety. Smart Job Management

is our work automation module to keep the team in the field and the back office connected and updated about jobs completed. Smart Waste Management, using bin sensor and automatic collection schedules along with route optimization companies, can have their operations. Vessel tracking provides the location of boats/vessels using satellite communication.

Who are your key clients and what services does SamTech provide them? We have clients in different industries. FMCGs benefit from on time alerts of temperature changes while the goods are transported. Facility management software manages their teams in the field and monitors work performed as well as the punctuality of the worker. Waste Collector software optimizes operations and reduces fleet usage. Companies in Logistics can also track the container locations. Schools can monitor the location of children from the moment they are picked up until they reach the school or home ensuring they are never left behind. Aside from fleet management related projects we have developed and deployed a Smart Training Center for taxi drivers which aims is to ensure that drivers have adequate knowledge of different locations in Dubai. For a network operator, we installed and integrated GIS Map System for Information Services where the customer/tourist calls

a specific number to request for location guidance and navigation to points of interest.

How does the company adhere to CSR initiative? We have policies and procedures to ensure our company and employee behaviour is responsible on four fronts: workplace, marketplace, community and environment. As an SME our role is to spread awareness to ensure all stakeholders are aware of our joint responsibility.

Being a small and medium enterprise, what is your vision and goal? We want to be the regionâ&#x20AC;&#x2122;s most trusted and environmentally conscious IoT solutions provider.

Moving goods by air, land and sea: Ishwar Jodha, Managing Director of Triple Crown Shipping and Logistics What is Triple Crown Shipping and Logistics all about? Triple Crown shipping and logistics llc formed in 2004 is a one window concept transport solutions

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company, by air, land or sea. We believe in Class, Speed, Consistancy and Heart in the business of transportation.

What transportation and

logistics services does the company offer? The company offers all services that one can come across in the movement of goods from

December'15 - January '16

Intelligent SME

Best at Business

orgin to destination. This is not restricted to port to port but inclusive of movements from factory to site. It is not limited to frieght and transport alone, we have the expertise to handle all documentation, customs clerance and warehousing requirements as well. We undertake to look after our customer needs for small air frieght parcels to large over sized shipments that need special handling.

our regular clients required us to ship large chillers from factories in USA and deliver them to sites in Dubai. Another example is the district cooling plant for the Palm Jumairah. We also manage storage and distribution for one of the worlds largest generator manufacturers. Among regular other business, we handle a large company that contracts with air port authorities for installation of adertising panels and furniture.

Who are your clients and what projects you have accomplished for them?

Do you closely work with government entities? How are you associated with them?

We have a client base not only in UAE but internationaly. We cater to all the clients logistics and transportation requiements through the exclusive membership in some of the best worldwide freight networks. We have managed, through our network partners, every kind of shipping requirement, from clients who require us to pick up, ship and store in Jebel Ali freezone for distribution in the region, to just in time deliveries for small retailersin Dubai. We have catered to large MNCs and corportations. One of

Unfortunately we have not had the opportunity to work with any government entity as a direct client, although we have, through our large customers, handled shipments of the government. Our interaction with Government entities thus far has been more of a service provid for our activities, related to customs, ports and air ports.

Being a small and medium enterprise, what is your vision and goal? The SME sector has had good

exposure and a push from not only the Economic Department of the Govt of Dubai but also banks and other financial institutions and investment companies. Being ranked in the 2011 and 2013 DUBAI SME100 rankings has renforced our commitment and vision to be among the best in complaince with corportate governance. Our growth will come through complaince and our goal is to eventualy tie up with strategic worldwide partners to grow within the region.

December'15 - January '16

Intelligent SME

Making a Will

A will is critical, especially for SME owners Having a will and sharing the information therein with your near and dear ones is sound business practice, says Mohammed Marria, Senior Estate Planner at Just Wills. He talks about drafting a will as per laws of the home country and having an executor in place. Please share the story of Just Wills. MM: Just Wills is a UK based company, existing since

1989. We set up a corporation in the UAE in the 2005. Since then we have concentrated on succession planning for expats in the UAE. We try and make them understand what they should be doing to manage their post death scenario. We educate about the importance of a will and explain the issues faced and provide tips to secure the future.

What is the expertise of Just Wills? MM: It is important to understand the concept behind a will, the advantages, and benefits. An expat should know that even in an unknown country, there is a system available to secure assets. I usually find that people think for the short term. While earning, they donâ&#x20AC;&#x2122;t realise how days become weeks and weeks turn into years. After a long time as an expat they may have no protection for assets or savings. We make them aware of what can be done and how important it is to secure yourselves wherever you are.

How important is it for an individual to have a will? What are the repercussions of not having one? MM: It is very important to have a will as no one can

predict the future. If meet with a car accident, what will you do? A will helps the smooth transition of your assets to your near and dear ones. Expats cannot blame others or the system and our job is to make them understand beforehand and help them take this matter seriously. People on an average salary may not have any investments or savings but the gratuity, life insurance and other benefits or a car can be monetised. If you

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December'15 - January '16

Intelligent SME

Making a Will

don’t have a will in place you are depriving your near and dear ones. If something happens to us here who will look after our children? In extreme cases, children can even be handed over to judicial custody. So for your children’s or your family safety, it is important to have a will in place.

What needs to be taken into consideration when drafting a will? MM: There are few housekeeping

tips when you draft a will. You should make a proper list of all the assets you have and share your secret or personal information with your near and dear ones. You should have separate bank accounts and be aware of the amount you have in all the accounts. The same information should be shared with your wife or your near ones to allow them access to money after your death. An inventory and sharing of information is a must. If you have a loan then life insurance is mandatory as it will protect your family. Even for credit card debt the bank can chase your family for payback. Family members should have a separate visa as the residence visa of the dependents is immediately cancelled and they must leave the country within 30 days. Therefore, information shared or listed, separate bank accounts, life insurance and separate visas are important.

The UAE follows the Islamic Sharia principles; hence the will is also prepared in accordance to the said rules. However, when it comes to expatriates, is this particular will valid in his/her home country? MM: The drafting of a will is done as per the passport. For instance if you have an Indian passport the will has to follow clauses under Indian legal system. But if you have an asset or property investments and savings in the UAE then there has to be separate will which follows Islamic Sharia Laws.

In the UAE, the system allows you to draft the will as per the laws in your home country but they have a right to freeze your bank accounts here because they want to make sure your debts are paid and your liabilities are cleared. If you still want to cancel your visa, then follow the housekeeping tips whether you have a will or not but you still have an order to follow. There is an order in place and thus the will can be made as per individual’s home-country law.

Why is appointing an executor a must while preparing the will? MM: It is important to have an

executor who will have your bank account details and give money to your family. That’s the responsibility of your executor. Even if you have money in your account in your home, there has to be someone who can access your account and that someone is the executor. His role is similar to that of a PRO. After the person dies, it is the role of the executor to collect the death certificate and access your account, protect your assets etc. You need to share all your information- bank accounts, security passwords, investments and savings with your executor. They can be anyone you trust from among your family members. In case you don’t have family here, you can appoint a company like ours which offers professional executorship services.

What is the format of preparing a will? What are the clauses that are taken into consideration? MM: As I mentioned every country

has different laws. For example, in India when it comes to an ancestral property they are very strict about it. You need to make separate will for Indian assets as per Indian clauses and for the UAE as per Islamic Sharia principles. We follow the federal law here when drafting the will in the UAE. We collect and check all the information, correlate it, prepare the will on plain paper and then take it to the court to notarize it.

Elaborate on the Estate Planning Organization based in the UK? MM: In the UK, we have a very

mature system when it comes to making wills. In estate planning, there are several companies that can assist you. Estate planning is not only about wills but there are other documents that you need to apply for. For example, you can gift your share of the estate, which may not be for the tax purposes, in advance. That’s why in UK we have estate planning organization wherein you can make the will more tax efficient at the time of death. But in the UAE, you know the we don’t have inheritance tax and it follows different system. It is difficult for expats to know the laws of different countries so it is always advisable to make different wills as per different countries.

Can the language of the will be changed as per requirement? Also, can the will be opened in the presence of the owner of the will? MM: When you are drafting a will in the UAE, it has to be bilingual, in Arabic and in English. When drafting a will, it is always advisable to share the copy of the will with your partner and make them understand it. After the person’s death the will can be still opened and translated into any language as per their convenience but cannot be changed. The will is usually opened in front of beneficiaries and shared with them in order to avoid disinheritment and legal complications in future.

What does Joint Ownership of Property mean? How does the will function in this context? MM: Joint Ownership of Property

is where wife and husband hold the property together. So in this case we need two wills. One for husband and one for the wife. If there are many holders to a single property, you should have separate wills for each one of them. There is no joint will concept.

31 www.intelligentsme.com

Emirates Chartered Accountants Group, is ISO 9001 – 2008, a certified International firm of Chartered Accountants headquartered at Dubai, U. A. E. We are a member of IEC- Net, an International network of Auditors, Accountants and Tax professionals with its head quarters in Paris. Emirates Chartered Accountants Group is known for its excellence in client service, quality, professional integrity, accountability, innovation and best practices.

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December'15 - January '16

Intelligent SME

Leadership

Five best practices for identifying effective leadership Model the way

Inspire a shared vision

Challenge the process

Enable others to act

Encourage the heart A recent survey of expats named Dubai one of the best places in the world to start a business, a positive indicator for the UAE as it pushes towards its Vision 2021 initiative to be one of the best places in the world for entrepreneurship. For those starting a business, how can they ensure that theyâ&#x20AC;&#x2122;re on track for success? The key, says Jim Kouzes, is great leadership. 33 www.intelligentsme.com

December'15 - January '16

Intelligent SME

Leadership

reat leadership creates great workplaces. In our research we found that leadership contributes more to positive outcomes than any other single factor. Great products, great strategy, great people are absolutely critical but with poor leadership they produce only a third to a half of their potential. So, entrepreneurs and SMEs striving for great results in their marketplaces should start by investing in the development of exemplary leadership skills.

Identifying the practices of great leadership When Barry Posner and I began

our leadership research over thirty years ago, we had a simple question: What do leaders do when they are operating at their personal best? We wanted to know how they made extraordinary things happen. To uncover these practices we asked people to recall a time when they set an individual leadership standard of excellence, present or past, and then we asked them to tell us what they did during those peak performances. We asked about the context, their intentions, their specific actions, the people involved, lessons learned, and other aspects of their personal-best cases. We gathered stories from leaders at all levels in the public sector and education, profitbased firms and non-profits, agriculture and high technology, manufacturing and utilities, banking and healthcare, natural resources and retailing, and the arts and community service. The leaders were employees and volunteers, young and old, women and men from over seventy different countries representing many different ethnic, religious and cultural backgrounds. After analyzing thousands of these leadership experiences, we discovered—and we continue to find—that regardless of the times or the settings, people who guided others along pioneering journeys followed surprisingly similar paths. Though each personalbest experience was unique in its individual expression, there were

34 www.intelligentsme.com

clearly identifiable behaviors and actions that were consistent across the vast majority of cases.

The Five Practices of Exemplary Leadership®

We found that when making extraordinary things happen in organizations, leaders engaged in what we call The Five Practices of Exemplary Leadership®. When performing at their best leaders:

• • • • •

Model the Way Inspire a Shared Vision Challenge the Process Enable Others to Act Encourage the Heart

These practices are not the private property of only the people we studied. Nor do they belong to a few select shining stars. The Five Practices are available to anyone who accepts the leadership challenge. Our message is similar to the message of HH Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, and Prime Minister and Vice President of the UAE. In 2013 he wrote, “Anyone who can improve the life of those around him is a leader. Anyone who can serve people and make them happy is a leader. A leader is also a person capable of creating positive change, whether at work or at home and of innovating and creating even the simplest of things. All people are born with the seeds of such qualities which they can nurture and grow, so that, bit by bit, they advance on the path to leadership and ultimately evolve into great leaders.”

Meeting the challenge

For businesses today, whether you are an eighty-year-old corporate icon, or a high-tech start-up, nothing is certain. There is no doubt about it; we live in challenging times. Yet, as surprising as it may sound, in these difficult times we’re likely to see some of the most extraordinary leadership we’ve seen in decades. That’s because leaders don’t do their best when they’re maintaining the status quo or when they feel comfortable.

A leader is a person capable of creating positive change, whether at work or at home and of innovating and creating even the simplest of things. They do their best when faced with adversity, crisis, and difficulty. Whether that involves developing innovative new services or starting a new agency or business, challenge is the opportunity for greatness. Here in the Gulf, it is widely recognized that exemplary leadership is the key to outstanding organizational success. Wise leaders know that they need to invest in learning the behaviors that will enable them to become the very best they can be—and to develop those same competencies in others. Entrepreneurs ready to make that investment will launch their startups on a path to long term success.

Jim Kouzes is the Dean’s Executive Fellow of Leadership at Santa Clara University and has co-authored over 30 extensivelyresearched books and training materials, including the awardwinning The Leadership Challenge.

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December'15 - January '16

Intelligent SME

Service in the Digital Age

Customer service amplifies brand values on social media

In todayâ&#x20AC;&#x2122;s referral dominated consumerist world, it is an established fact that customer service is at the heart of business growth. Social media is now a part of life and is central to brand value creation

36 www.intelligentsme.com

December'15 - January '16

Intelligent SME

Service in the Digital Age

n a recent trip to Rome I experienced rather poor service at a restaurant near a well-known tourist destination. I could not help thinking why the owners of this establishment would allow poor customer service to go unchecked. Was it the fact that they were hoping their location would ensure a continuous supply of future customers? Or did the restaurant owners simply not care about customer service assuming that as tourists there would be little likelihood of repeat business. What was more surprising is that the restaurant owners were totally oblivious to the fact that with instant internet connectivity, customers could share their experiences on the various social media platforms with future customers. Various surveys and academic studies have consistently shown that there has been a rapid increase in the number of complaints posted on social media websites. Interestingly, one UK survey showed that a quarter of all users of social media had posted negative comments regarding their experiences. At the same time these surveys show that the bulk of new customers are influenced to carry out a purchase based on reviews on social media platforms. In today’s referral dominated consumption world, the established fact is that customer service is extremely important for all businesses and it either makes or breaks a business. Therefore, it’s important that excellent customer service is at the heart of every business, large or small. Customer service starts with knowing what customers need and want and extends to delivering a complete positive experience for potential and existing customers which includes treating them with respect and care regardless of the amount or frequency of their spend. Companies need to follow up on a purchase and obtain feedback so that they can understand the customer and continuously exceed the expectations. Companies need to ensure that they are going the full mile to help their customers. If and when things go wrong, which happens from time to time, it’s important for a company to

Social media is now part of life and companies should not view it negatively but instead harness its power to improve customer loyalty and sales. handle the situation efficiently and gracefully. Of course, customer service is not free and incurs costs and resources. But the returns are high and include the ability to increase customer loyalty. This in turn leads to greater spending and research shows that customer’s purchases increase after a good experience. At the same time customers stop buying after a bad customer service interaction. Excellent customer service also increases the frequency of customer spending as well as generating further business through traditional word of mouth as well as positive reviews on social media. Also, excellent customer service removes the barriers to buying because the customer can exchange the product or obtain a refund. Social media is now part of life and companies should not view it negatively but instead harness its power to improve customer loyalty and sales. First, companies need to constantly monitor social media platforms to understand what their customers are saying about their experiences both positive as well as negative. In case of the latter, companies need to make sure that they effectively deal with negative complaints and respond in a polite manner while resolving issues. Far too often, companies respond to negative reviews defensively

rather than in a spirit of resolving the complaint. Also, a response to a complaint on a social media platform is there for all to see. This implies that any response has to be well thought out while remembering that a social media response needs to be faster than a traditional response. Therefore, it’s important to ensure that staff responding to social media postings are trained and very customer centric. Remember, every negative situation well-handled can actually have a positive impact to the company. Perhaps a more successful strategy is to provide customers who have received poor service an alternate channel to complain privately and away from mainstream social media platforms, such as through online complaints systems and emails. If customers know that a company responds quickly and effectively via traditional channels such as emails, phone calls etc. then they are more likely to use them. The starting point for any company has to be to deliver excellent customer service which will ensure that it has a positive impact on the brand and of course on the business. However, when thing do go wrong, the company needs to ensure that customers are assured that they will receive a fast and effective response via traditional channels. In the event that a company has negative postings on social media platforms, it needs to have a social media strategy that goes beyond simply responding with a defence.

Dr. Ashraf Mahate has actively been involved in researching and providing consultancy in the areas of entrepreneurship, trade, economics, banking, and finance for over 25 years in the UAE and previously in the UK. Currently he is the Head of Export Market Intelligence at Dubai Exports which is an agency of the Dubai Economic Department. 37 www.intelligentsme.com

December'15 - January '16

Intelligent SME

New Finance

P2P Lending: A new age of SME finance Peer-to-peer (P2P) finance is built on the ‘power of the crowd,’ a principle of raising finance from a number of people who pool their resources together. Craig Moore explains a ready and alternative source of SME finance.

he past few years have seen a surge in research, organizations and events dedicated to the small to medium sized enterprise (SME) space and the essential roles SMEs play in a nation’s economic fabric. The part SMEs play in advancing innovation, growth and prosperity has rallied stakeholders and raised awareness of the importance of the sector, but more than anything, this newfound interest in SMEs has highlighted the significant challenges they face. Chief among those challenges remains access to capital. In the UAE and the wider Middle East region, many small businesses are simply unable to access favourable financing terms or secure reasonable credit terms in a timely manner. The difficulty in applying for financing from banks, their fees and the rates they charge all make traditional financing prohibitive for most small businesses. This severely impedes SMEs’ ability to grow, expand and reach their potential, with negative consequences for economic growth, innovation, and macroeconomic robustness. With banks and other conventional lenders reluctant to take chances on small-business loans, numerous reports have highlighted the fact that this gap is largely the result of a mismatch between the needs of small

38 www.intelligentsme.com

December'15 - January '16

Intelligent SME

New Finance

businesses and the supply of financial services, which are easily accessed by larger firms. This is even more pronounced in emerging markets. Dubai has a healthy SME sector accounting for around 40% of GDP, over 42% of the total workforce and 95% of businesses operating in the emirate, according to the UAE Department of Economic Development. Yet while they form the backbone of the economy, SMEs still suffer from a lack of funding options that give them the credit they need with suitable terms. This is supported by the International Finance Corporation’s (IFC) estimate that the current SME funding gap in the MENA region is valued at around USD$260 billion. This massive credit gap is driving a critical need for alternative finance solutions to fuel growth in this critically underserved sector of the economy.

How does peer to peer finance work?

Peer to peer finance

The Peer-to-Peer (P2P) finance model was first launched 10 years ago through companies like Zopa, Prosper and Lending Club in the UK and US. With the explosive rise of these companies and rapid development of the model in more advanced markets, peer to peer-to-peer finance has received increasingly greater traction in the media and with the public. Peer-to-peer (P2P) finance is built on the ‘power of the crowd,’ on the principle of raising finance from a number of people who pool their resources together. Individual or small investors place relatively small investments in businesses, allowing them to gain higher returns and diversify holding. In exchange, SMEs get a lower cost and ready source of financing. It is little surprise that businesses looking for lower cost finance and investors seeking higher and more reliable returns are embracing P2P finance. The central enabler of the model is its use of the internet to reach hundreds or even thousands of potential investors who can invest relatively small amounts of money to finance businesses in return for monthly interest instalments. The network effect and technology efficiencies of P2P platforms significantly reduce transaction costs versus bricks-and-mortar counterparts, enabling them to provide a source of finance for smaller businesses looking for small sums. On the Beehive platform, for example, the fact that individual investors can bid and compete to finance loan requests through an auction process means the SME will garner the lowest average rate. In the end, the allure of P2P Finance is its speed and its ability to cut costs for borrowers, while promising higher returns for investors.

The evolving P2P finance landscape

P2P finance has grown exponentially since the advent of the industry; there are a wide number of peer-to-peer finance providers, also known as ‘marketplace lenders’, offering a variety of services

39 www.intelligentsme.com

December'15 - January '16

Intelligent SME

New Finance

targeted at small businesses and individuals across the globe. P2P finance continues on a steep growth trajectory; finance originating from the industry reached $US 12 billion in the US alone last year. The most recent estimates project a 40 per cent year-on-year growth for the relatively young industry over the coming decade. Forecasts for the global P2P industry vary widely, from accounting firm PwC’s estimate of US$ 150 billion by 2025, to Morgan Stanley’s estimate of between US$ 150 billion and US$ 490 billion by 2020, to venture capitalist Charles Moldow’s more buoyant prediction of US$ 1 trillion over the same period. But even the lower end of the estimate range represents a compound rate of nearly 40 per cent annually over the next decade, signifying an undeniably noteworthy upward trend.

Sales l Leasing l Management

P2P finance companies originated around US$ 9 billion of loans globally last year, and are expected to finance up to US$ 1 trillion within a next decade.

Why is P2P finance a viable solution for SMEs?

P2P finance is highly attractive for businesses looking for lower cost finance than they can secure through a bank, as well as for investors who want higher-thanmarket, steady returns. Additional factors adding to the model’s appeal include the ability to make a financing request quickly, plus its ease-of-use and transparency, especially when compared to traditional sources of finance. This approach, supported by a robust risk assessment model, means businesses end up getting faster access to lower-cost, debtbased finance and investors get better returns on their money

while diversifying their risk. Furthermore, most P2P platforms do not charge SMEs a penalty for early repayments. The financial route a business opts for can provide a considerable competitive edge in terms of ability to make progress and to take a company to the next level. Access to affordable funding can make the difference between expansion and bankruptcy for a business, particularly in its first few years. A large portion of SME failures, across sectors, arise from the inability to access the finance they need at reasonable terms. The UAE with its significant funding gaps is a ripe environment for Peer-to-Peer (P2P) finance to emerge as a viable alternative. The model has rapidly gained popularity due to the attractive cost, accessibility and flexibility it offers. Borrowing from tried and tested concepts in crowdfunding, P2P finance is a simple, novel

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December'15 - January '16

Intelligent SME

New Finance

way of raising money using the internet’s network-effect to get a large number of people contributing a small amount of money individually.

Accessing P2P finance in the UAE

In November 2014, Beehive was launched as the first peerto-peer financing platform in the UAE, authorised and licenced by the DMCC, with a vision to transform the local SME finance market and increase the options that SMEs have to obtain finance. With an operational structure modelled on global best practice and robust investor protections in place, Beehive’s focus is to serve established credit-worthy SMEs looking to finance working capital for expansion and growth. Through the use of innovative technology, Beehive set out to create a marketplace that directly connects established businesses

with smart investors so that SMEs get faster access to lower cost finance and investors get better returns. Businesses seeking investment starting from AED 100,000 gain access to individual investors who bid to provide the financing, choosing how much they will finance and at which rate. The SMEs receive funding typically in 14 days, and investors receive monthly repayments at target rates of between 8 per cent and 20 per cent.

to success lies in the prudent implementation of a strategy that best suits the unique needs of your business.

Building a comprehensive finance strategy

While P2P finance has its fair share of benefits, the reality is that using a combination of various techniques will yield the best results and give you a comprehensive advantage. So, don’t be afraid to complement P2P finance with more traditional sources of finance. The key

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December'15 - January '16

Intelligent SME

Marketing

Embracing the choices we make A recipe for success? You can make a success of any choice but it requires complete commitment to that choice and pursuing it with love, passion and determination says Akram Miknas.

42 www.intelligentsme.com

December'15 - January '16

Intelligent SME

university professor once told me that life is a series of intersections, any of which we can decide to take. However, the majority of people never take these decisions in the first place. They continue going round and round on the roundabout of everyday life, not knowing which course to follow with their lives – and perhaps not giving it too much thought. I’m sometimes asked what I believe it takes to make a success of one’s life. There is one thing I can honestly say that the people who I admire most have in common. Those people who make a success of their lives are the ones who take a decision about the course they want to follow – and pursue it relentlessly, whatever the obstacles and opposition. We often find ourselves caught between two or more choices: “Do I pursue an arts, or a sciences degree?” “Do I stay in my home country, or pursue better opportunities abroad?” “Should I give greater priority to my career, or to my personal life?” These are all life-changing decisions – but allow me to propose that it is less important which of these choices you make. What really matters is the tenacity and resilience to embrace the choice you make and pursue it with total determination and dedication. We cannot simultaneously choose to walk two paths, yet many people make a half-hearted effort to do so; walking one path, while wishing that they were elsewhere. However, there is no better way of wasting your life than by telling yourself: “I could have been a success, if only I made the right choice of university or career… or if I had waited a few more years before getting married and having children…” You can make a success of any choice you take, but it requires committing to that choice and pursuing it with love, passion and total determination. A friend once asked me how to make a difficult decision and I flippantly told them: “Throw a

dice.” I was only half joking. The ability to make a success of your choices is less about the actual choices you make, and more how you embrace the decision you take and follow it through to the finish. In practice, the ability to make effective decisions is based on a clear idea, in advance, about what we want out of life. As a result, when we reach a crossroads, the decision of which path to take is effectively chosen in advance – we take the shortest and most direct route to the destination we have set our hearts on. Whatever decision we make, we end up facing apparently insurmountable obstacles. Often our attempts end up in failure. At this point, a large proportion of people tell themselves what they learned from this failure was that they made the wrong decision; they took up a challenge that was too difficult – or, they were simply unlucky. Yet, a small proportion of people stand up after facing failure and defeat, dust themselves off, put themselves back together – and keep on moving forward. I identify this strength of character; this stubbornness in the face of apparently insurmountable obstacles as being that elusive quality of “genius” which marks out a tiny percentage of people for greatness. I refuse to believe that there are some of us who are born with genes which make them great. I have yet to meet someone who earned the title of being a “natural genius”. Most exceptional sportspeople, scientists, philosophers and political figures got where they are through an extraordinary amount of effort. For the real heroes in our world, achievement is never easy and success is the result of thousands of hours of thankless training and mental efforts; enduring pain, setbacks and frustration. Albert Einstein is the stereotypical genius of the last century. Yet he said of his own abilities “It’s not that I’m smart. It’s just that I stay with problems longer.” I believe there is a

big difference between being good and being great. A good violinist is somebody who has studied the violin for many years, has followed the instructions of their teachers carefully and has carefully studied the techniques of other violinists, in order to master their instrument according to the standards of the day. The great violinist is someone who tears up the rulebook, goes against all established techniques and spends years relentlessly and obsessively pursuing their own path – and in the process creates something extraordinary that the world has never heard before. True greatness means totally redefining the rulebook and forging an entirely new path that the rest of the world can only hope to follow. Not everybody can aspire to greatness or the mantle of genius. But the lesson we can take away is the value of single-minded consistency in pursuing the path which you have chosen to follow; and refusal to give up when the path ahead seems difficult or impossible. I am not claiming that everybody who pursues their goal with total determination will succeed. Rather, I would turn that assertion on its head and say that the true strength of character required to achieve greatness is the resilience to pursue your goals without any guarantee of success, or any foreknowledge of your own capacity to realize your aspirations: Greatness is the strength of character to stare defeat in the face and keep on smiling.

Natural Genius

Marketing

Akram Miknas is one of the pillars of modern marketing communications in the Middle East. He has just been recognized as No. 3 in the Middle East’s 50 Most Powerful People in Media, Marketing and Advertising. 43 www.intelligentsme.com

December'15 - January '16

Intelligent SME

SME Growth

Horizon 2020

The champions league for small, innovative European companies Horizon 2020, a specific instrument for small and medium sized enterprises, aims to identity small companies with high innovation and strong growth potential. 44 www.intelligentsme.com

December'15 - January '16

Intelligent SME

SME Growth

urope is a vibrant continent for technological innovation and knowledge creation but commercialisation of knowledge here is lower than in other parts of the world. Although Europe has a high number of start-ups and small companies, a fullyfunctioning risk capital market is still lacking and these firms have difficulties finding necessary funds to engage in new markets or to disrupt existing ones. Therefore these companies cannot grow and prosper to their full potential. It was with this background that Horizon 2020, a specific instrument for small and medium sized enterprises within the European Research and innovation Framework Programme, was created in 2014. The Instrument has a budget of around €3 billion in grants until the year 2020. It aims to identity small companies with high innovation and strong growth potential. Funding is provided after the initial start-up or seed phase, often referred to as the "Series A" round. Inspired by the US Small Business Innovation and Research Programme (SBIR), the instrument consists of three phases. The first phase provides the company with a small grant of €50,000 to identify detailed market conditions and risks, to study customer trends or ensure the availability of the necessary intellectual property in order to pursue market opportunity. The subsequent second phase provides a grant of €1 to 4 million to roll out growth and market strategy. Providing fresh funds to companies is important for them to overcome the so-called "death valley." However, recent studies of successful innovation environments have shown that the provision of soft services, in addition to finance, helps

Horizon 2020 aims to attract private investments, to foster links between funded companies and corporates or public procurement entities.

considerably in realising the companies' growth strategies. This is what Phase 3 is all about. The supported companies receive business coaching helping them strategically develop and position the company. The instrument also aims to attract private investments, to foster links between funded companies and corporates or public procurement entities and supports attending trade fairs and oversea trade missions. One of the supported enterprises is Watly.co with facilities located in Spain and Italy. The company is pioneering ways to provide solutions to fundamental and global human needs - access to clean water and sanitation, free-energy and connectivity. It creates technological solutions powered by clean and renewable energies that respect the Earth’s ecosystem. Through innovative design and an unconventional engineering approach, it builds upon advanced and beautifully designed solar water purifiers and micro-power stations in the world. After a successful Phase 1, the Phase 2 grant has helped the company gain credibility and exposure. It is about to launch a massive crowdfunding campaign on the Indiegogo.com platform and is negotiating with potential VC investors to raise €10 million. It is looking to launch a unique line of product for the UAE and Qatar markets. Watly.co is one of over 200 European small companies supported by the instrument since April 2014. A very competitive scheme, it ensures that less than 1 in 10 companies applying have a chance of support after a thorough technological and commercial scrutiny. We have good reason to believe that the supported companies will grow and progress and become true European champions.

Bernd Reichert, Executive Agency for Small and Medium Sized Companies Brussels, Belgium. 45 www.intelligentsme.com

December'15 - January '16

Intelligent SME

Property Value Chain

How building material prices influence property value

uilding materials are one of the main direct cost components of any project and any fluctuation will affect the building cost of the projects. Building materials represent about 40-50 per cent of the overall construction of a project, depending on its nature, usage and size. While one has to source the best quality materials from the market, one has to also look at the best prices. The value of GCC projects bounced back in 2013 from a four year slump reaching US$156.3 billion, up by roughly 31 per cent year-on-year, according to reports. Construction, primarily comprised of commercial, residential and mixed use buildings, accounting for 41.4 per cent of total projects, reached almost US$65 billion of awards in 2013.

December'15 - January '16

Intelligent SME

Property Value Chain

The construction sector is the fifth largest sector in Dubai’s economy, recording a share of 8.4 per cent of total GDP in Q1 2014, up by 20.2 per cent quarter-onquarter and 2.3 per cent year-onyear, according to a latest report by Dubai Chamber. We expect construction growth to have accelerated during the course of 2014 as new projects broke ground. Total trade in construction materials reached Dh19.4 billion in Q1 2014, up by 5.4 per cent yearon-year, accounting for almost 6 per cent of Dubai’s non-oil trade. Dubai’s construction trade should be further boosted as Dubai’s foreign trade is expected to reach Dh4 trillion as we approach 2020 from Dh1.3 trillion in 2013. The cost of Dubai’s major construction materials groups rose marginally to 97.2 points in Q2 2014, according to the Dubai Chamber of Commerce and Industry (DCCI). Dubai’s rapid construction growth could push prices for construction materials and labor higher over the next few years. Dubai’s rapid construction growth could push prices for construction materials and labor higher over the coming years. Of the 16 major construction materials groups, 6 groups showed price increases, 8 posted price decreases and the remaining 2 exhibited relative price stability. The biggest price increase was noted for the group of marble and stones for a fourth consecutive quarter, up by 17.6 per cent yearon-year in Q2 2014, probably reflecting the overall expansion of Dubai’s luxury construction sub- sectors. It is therefore, very important to buy the right building materials at the right price. The initial economic cost of building materials lies in the purchase price. This is what often governs decision making about what materials to use in construction. When it comes to materials trading, a trader makes money both ways – while buying and during selling. Similarly, a contractor could gain financially by squeezing the supplier on pricing. If he could get them cheap from the building materials supplier, he could make extra money from the

When it comes to materials trading, a trader makes money both ways – while buying and during selling. Similarly, a contractor could gain financially by squeezing the supplier on pricing. overall construction project. That’s why contractors spend a lot of time and resources in sourcing quality building materials from larger players who could give them the best price. Sometimes people take into consideration the energy savings or durability of the materials and see the value of paying a higher initial cost in return for a lower lifetime cost. For example, an asphalt shingle roof costs less than a metal roof to install, but the metal roof will last longer so the lifetime cost is less per year. Risks when considering lifetime cost of a material is if the building is damaged by fire or wind, or if the material is not as durable as advertised. The cost of materials should be taken into consideration to bear the risk to buy combustive materials to enlarge the lifetime. It is said that 'if it must be done, it

must be done well'. In terms of logistics, it is also important that the materials are supplied well in time for the contractor to utilise them. If materials arrive late – while workers wait – contractors have to count additional costs for lost time. Therefore, the professionalism and integrity of the building materials supplier is very important in the overall construction supply chain management. The big contractors have established supplier database and existing relationships with major building materials suppliers. In order to keep the cost under control, larger contractors usually source major items – such as cement and steel re-bars from the manufacturers directly at the factory price. This way, they cut the middlemen – such as the traders and the wholesalers. This way, they also guard their

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Intelligent SME

Property Value Chain

businesses from potential price fluctuation in the international markets. Some are also involved in materials price hedging – fixing price at a certain level for a certain period to offset potential losses in case price increases. In any case, price fluctuation affects the cost of construction. To put it in a layman’s term – if building materials price increases by 10 per cent – it wipes out a contractor’s profit, who might be constructing a project with just 5 per cent profit margin. Building materials price appreciation during a project execution could be a contractor’s worst nightmare. He needs to safeguard himself against such inflationary pressures. Sometimes contractors make provisions of revising the contract value based on the construction materials price fluctuations. However, in most cases, they take into account the building materials

price increase in their bid or quote amount – to guard themselves from potential inflationary pressure. The building materials prices over the last six months have remained more or less steady with very minor fluctuations. Due to reduced demand during the Ramadhan and the festivities and summer holidays etc, the demand in general was less so there was indeed a little drop in prices of certain items. But increase in freight rates countered/ offset this. Due to very low global demand and excessive supplies, steel prices in China fell steeply. However, due to shortages in raw materials wood based items prices remained constant. As all holidays are over, traditionally, the next six months will be very active for the construction sector in the entire region. All the buyers are back to their regular buying. This has already started putting lot of pressure

on the prices and the expected increase in shipping cost, means that the prices in the coming days will increase considerably.

Rizwan Sajan is Founder & Chairman of Danube Group. The Danube Group was founded by Rizwan Sajan in 1993. Over the last 22 years, the group has come a long way since its humble beginnings of a small trading shop in Deira to being the region’s leader in construction, building materials, home interiors and shop fitting industries.

Finesse wins Global Enterprise Connect Awards - 2015 ‘ Business Intelligence Specialisation SI of the Year ’

December'15 - January '16

Intelligent SME

Risk Management

Tapping opportunities within SME suppliers of Government The UAE Government has instituted several initiatives such as the ‘Government Procurement Program’ or ‘Credit Guarantee Program’ to drive development of the SME segment. But are commercial banks aligned to support them? Karthik Kapasi, Senior Engagement Manager at Cedar Management Consulting highlights the risk principles that determine SME credit worthiness.

t’s a well-known fact that only 5% of total advances are being lent to the SME segment in UAE versus 15% in more developed nations, and this is primarily because of the risk perception and challenges that the banks are going through in the region. Having worked and interacted with most of the leading banks in the region across SME and mid-market segments, it’s very evident that most banks are being extremely cautious and selective towards lending to SMEs under the current volatile market scenario. And one common theme that we come across these banks is the level of comfort they draw while lending to SMEs supplying to Government agencies. However, the opportunities have not been explored enough due to a cautious mind-set of bankers with which the SMEs are being perceived these days. There are 4 key risks principles that determine the credit worthiness of a SME customer. Let’s look at how these risks are typically addressed by banks while lending to SMEs associated with Government agencies.

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Risk Management

1. Industry Risk

Most banks would have an Industry strategy which would lay out guidelines for lending covering key sectors where they should focus and the high-risk sectors where lending should be restricted. However, most of them do not take into consideration the industries where Government are highly participative in terms of the SME supply chain. While there are 300 SMEs across 12 sectors and 57 industries; there are at least 18 industries involved in supplying to Government agencies. And, clearly there are at least a dozen of them having a high-concentration of SMEs and a positive or stable industry outlook. There’s a significant opportunity for banks to collaborate with Government and have a specialized value proposition and focused lending strategy for all such SMEs participating in Government supply chain.

2. Management Risk

One of the key challenges most banks typically face with SMEs is to assess the quality of their management teams. SME financing is similar to private equity, and hence the RM should be trained to assess the quality of promoter and his ability to repay. However, the due diligence performed by the banks is mostly considered to be inadequate due to quality or nonavailability of information. Since government vendors and suppliers have to go through a rigorous duediligence process to participate in the supply chain; banks can draw significant comfort to lend to SMEs supplying to Government agencies.

One of the key challenges most banks typically face with SMEs is to assess the quality of their management teams. 3. Quality of Underwriting and Credit Framework

It’s critical to have a comprehensive underwriting framework aligned to overall credit policy for the SME segment and even while lending to SME suppliers of Government there should be no short-cuts taken for assessment of credit risk. However; what’s more critical is to have a rigorous monitoring framework to manage all exceptions and also identify the early warning triggers leading to credit default.

4. Level of Collateral and Security

More often than not, you’ll find banks having high loss rates in the SME segment due to lack of adequate collateral or security coverage. However, in case of a SME supplier of Government the banks can consider products with relatively lower risk such as invoice discounting, receivable financing, supply chain financing or equipment financing which are

adequately backed by government receivables for assignment to bank. It’s also critical for banks to assess the end-to-end supply chain of all the federal entities to identify potential opportunities. There are a few ministries which would deal with specific industries for products and services aligned to their strategic objectives. For example Ministry of Health would be dealing with Healthcare Products and Equipment suppliers, Pharmaceuticals, Hospitals, Clinics, Laboratories, Engineering and Contracting firms for construction of medical facilities. Similarly, there are a few industries which are critical to functioning of all federal entities such as Business and Professional Services, Property and Facility Services, ICT and Financial Services. To conclude, if one has to map-out the industry value-chain across all federal entities covering the 11 federal ministries, 19 federal authorities and 25 federal institutions and profile the SMEs participating in their supply-chain across its size and scale, geography, sector/industry traits, financing needs and key risk indicators; there is a significant opportunity for banks to leverage and have a value proposition developed for this segment and play a significant role in supporting the Government in promoting sustainable economic development.

Karthik Kapasi is Senior Engagement Manager at Cedar Management Consulting International LLC. Karthik has over 10 years of strategy & transformation experience and has worked on several engagements in the areas of SME/Business Banking covering industry research, products, credit, risk & process. He can be reached at Karthik. kapasi@cedar-consulting.com 51 www.intelligentsme.com

S U C C E S S I S A D E S T I N AT I O N

H AV E YO U A R R I V E D ?

WATCHES YACHTS DESIGNER JEWELLERY BOUTIQUE REAL ESTATE GADGETS EXOTIC DESTINATIONS FINE DINING

December'15 - January '16

Intelligent SME

Rare & Fabulous

LOVE YOUR CHOICE WITH LA MARQUISE ‘BRIDAL COLLECTION’

he wedding industry has woken up to debut of La Marquise’s new fashion forward ‘Bridal Collection’. This year, we have seen diamond encrusted necklaces adorn the runways at Milan Fashion Week 2015 and the return of the chic chandelier earrings; but nothing quite compares to the sparkling bridal sets La Marquise has so carefully orchestrated. From the Hollywood classic Elizabeth Taylor to the modern royal beauty Kate Middleton, these women knew the power of accessorising with staple bridal pieces. But why struggle to bring them all together when La Marquise’s bespoke bridal sets – each unique in design and each piece one of a kind – are already a match made in heaven. Clean lines and brilliant shine unite in this season’s most arresting jewellery collection using the highest craftsmanship this region has seen and the finest stones. Be it Princess, Matinee or Opera; a harmonious pairing of necklace and earrings, or the complete set of four including a bracelet and statement ring; these experts never take ‘no’ for an answer when it comes to shaping a dream into a reality. La Marquise’s innovative Bridal Concierge caters to a bride’s every want and need (and budget!) to ensure you look ravishing and radiant on the special day. A traditional wedding dress is said to be well accented with touches of colour; La Marquise’s bridal sets of deep cobalt sapphires, verdant emeralds, and canary diamonds sparkle sensationally beneath the flashbulbs whilst giving the bride a delicate dash of colour.

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Rare & Fabulous

BENTLEY MOTORS UNVEILS THE BENTAYGA M otors showed its pinnacle, sector-defining Bentayga SUV at the 66th IAA in Frankfurt.

• Bentley unveils the Bentayga: the most powerful, most luxurious, most exclusive and fastest SUV in the world‎ • Bentayga combines unparalleled luxury with sporting ability, offroad performance and everyday usability • Designed, engineered and built in Crewe, UK, this sector-

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defining SUV takes Bentley luxury to new placesluxury to new places The Bentley Bentayga combines unparalleled luxury with effortless performance and everyday usability. With an all-new twinturbocharged 6.0-litre W12 powertrain, the Bentayga is the fastest, most powerful, most luxurious and most exclusive SUV in the world. It offers a true Bentley driving experience and showcases a range of innovative technology features.

Its modern luxury interior is handcrafted in Britain; the Bentayga boasts the world’s finest automotive cabin, with unrivalled levels of precision. The detailing in metal, wood and leather – including meticulous tolerances between elements of trim – sets a new standard in automotive design. This level of perfection is only achievable thanks to the exceptional skill of Bentley’s colleagues in Crewe. Wolfgang Dürheimer, chairman and chief executive of Bentley Motors, comments: “The Bentayga is truly the Bentley of SUVs. It redefines luxury in the SUV sector and offers a genuine Bentley experience in any environment, thanks to a combination of unparalleled attention to detail, goanywhere ability and cutting-edge technology. With this extraordinary car we are looking forward to an exciting period of strong growth and sales success for Bentley. The Bentayga is the next step in our brand’s bold future.”

December'15 - January '16

Intelligent SME

Rare & Fabulous

AUTUMN WINTER 2015 COLLECTION IN DUBAI BY RITU KUMAR

itu Kumar's all new collection for 2015 autumn winter season has just arrived at the brand's flagship store in BurJuman Shopping Centre in Dubai. Catering to the contemporary women of today, the collection comprises of varied comfortable yet chic styles for day and evening wear, ranging from kurtis, skirts, suits and short jackets. The range is available in vibrant shades of emeralds, oranges, deep reds, peppy yellows, black, royal blue etc. Using elegant fabrics such as jersey, crepe, cotton, georgette, the outfits draw inspiration from the rich cultural heritage of India. The unique blend of signature Ritu Kumar prints with subtle detailing and silhouettes results in an array of beautiful creations. The Ritu Kumar boutique at BurJuman Shopping Centre in Dubai is stocked with all three lines from the brand namely Ri Ritu Kumar (Indian festive and occasion wear), Ritu Kumar (Classic ethnic wear) and Label Ritu Kumar (Global contemporary fashion clothing).

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Rare & Fabulous

PORSCHE CAYMAN BLACK EDITION: EXCLUSIVE SPORTS CAR SPECIAL EDITION WITH EXPANDED EQUIPMENT N ew special edition in elegant black The all-in-black special series previously comprised the Boxster and the 911 Carrera with rear-wheel and all-wheel drive as both a coupĂŠ and a cabriolet, distinguished by their expanded standard equipment. The combination of black paintwork and a black partial leather interior emphasises the timeless and sporty elegance of the sports cars. The standard equipment of the Black Edition models includes Porsche Communication Management (PCM) with navigation module, automatic anti-dazzle mirrors, rain sensor, cruise control, parking assistant at the front and rear and the Sport Design steering wheel. The Cayman Black Edition is based on the mid-engine coupĂŠ with a 2.7 litre flat engine and 275 hp (202 kW). The 20-inch Carrera Classic wheels, bi-xenon headlights with PDLS (Porsche Dynamic Light System) and optional side window trims in aluminium are eyecatching highlights. For enhanced personal comfort, the driver and passenger can avail of two-zone climate control and heated seats. The Cayman Black Edition comes with the high-quality audio system Sound Package Plus. The Cayman Black Edition is available for order now, with the first vehicles arriving January 2016.

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Rare & Fabulous

TRAVEL DOWN MEMORY LANE WITH REMINISCENCE BY LOOTAH PERFUMES •

Lootah Perfumes unveils its everlasting fragrance, Reminiscence • An oriental perfume of with spicy, wooden undertones, Lootah’s newest perfumes offer a mist of dreamy decadence to the wearer, for him and her. • This perfume is available at Lootah stores in Jumeirah centre Burjuman, Al Etihad Mall al khawaneej, Al Salam stores- Wafi Mall, Abu Dhabi Mall and Al Ain Mall. Lootah Perfumes, a luxurious perfumery with oriental and Arabic scents famous for its pure Ouds, presents its vivid new Eau de Parfum, Reminiscence. The perfume is an oriental scent with a woody, spicy appeal available both for him and for her. Available in beautiful calligraphic packaging and a sensual, frosted bottle inlaid with gold accents, Reminiscence is an ode to the elaborate and fond journey down the labyrinth of time when life was a beautiful adventure. An intense fragrance that inspires strong emotions, Reminiscence is a tale woven into an Eau de Parfum.

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Strategic SME Partner

Strategic Alliance Partner

Sole Automotive Partner

Coporate Banking Partner

15th March 2016, Conference Centre, Atlantis The Palm, Dubai www.smeworld.ae

Exhibit at the Largest Entrepreneurship Conference

For details email us at response@spiholding.net or call on 0527911142

Who can exhibit?

. SME service providers . IT companies . Manufacturing SMEs . SME consultants

EVENT ATTRACTIONS

Why exhibit?

. C-3000+ high profile attendees includes business leaders, level Excecutives & Govt. dignitaries. . Perfect opportunity to showcase your products & services. . Leveraged lead generation & business development. . Plug & play - readymade 3x3 sq. mtr pre - built booths .

with table, chair & wifi. 5 star luxury venue. Organised by

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