Intelligent SME 1ssue 28

Issue: 28 │October - November 2015 Strategic SME Partner

15 Mona Ataya

Mompreneur Extraordinaire!

22

24

Etisalat and Intel empower SMBs with latest enterprise technology solutions Strategic Alliance Partner

SMEs drive the UAE Auto industry Corporate Banking 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

October - November 2015

28 Emirates Money innovates in

commercial vehicle finance

Easy access to customers at its branches or via the vehicle/equipment dealer and financing of up to AED 7 million provided at competitive interest rates, this is how Emirates Money enables entrepreneurs to streamline their day-to-day finances and manage cash flows more efficiently.

30 Revamping retail in the

digital era

The digital era is disrupting consumer goods and retail industry. Today the retail industry and its suppliers are nearing the peak of the third of four overlapping upsurges of e-commerce development. The industry has undergone a significant paradigm shift being driven by technology says Ajay Bindroo.

32 How embracing technology can

15 Mona Ataya

Mompreneur Extraordinaire!

Mona Ataya, Founder and CEO of Mumzworld, shares her inspiration, insights and challenges at the Emirates NBD Global Business Series.

A unique partnership to serve the needs of SMBs

Raju Ramesh, Co-Founder & CEO and Sunil Paul, Co-Founder & COO, FINESSE share with Intelligent SME that small and medium businesses should focus on their core business. They provide IT solutions and services for SMB technology environment & non-core business processes.

36 The rulebook for newbies in the

22 Etisalat and Intel empower

SMBs with latest enterprise technology solutions

drive results?

business market

Whatever generation you belong to, the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur and to set up a new business. Thus this article guides you with things to remember before starting a new business.

38 Introducing simplified real estate solutions for SMEs

24 SMEs drive the UAE Auto

42 Critical illness cover vital for

industry

UAE is the second largest automotive market in the GCC after Saudi Arabia. Last year the automotive retail sector growth is estimated to be 6.5% year-on-year in the first half.

26 Auto payment options

made easier

The SME Department at Al-Futtaim Motors shares with Intelligent SME, the launch of three Toyota Business Centers which is dedicated to service its SME customers across the UAE.

Zarah Evans, Managing Partner, Exclusive Links shares her entrepreneurial journey in the real-estate sector in the UAE.

business owners

For any business owner- in particular owners of SME’s- their share in the business is likely to be their biggest financial asset.

44 Create a winning sales strategy

Sales skills should be carefully crafted for any business since it is an important tool to generate revenue.

Contents

October - November 2015

52 The legal eagle

explains

Aws M. Younis, Managing Aws M. Younis, Managing DirectorFounder, Abdulla Al Suwaidi Advocates shares his inspirational journey as a lawyer and his work which is his fidelity and his objective is to achieve justice, save rights and deliver justice.

55 Outsource your CFO

One of the weakest point of SMEs is to have good book keeping and proper accounts tallied for smooth functioning of the business.

61 Rare & Fabulous

High-end luxury products for CEOs and decision makers.

48 Helping women entreprenuers succeed

Nadine Halabi, Business Development Manager at Dubai Business Women Council tells Intelligent SME, how DBWC is a diverse networking platform. It connects and trains young and budding women entrepreneurs through seminars and workshops and open doors for new business opportunities.

Supported by

50 Managed print services lowers SME costs

Today the printing environment has become increasingly complex for the SME community. Managed Print Services (MPS) and document management practices have emerged as a key solution for the SME community which helps them across diverse verticals to focus on their core business.

Be a Connector

EDITOR’S NOTE A business ecosystem is held together by innumerable elements. One of these prerequisites is a fleet. Today, a fleet is known to be an integral part of business as it is directly related to processes such as production, manufacturing, sales and distribution.

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Publisher & CEO Shantanu A.P. Editor Jinal Chheda Consulting Editor Sandeep Sharma Asst. Editor Audrey Fernandes Expert Contributors Ajay Bindroo George Deeb K. Rajaram Iman Ben Chaibah Marcus Gent P.K. Menon Simon Howells Vikas Thapar Wadih Haddad Art Director Aneesh Varghese Designer Retheesh Viswanath Web Developer Raj Shekar Reddy Project Coordinator Khushbu Ranjan Response Executive Sheila L. Ruga Distribution Department Jerry P. Sam Editorial Enquiries & Contributions

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An automobile is not an obstacle for large corporations, but an expense for small and medium businesses, who face financial challenges in their journey. With the automobile industry elevating its prominence by delivering tailored options to SMEs, auto-financing becomes a part and parcel of the deal.

In the UAE, we have banks and financial institutions who lend money in the form of car loan for SMEs. Financial Institutions and banks not only help you to drive away with the car of your choice but also offer flexible payment options and reliable services.

They help SMEs for financing new or used/ pre-owned cars and commercial vehicles as well.

UAE is the second largest automotive market in the GCC and is also one of the largest importers of used cars. With Dubai 2020 Expo, many businesses are shifting the base to the UAE, further boosting the demand for heavy trucks and other commercial vehicles.

The Intelligent SME October-November 2015 issue focuses on Autofinance for SMEs and covers special features on importance of SMEs

in the auto industry from Al Nabooda Group and commercial vehicle financing from Emirates Money. The magazine carries an interview on easy payment options from Toyota along with many informative articles on sales and marketing, insurance etc. from experts.

Share your valuable feedback and informative articles at editor@theintelligentsme.com

I hope you enjoy reading the magazine as much as we enjoyed putting it together for you.

Happy Reading!

Jinal Chheda

Editor Intelligent SME

SPI Publishing

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

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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October - November 2015

Intelligent SME

Business Announcements

Emirates NBD and ADNIC life insurance with credit cards

E

mirates NBD, a leading bank in the region, has joined with Abu Dhabi National Insurance Company (ADNIC) to launch Protect Plus, a new product that provides comprehensive life insurance to the bank’s credit card customers. Protect Plus covers individuals in the

unfortunate event of death or disability and includes key supplemental related benefits such as involuntary loss of employment, critical illness and hospital cash benefit.

Commenting on the new product, ADNIC’s CEO, Mr. Ahmad Idris, said: “At ADNIC, we place our customers at the center of our business and continually strive to develop new and innovative insurance products to meet their needs. Protect Plus is one such example of this and enables Emirates NBD to provide additional value to its credit card holders."

The introduction of Protect Plus follows the renewal of the partnership between Emirates NBD

Twitter self-service ad platform for SMBs T witter Ads available in over 200 countries and territories and is excited to expand our self-service ads platform from 33 countries to over 200 countries and territories. Now, small and medium-sized businesses (SMBs) from Honduras to Hong Kong can more effectively reach their target audiences on Twitter in 15 languages. In addition, Twitter is happy to announce that there are now approximately 100,000 active advertisers on Twitter, including SMBs.

Since they launched Twitter Ads for SMBs over two years ago, they heard from their clients about how they’ve used our creative, measurement, and targeting tools to drive website clicks or conversions, leads, and app installs or re-engagements. And, with objective-based campaigns, reports,

10 www.intelligentsme.com

and pricing, it’s easier than ever for SMBs to drive results on Twitter while only paying for the actions that align with their marketing objectives.

With Twitter ads, you can select the best ad format for your campaign. No matter your objective, we provide the best ad format to help you accomplish your advertising goals. For example, you can use the Website Card if you want to drive high-quality traffic to your website. Or, you can leverage the Lead Generation Card to collect leads directly within a Tweet. Our suite of creative formats enables you to captivate your target audience at all points of relevance throughout the day.

Over the last few months, we’ve launched new targeting tools to help you connect with the right audience on Twitter. For example,

and ADNIC in which the Company provides protection for loans and certain life events to the bank’s retail customer base through a series of bundled insurance products. This service has recently been extended by ADNIC to cover customers of Emirates Money, the consumer finance arm of the Emirates NBD Group.

Commenting on the launch of Protect Plus, Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD stated: “As one of the leading banks in the region, we are committed to offering our customers the right products to help fulfil their financial and protection needs.

We are pleased to partner with ADNIC to provide Protect Plus, a great value-add for our credit card customers as it gives them increased security and protection.”

event targeting allows you to target users engaging with live moments on Twitter, such as the Emmy’s, Labor Day, or back to school.

Combined with our other powerful targeting types such as interest, keyword, username, device, location, and TV, you can be sure you’re targeting the right users, with the right message, at precisely the right time.

They offer a number of analytics dashboards to help you measure your performance and optimize accordingly. For instance, the Tweet activity dashboard tracks your organic Tweet activity — showing you what content resonates most with your audience.

Audience insights helps you easily discover valuable insights about your followers, the people who have engaged with your organic Tweets, your ad campaigns, or your tailored audience campaigns. And, you can easily install conversion tracking to understand the full conversion impact of impressions and engagements from your Promoted Tweets campaigns.

October - November 2015

Intelligent SME

Business Announcements

Up to AED 50,000 cashback by Emirates Money E mirates Money, a leading finance company and a subsidiary of Emirates NBD, has launched a promotional offer of up to AED 50,000 as a cashback, for all customers availing of loans.

The limited-period offer also entitles new customers to a free Emirates Money MasterCard Business Credit Card that meets the specific credit needs of SME / Micro SME business owners in the UAE.

Vikas Thapar, CEO of Emirates Money, said: “The cashback offer has been created to allow its customers to maximise their financing relationship with Emirates Money. We have gained a reputation for offering the best value to our customers, and we are certain this promotion will be

welcomed by our existing and new customers.

“In addition, the cashback offering is also enhanced with a lifetime cashback of up to AED 2,000 per month on the Emirates Money Business Credit Card along with a guaranteed cashback on all Emirates Money Loans. This will further enable entrepreneurs to streamline their day-to-day finances and manage their cash flows more efficiently.”

Since its inception in 2008, Emirates Money has given more than 30,000 loans worth AED 7.0 Bn. Emirates Money currently enjoys a significant market share and has been growing faster than the market in the key product groups of vehicle financing, business loans and mortgagebacked loans.

October - November 2015

Intelligent SME

Business Announcements

Emirates NBD declared best UAE bank

E

mirates NBD, a leading bank in the region, announced that it had been recognised as ‘Best Bank in the UAE’, at the 23rd annual Euromoney Middle East Awards for Excellence 2015.The award was presented to Abdulla Qassem, Group Chief Operating

Officer –Emirates NBD, at a distinguished award ceremony held in Dubai, attended by leading figures from the banking and capital markets across the Middle East. The announcement comes shortly after the bank posted a strong set of financial results with net profit for the first half of 2015 up 41 per cent to AED 3.3 billion.

Abdulla Qassem commented, “We are honoured to be recognised as UAE’s best bank by a prestigious institution such as Euromoney. Emirates NBD set out a growth strategy to develop need-based innovative propositions and improve customer experience across retail and corporate platforms, and this has resulted in bold initiatives which set new benchmarks for the industry and robust growth. We continue with our remarkable performance across all parameters, and are well positioned to utilise our strong franchise, capital and liquidity base to take advantage of opportunities within the region.”

Commenting on Emirates NBD’s win, Euromoney noted, "Now we can look afresh at the strength of the overall franchise, which is very good indeed.

Right now, Dubai is a good place to be. Emirates NBD estimates it has 14 per cent of the UAE’s personal loans business, 15 per cent of auto loans, 17 per cent of credit cards and 24 per cent of debit cards, and dominates all of these categories within Dubai."

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October - November 2015

Intelligent SME

Get Informed

Dubai Courts’ smart app services to help judicial cases I

n a major leap towards ‘smart’ transformation, Dubai Courts has announced that its first smart application, comprising a collection of 110 services, is now available directly to its individual and corporate customers involved in judicial cases. The move will result in a significant rise in the use of legal and judicial smart services in line with the vision and directives of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to increase the usage of smart services to 80 per cent by 2018 and reduce the number of walkingin customers.

H.E. Expert Tarish Eid Al Mansouri, Director General, Dubai Courts, pointed out that enabling individual and corporate customers involved in judicial cases to have a direct access to Dubai Courts’ interactive smart services complements the Courts’ efforts to consolidate smart processes to seamlessly manage all kinds of cases with the highest standards of promptness and efficiency. He added that the customers are able now to submit the applications directly through the ‘Smart App’ which offers a wide range of advantages, including electronic case filing, accessibility to e-Notary services and archived documents, and provisions and legal cases tracking.

H.E. Al Mansouri said: “Dubai Courts’ ‘Smart App,’ which was awarded the ‘Smart Government Shield’ for the UAE’s Best Smart App, has received an overwhelming response in the last few months from all concerned parties, such as external customers, internal auditors, secretaries, execution officials and judges. It has had great positive impacts on increasing customers’ satisfaction, happiness and well-being; strengthening

smart transformation; and driving Dubai Courts’ leadership and excellence within the judicial and legal systems.”

“Dubai Government’s efforts have yielded positive and tangible results in various areas of importance, especially in terms of cultivating the culture of ‘smart’ transformation and promoting customers’ confidence in ‘smart’ government services. We, therefore, are determined to continue our endeavours to offer out targeted 210 smart services by the end of this year, in line with the wise vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum to make public services more streamlined, faster and simpler, making customers happier than they were in the past years,” he added.

Al Mansouri concluded: “The rapid increase in Dubai Courts’ customers’ confidence pushes us further to focus on enhancing quality, efficiency and reliability of our legal and judicial services. This will ensure more convenience and faster completion time in facilitating transactions, while saving efforts to utilize the best services across various areas in the emirate.

We are fully committed to adopt the latest advanced technologies and embrace the culture of creativity and innovation which is considered as a main

pillar to provide ‘smart,’ connected services. Moreover, it supports the goals of ‘Dubai Plan 2021,’ which aims to build a government that is ‘proactive and creative in fulfilling the needs of individuals and society as a whole’.”

Dubai Courts’ ‘Smart App’ is the world's first-of-its-kind judicialbased smart services app. It is a proactive step in providing various bundles of highly interactive legal and judicial services aimed at the happiness of customers and well-being of society. The App reflects Dubai Courts’ commitment to translate the vision of Dubai’s wise leadership into reality of transforming Dubai into the world’s smartest city and building a government of future that never sleeps to achieve happiness of its people.

13

October - November 2015

Intelligent SME

Get Informed

Citizens asked to renew passports electronically

T

he Ministry of Interior has called upon the citizens and families of the United Arab Emirates to avail the electronic services available via the Ministry of Interior’s smart application, UAE-MOI. The services conveniently allow customers to complete their transactions without needing to visit the service centers, excluding special cases that require the customer to be present. The smart application is compatible with iOS, Android, Windows, and Blackberry operating systems.

“The use of the application to renew passports and to avail other services is an important step that keeps pace with the significant developments that are taking place in various fields throughout the nation,” said Major General Khalifa Hareb Al Khaili, Acting Assistant Undersecretary of the Ministry of Interior for Naturalization, Residency and Ports Affairs.

“This step additionally reflects the strategy of the Ministry to transform its services by providing convenient access to the myriad of high-quality services via the website or smart phones.”

Continuing, he stressed the importance of UAE citizens to encourage their families to save both time and effort by taking advantage of the benefits provided by the Smart Government in the completion of their transactions.

“Users from every segment of society only need to use the

14 www.intelligentsme.com

information available on their identity card to avail the quick and hassle-free services that have been developed through accurate data and the contents of the smart phone application,” he said.

Major General Al Khaili noted that the departments of the Naturalization, Residency and Ports Affairs are to introduce the customers to the smart e-services provided by the Ministry through the smart application UAE-MOI and show them how to access them. He also highlighted the keenness of the Ministry to continuously improve the performance indicators and update the smart applications to introduce additional services, and pursue excellence through streamlined and simplified procedures that guarantee a speedy completion of transactions.

For his part, Lt. Colonel Matar Kharbash, Head of the E-services Department and Head of the team supporting smart transition at the Naturalization, Residency and Ports Sector, indicated that the passport renewal service via smart phones allows citizens to avail the service in a matter of minutes, where the Dh50 fee is paid automatically and the passports are sent to citizens wherever they are. “The application can be downloaded through the applications store depending on the type of phone,” he said. To avoid any delays in the renewal process, Lt. Colonel Kharbash urged citizens to renew their passport

electronically through the smart application at least one month prior to the expiration of their passport and to take into account the requirements for the passport photo. “The photo must be recent, have a white background, the subject should be facing towards the camera, and all facial features must be clear,” he said. “It is recommended that persons wishing to renew their passport start their transactions early and well before the anticipated date of travel,” he said; as he noted importance of turning in old or expired passports immediately after receiving the new passports.

Lieutenant Colonel Faisal Mohammed Al Shimmari, CEO of the Smart Government Program at the Ministry of Interior, emphasized the commitment of the Ministry to enhance customer satisfaction and to increase their confidence. This comes as part of the main objectives of the Smart Government to reach people through advanced services via UAE-MOI, the Ministry’s application that is available on smart phones.

“This falls in line with the efforts to realize the UAE Vision 2021, tag lined ‘United in Ambition and Determination’, which aspires to place the UAE as one of the best countries in the world by 2021,” he said. We endeavour to establish the UAE as one of the safest places in the world through enhancing the community’s sense of security, and reaching advanced levels of reliance on police services,” he said. In a bid to enhance the level of services, maintain excellence and quality, and raise customer satisfaction rates, the Ministry has allocated the number 8005000 to receive customer inquiries during working hours.

October - November 2015

Intelligent SME

Meet the CEO

Mona Ataya-

Mompreneur Extraordinaire!

Mona Ataya, Founder and CEO of Mumzworld, shares her inspiration, insights and challenges at the Emirates NBD Global Business Series.

An individual needs to be inspired in order to have an extraordinary vision and achieve unimaginable success.

Who were your inspiration and how did they structure your journey?

MA: Recounting inspirations is a difficult task at hand. Clearly, because in the early years everybody plays a pivotal role in shaping your future. Perhaps, one of the people I sought inspiration from was my father, who instilled the go-getter attitude in me. From the beginning, my parents urged us to discover our goal. Although, the journey was full of trial and errors. In an incident my English teacher culminated into a source of inspiration. She persuaded me to write a journal. I obliged, but, none of my posts impressed her. The raging curiosity forced me to explore her opinion on good journal entries. She told me that journal entries should exhibit experiences that the writer considers unique. This exercise opened a gateway to discovery and 15 www.intelligentsme.com

October - November 2015

Intelligent SME

Meet the CEO

instilled the tendency of looking at situations in a different light.

What are the golden rules you follow to integrate work and life?

MA: Viewing situations in

a different manner, making a difference and striving for excellence is how I lead my life and teach my children to do so as well. It boils down to the notion of excellence. Leading your life in this manner, enables you to solve an equation or analyse a situation, perhaps in a different way.

You were business-oriented from an early age. Shed some light on your early experiences?

MA: When I was 9 years old, my father bought us a pack of Hubba Bubba chewing gum from the US. We were three siblings and we got one chewing gum each. Delighted by the experience, when we asked for more, my father asked us to earn it instead. I hatched a plan to sell the bubble gum to my friends in school. That was my first experience in trading. Today, many a times children get things easily. However, my experiences certainly taught me that in order to gain something, you have to lose something.

Which insights from your earlier experience do you translate in your line of business?

MA: There are three pillars that form the foundation of any business: accountability, vision and strategy. Moreover, an entrepreneur needs to be resourceful, as it forms the crux of the journey. Being resourceful is the key factor in managing an organization. Generally, when an entrepreneur is quizzed about the failure of his vision, absence of the right people, insufficient funding, 16 www.intelligentsme.com

poor infrastructure and resources are known to be the reasons behind his downfall. In reality, such entrepreneurs fail to display resourcefulness. I learnt ownership, accountability and resourcefulness at a young age, which is translated into my business.

of products, providing transparent pricing and product information, and conveniently and costeffectively delivering products to your doorstep within 2-3 days.

How did your academics influence your inclination toward entrepreneurship?

MA: I founded Mumzworld in

MA: My background is in finance

and marketing. Interestingly, I was enrolled in a 6-year medical program in the US. My goal was to make a difference and save the world by being a doctor. I was studying economics, whilst interning in a hospital. Suddenly, it occurred to me that business was my passion and drive. From that day forward I followed my instinct.

Brief us on your entrepreneurial venture: Mumzworld?

MA: Mumzworld is the largest

shopping vertical for mothers, babies and children in the region.

We are a 4-year old brand, having over 100,000 product catalogues listed on our website. We have over 650,000 mothers listed in our database. Our vision is simply making a mother’s life easy. We want to empower mothers and help them make informed purchases for children. This is achieved by offering access to the widest range

I founded Mumzworld in November, 2011.

In actuality, when a business is driven by an absent need, economic crisis do not pose an obstacle

How did you conceive the idea of Mumzworld?

November, 2011. In actuality, when a business is driven by an absent need, economic crisis do not pose an obstacle. Fifteen years ago, I was working with Johnson & Johnson in Zurich. My work was utterly comfortable, with the office overlooking the Alps and the smell of fresh coffee. Every single day, I thanked God for blessing me with this opportunity. One faithful afternoon, my brother, discussed about revolutionizing recruitment in the Arab world with Bayt.com and it came into existence. Fifteen years ago, his idea seemed inconceivable as the Internet penetration amounted to only 2% as compared to the present scenario. With the Internet bubble bust, online entrepreneurs and investors hit rock bottom. However, we fundamentally believed that Bayt would make a positive social impact in the Middle East. The idea was driven by the need to offer right opportunities to smart and successful Middle Easterners.

We wanted to create an effective way of helping employers connect with great talent. Within 9 months, Bayt was declared as a profitable business. As a mother of 3 children, I wasn’t satisfied with my decisions and short-changing my children.

It was time to address the missing need, ergo, Mumzworld.

What cultural challenges does an ecommerce entrepreneur encounter when engaging with consumers online?

MA: According to Nielsen, 66%

of the mothers in the Middle East, research products online before making the purchase. A mother-

October - November 2015

Intelligent SME

Meet the CEO

entrepreneurial journey and 90% of the journey constitutes the vision, grit and people.

When I joined Bayt, my weakness was technology, however this inadequacy was masked by the head of technology. In Mumzworld, I lacked knowledge on e-commerce operations, but I have a strong head of operations. My weaknesses is shielded by the strengths of my team. An entrepreneur needs to build a team of strengths that can complement the vision.

Team building is a challenging task. What are the key attributes you seek in a person when building a team? to-be is researching online for the best strollers, car seats etc. There are certain verticals, wherein the tactile quality of the product is crucial. However, online becomes a powerful and relevant tool when the buyer wants to compare the products through research and reviews.

Ecommerce is a $1.6 trillion industry, which has 29% compounded annual growth rate. It is the fastest trend of the decade. The reason being that that consumer has changed and demands convenience, transparency in pricing and information. The consumer battles with time constraints, therefore has no time to go mall hoping.

Mumzworld offers over 100,000 products at your fingertips, which can be compared against prices, descriptions and brands. The products will be delivered to your doorstep within 2 days, free of charge. Moreover, if you dislike the product, it will be picked up, exchanged or refunded. This ensures a zero-risk experience. We have managed to fix the pain point of the busiest consumer in the world, which is, the stay-at-home mother.

Since the Mumzworld model was new to this region, we leveraged on the first-mover

advantage as a start-up. However, this proposition isn’t a novelty around the globe. For example, Diapers.com was launched in the US and then sold to Amazon for $540 million, Babyo and Firstcry in India, Zulily went public for $2.5 billion. As a global concept, this proposition is doing phenomenally well, because the mother, no matter in which part of the world has the same needs. She wants to raise her kids in the best possible way and in an easier manner. Mumzworld helps mothers to do so.

Being unfamiliar with the ropes of the trade proves to be a disadvantage. How can this challenge be effectively addressed?

MA: When I started Bayt.

com, I had no knowledge about technology because I come from a traditional FMCG background.

Building a recruitment website, payment gateways etc. was alien to me. Being resourceful is what assisted me on my journey. The lesson learnt was that hard skills are easy to grasp. An entrepreneur needs to understand the functioning of certain elements such as supply chains, logistics etc. and improve them. Technical skills comprise only 10% of the

MA: Once somebody told me that I don’t have to like everyone on my team. I strongly disagree with this idea. If you dislike someone, it is difficult to work together. While recruiting, firstly make sure the person shares the same drive and passion as you. If he/she doesn’t, they will never go the extra mile to achieve the objectives. Secondly, the element of excellence is critical. Doing unique things with utmost excellence is appreciated.

For example, the customer care executive needs to understand the situation, be proactive, empathetic and think quickly.

Skillsets needed for e-commerce is rare in this region. Therefore, it is safe to recruit a junior, who can be trained, instead of recruiting a seasoned individual, who will probably be poached later.

Why is ecommerce touted to be an upstream business and an undesirable venture?

MA: You cannot expect to sell products by merely creating a website. Just like the retailer or store merchandiser, the website needs to speak to the customer in a similar fashion. The website needs to function on multidimensions. For example, it needs to be equipped with smart 17 www.intelligentsme.com

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Intelligent SME

Meet the CEO

A mother needs to know that at Mumzworld, she can search, compare and buy products at the best low prices. To achieve this an entrepreneur needs to work with retailers, distributors, manufacturers etc. technology. It needs to mobilize several touch points involved.

Ecommerce is a logistically complex endeavour, hence retail giants avoid penetrating the ecommerce channel. The DNA of an online player is different from an offline player.

Which aspects make Mumzworld standout from the crowd?

MA: There are many elements that differentiate Mumzworld.

Firstly, pricing is a major influencer. Buying and shipping a toy or a stroller from Mumzworld is comparatively cheaper to Amazon.

There are 100,000 products displayed on the website. Secondly,

the products are delivered within 2-3 days. On the other hand, Amazon delivers products within a week or longer. Mumzworld allows the customer to return or exchange an item, unlike Amazon.

The website is bi-lingual. Accessing customer support at Mumzworld is comparatively effortless.

Localization and customization are the core elements of differentiation. We have 50 million mothers engaging with us on a daily basis via Instagram. There are mothers who speak to us in Arabic, asking for advice and help even at 2.00 am, whereas access to an international brand is limited.

What challenges hindered your journey to 100,000 products?

MA: When we launched

Mumzworld in 2011, it was a chicken and egg situation. The confusion was whether to attract customers or stock products.

The challenge is to appease the suppliers as well the customers. We were carrying out all operations in parallel. We approached, convinced and listed big brands, then made our way to the distributors and manufacturers, hanging by a thread. With very little in the purse, we had the cheapest supplier provide the product without any payment. That particular pitch, perseverance and grit made my impassioned journey fulfilling.

We are revolutionising shopping for Middle Eastern mothers.

Mumzworld will merchandise and market a manufacturer’s catalogue. If the products sell, he wins, otherwise the products are returned, and hence he incurs no risk. In September 2011, our website went live with 15,000 branded products. Today we are 100,000 SKUs because of resource limitations. On an average, we acquire 3000 exclusive additions per week. Today, we cherry pick global best sellers and award winners, to fuel our growth strategy.

Which business model is Mumzworld based on?

MA: Basically, our aim is to become a go-to destination for mothers wanting to shop for their children.

A mother needs to know that at Mumzworld, she can search, compare and buy products at the best prices. To 18 www.intelligentsme.com

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Meet the CEO

achieve this an entrepreneur needs to work with retailers, distributors, manufacturers etc. Mumzworld is the entry point for retailers having insufficient funds to establish an online store or lack time to do so.

At Mumzworld we do marketing, logistics, and leave no stone unturned to sell a product. It is similar to having an online forum wherein a mother can acquire everything she needs under one big umbrella.

Which key strategies should an ecommerce business leverage to win the race?

MA: Our objective was to own the largest catalogue of baby and child products in the region.

This meant to execute the best strategies and achieve the peak of success. Success doesn’t happen overnight, therefore, we prioritized the objectives. If I were to be asked this question a year from now, I’d be proud to announce that I own 12 pants which are best sellers on Amazon and exclusive to this region. So expanding the catalogue is important, which is also our key strategy. Maintaining good relations with the suppliers is also a top priority in ecommerce.

Being well-versed with the basics of online marketing can help you increase the gross revenue.

However, focussing solely on gross revenue can make everything else go haywire. Earlier, we had approximately 300 sales but after a while we couldn’t deliver due to dearth of free resources, failed payment gateways, crashed servers etc. We had to learn quick lessons. For instance, we needed to understand that a server can take a limited amount of load. As an ecommerce portal, you don’t need to grow fast but smart. At every interval, you also need to check the balances and accounts. Since the ecommerce market place is in its nascent stage in this part of the world, an entrepreneur needs to target his efforts to retain and

appeal to grassroots relationships, affiliations, partnerships etc.

Grassroots relationships have the ability to anchor a brand.

What are the key performance indicators that you use to evaluate your business?

MA: The first indicator is the gross margin. In ecommerce the average gross margin is 17%, which is termed as a success globally.

It depends on the nature of the vertical, for example, electronics can result to 1% or 2% and fashion can elevate to 50%. In this part of the world the average gross margin is 10% and we have a gross margin of 35%. Our gross margin is vital because we are involved in a business which will never have deep pockets like venture funds. A good gross margin will allow us to scale and sustain the business. The other indicator is loyalty. In ecommerce it is typical to buy products that the consumer demands. Often a buyer will see advertisements from a website you previously visited displayed on Google. The marketer is trying to reacquire your interest and convert the prospective consumer into a

purchase. At Mumzworld, the touch points in the website are fully corroborated so that the consumer continues to buy regularly, discarding the need to invest in marketing. As the journey evolves with time, simultaneously the best practices are placed in order. The third indicator is conversion, so that every dollar is an ROI (Return on Investment). An entrepreneur needs to monitor his incomings as well as his outgoings and the duration each customer thinks his business is valuable. To pay our customer between 14 to 18 months is considered to be successful. We are able to pay our acquisition within 2-3 months than other brands globally.

Are you providing the mothers with value propositions? If yes, then are these propositions governed by control mechanisms?

MA: The personality of a brand reflects certain ambitions and values. Many a times a particular brand reflects the people managing it. Mumzworld places its importance on the core values.

For example, after launching Bayt, 19 www.intelligentsme.com

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Meet the CEO

I felt my children were getting the short end of the stick. I didn’t know how to purchase the best possible things to make my children happy, contributing young men. It was this question and value that drove and mobilised Mumzworld. Mumzworld aims to empower the mother by providing all the resources and tools to enable her to do the best for her baby. If we are unable to deliver, we accept our shortcoming.

How do you position your product?

MA: Firstly, Mumzworld doesn’t sell the products to kids. The psychographics of a mother of 0 to 4 year old kids is different from that of 5 to 12 years old. This is the reason behind the consumers’ feedback being displayed separately on the website. Today as a mother, I go to the 5 to 12 years old website and buy birthday gifts, gift registry etc. sorting each product based on price. However, if I had a newborn to cater to, I wouldn’t be searching by price but by the highest quality.

What prompted you to become an entrepreneur?

MA: I had a full-time job at Johnson & Johnson. It was a wonderful phase in my life, wherein I travelled across Europe, learned German, was surrounded by positive and smart people. All in all, it was a learning experience.

However, the turning point was the element of social impact and accomplishment. A lot of people talk of success, in terms of money and assets. Personally, that is not considered as success.

I undertake a responsibility with utmost passion and excellence, so that it makes a difference. In order to decide whether I should quit my job and embark on an entrepreneurial venture, I put pieces of paper in a hat and asked my brother to pick one.

He picked up a paper that read I 20 www.intelligentsme.com

MA: I am not driven by money,

I am not driven by billion dollars, as it will follow by building a business. If you are driven by billion dollars then you defeat the purpose. It is all about my passion and drive

shouldn’t leave my job. I ignored the message because I had already made a decision. Mumzworld was a difficult venture than Bayt, as I had to juggle my personal as well as professional life. Today, I manage my household with three kids and constantly monitor my business as well. There are times when I wake up and feel tired. As I said before, nothing great comes without a journey of highs and lows. Often, women talk about the notion of balance. According to my experience, there is no such concept.

What do you aim to achieve through Mumzworld?

MA: I am building a business that will be a leading gold standard ecommerce platform for mother, baby and child in the Middle East and African region. I am building a business that adds value to a mother’s life. In 2 to 5 years, if someone suggests that the intrinsic value of the brand can be utilized to do better through partnerships and acquisition, then so be it.

Many a times, success leaves people with money but no relations. Do you fear the same?

as it will follow by establishing a business. If you are driven by money then you defeat the purpose. It is all about my passion and drive. There have been times, when I have looked upon Mumzworld, looked up at the supplier and people associated with the organisation and thought that this isn’t my passion because I missed a parent-teacher meeting.

My success lies in my children because they are my inspiration.

Every entrepreneur needs a reality check after a certain interval.

Earlier, you mentioned having 100,000 SKUs on the website.

How many of them are actually in stock?

MA: We operate in a similar way

as Amazon. Amazon has 80% of the products stocked in the warehouse.

Our fast moving products are all in stock. In this part of the world, the landscape is under developed, therefore a challenge. For example, a supplier sends me a catalogue of the 10 best products. I display it on my website in the morning and someone places an order immediately. When I communicate with the supplier with regards to the order, he says that the particular product is out of stock.

This is the part of the journey we are trying to fix. Bigger the brand, higher the leverage, therefore, the suppliers are more careful when dealing with us. As a market place we will never be able to stock everything.

How many people work in the company to serve these SKUs and how are you mentoring entrepreneurs to be?

MA: There are 50 people in my

organisation and I am part of the Endeavor Group. Two years ago, Mumzworld and I was selected to be a part of the Endeavour Group and it was a great privilege.

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Meet the CEO

about AED 100,000 worth of gifts to kids in Al Ain. Our social pages enlist the various causes we support.

In the year 2050, how are we celebrating your life?

MA: I will be

surrounded with my sons, my husband, my siblings, my parents and my husband’s family.

My sons will be sharing stories of how they have made a positive impact on the world. It would be my greatest blessing to see the passion and integrity in their eyes. I don’t need to have billion dollars, but my comfort and kids. I may be blessed to say that I have thousand or billion people whom I have given excellence through my achievements. This is success to me.

As a part of Endeavor, I mentor entrepreneurs.

There may be retailers whose products are not stocked by Mumzworld?

MA: Mumzworld is open to

retailers, who want to merchandise on our website. Basically, we get their products displayed on our website, market it on their behalf and manage the entire supply chain. We allow advertising, so brands that don’t want to merchandise on our website can advertise or sample. Also, we have sampling exercises, which is, we prepare sample products in different boxes for moms of certain age.

Which social causes does Mumzworld support?

MA: When a person signs a

contract with Mumzworld, by mandate he has to participate in

I used to spend hours and hours researching on books to read to my kids, this is why my kids are great readers. This is why my kids love to learn, and are curious because of the decisions taken at an early age one of our social causes. For this Ramadan we gave meals. We work with autistic and special needs kids, as well as with mothers who give birth to babies behind bars. All of them are provided with necessities.

Last year during Eid, we donated

Is there any desire inside you that want to achieve that will help to change the world and make a difference.

MA: When you empower a mother, you are empowering a generation. This is one of the reasons why Mumzworld is important to me. If you give a mother the right tools that help her make the right decisions for her family, ultimately these decisions will impact her kids as well. I use to spend hours and hours researching on books to read to my kids, this is why my kids are great readers. This is why my kids love to learn, and are curious because of the decisions taken at an early age. So far we have empowered mothers to make right decisions because we cater to the new generation. Mumzworld is a tiny part of the transformation.

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SME Enablers

Etisalat and Intel empower SMBs with latest enterprise technology solutions A unique partnership to serve the needs of SMBs

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tisalat has collaborated with Intel as a technology partner to provide the latest commercial devices to SMB customers subscribed to Etisalat’s ‘Business Quick Start service.

Etisalat’s Business Quick Start customers now have a wider range of free devices and high-end office equipment to choose from at zero upfront cost and easy-instalment options. This unique partnership combining Etisalat’s strength in SMB solutions and Intel’s expertise in the ICT domain is in line with the two companies’ commitment to equip and empower SMBs with the necessary IT and telecom essentials.

Nassir Nauthoa, General Manager Intel Gulf region said, “The partnership between Intel and Etisalat will enable the delivery of robust solutions for the SMB segment in the UAE. Etisalat’s Business Quick Start service

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offering high speed broadband and fixed voice packages combined with hand-picked commercial devices powered by Intel technologies will help transform businesses and help them compete in today’s advanced business environment. We are proud to partner with Etisalat and contribute to the advancement and growth of SMBs in the UAE.” Intel has collaborated with Etisalat on multiple fronts. Earlier in the year, Etisalat signed an MoU with Intel at the Mobile World Congress (2015) to set up a cloud computing platform, leveraging Intel’s technology leadership and expertise in cloud technology.

As more companies consider outsourcing their IT services, the technology that powers cloudbased services and applications matters more than ever as it dramatically affects business performance and efficiency.

Hence, the importance of choosing a quality provider with platform performance, security benefits and capabilities that meet customer needs. The two companies will also work on establishing a demonstration environment lab for technology innovation in Cloud and Internet of Things (IOT) services, including on-ground joint promotional roadshows in key Business Free Zones throughout the UAE.

Business Quick Start offers more devices at zero upfront cost

With Expo 2020 lined up, UAE will attract more than 100,000 new businesses over the next three

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Image courtesy: cdollarphotoclub.com

years. Etisalat’s Business Quick Start solution is apt for startup businesses to enable them to effectively manage their business operations.

Business Quick Start offers the basic essentials for businesses to get started: high-speed fixed

broadband Internet, free national and international voice minutes and free devices - such as laptops, tablets and smartphones - on a single, converged bill. A complete range of latest office and personal devices have been added to this one-of-a-kind bundle which

Etisalat has collaborated with Intel as a technology partner to provide the latest commercial devices to SMB customers subscribed to Etisalat’s ‘Business Quick Start service

includes printers, projectors, smart signage TVs, desktops, routers, switches and more from globally renowned brands and manufacturers.

Importantly, the free devices and zero upfront in easy instalment plans caters to a more flexible OPEX model and reduces the burden on CAPEX costs for SMBs. It helps customers better manage their business costs, cash flow and monthly budgets, which are critical success factors for start-ups as well as established SMBs.

For more information, please call Etisalat’s dedicated SMB Call Centre at 800 5800 or visit http:// www.etisalat.ae/businessquickstart

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Intelligent SME

Insights from the Auto Czar

SMEs drive the UAE Auto industry UAE is the second largest automotive market in the GCC after Saudi Arabia.

Last year the automotive retail sector growth is estimated to be 6.5% yearon-year in the first half. It is estimated that the overall UAE volumes would have approximately 30% share of SME Automotive business and this is currently growing.

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Intelligent SME

Insights from the Auto Czar

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he SME sector has in the recent few years recorded an impressive growth in terms of new entrants. According DED between Jan-Sep 2010 and Jan-Sep 2014, the net number of SME licenses issued increased at an average of roughly 7.6% annually indicating an improvement in business environment. The net number of SME licenses issued in Dubai increased by 8.3% year-on-year in 2014. By the end of 2014, 132,288 SME licenses had been issued in Dubai.

Ease of doing business, overall political and economic stability are some of the contributing factors towards the growth of SME sector.

This is evidenced by the fact that bank credit to UAE wholesale and retail trade sector for the period Jan-Sep 2014 expanded by 13.5% year-on year.

SME is a growing percentage of auto loans, currently estimated to be hovering around 20% for big banks and could be up to 50% for small to medium banks focused on SME segment.

It is estimated that the overall UAE volumes would have approximately 30% share of SME Automotive business and this is currently growing. Some studies indicate that in Dubai, SMEs represent 95% of all firms, account for 42% of the workforce and contribute around 40% to the GDP generated in Dubai’s economy. This includes tourism and transport companies. With 2020 preparations this segment is poised for growth.

UAE is the second largest automotive market in the GCC after Saudi Arabia. UAE relies heavily on imports with virtually the entire supply being imported. Last year the automotive retail sector growth is estimated to be 6.5% year-onyear in the first half. Many retailers registered even higher growth by year end.

A noticeable increase in demand was witnessed mainly originating from the commercial

segment of SME which accounts for an estimated 75% of the sector, with manufacturing and tourism segments trailing behind.

In our context the increase in demand for new vehicles from the SME sector has been mostly from the rent-a-car segment and largely confined to the price sensitive segment of the market.

Auto Finance data corroborates this with 70% rent-a-car and transport lending whilst corporate use is also growing within SME segment. With Dubai being a tourism and travel hub, number of RACs and limousine companies setting offices is on the rise.

Most of the Auto lending product structures are towards transport sector, with others catering to commercial vehicle segment. In our case the incremental sales are more evident in Volkswagen passenger cars sales, with a healthy year-on-year double digit growth in the sales of compact segment cars.

For us the premium vehicle segment is still to experience the spin-offs, although a modicum of increase in demand is evident from SME sector. In terms of automotive financing, we work with a panel of banks that specialize in SME financing.

SME is a growing percentage of auto loans, currently estimated to be hovering around 20% for big banks and could be up to 50% for small to medium banks focused on SME segment

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.

Unlike retail customer financing, the finance approval process is elaborate and time consuming. Our F&I department in close cooperation with our panel banks, provide the necessary expertise and facilitate a quicker turnaround time to help customers obtain bank finance.

Dubai business community was less optimistic in the first quarter of 2015 according to the quarterly business survey of the Department of Economic Development (DED).

Dubai’s composite Business Confidence Index (BCI) stood at 130.1 points in Q1 2105 down from 135.5 in Q1 2014 due to the decline in the large firms’ outlook, which comprise 60% of the overall BCI. Dubai SMEs, which comprise the remaining 40% of the index, were also less confident in Q1 2015 compared with Q4 2014.

It is with a sense of cautious optimism one views the potential offered by SMEs. With many new players in the fray, it remains to be seen how sustainable the demand is in the long run. It would also depend quite a lot on the ability of financial institutions in managing their collection and their risk appetite in the long run.

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Intelligent SME

Auto Finance

Auto payment options made easier 26 www.intelligentsme.com

The SME Department at Al-Futtaim Motors shares with Intelligent SME, the launch of three Toyota Business Centers which is dedicated to service its SME customers across the UAE. Al-Futtaim Motors’ being the reputed automotive brand and customer’s choice, it offers the strongest finance packages and flexible payment options to its customers.

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Auto Finance

Through Al-Futtaim Finance we work closely with a large number of partner institutions to provide auto financing to our customers Q: Tell us more about

Al-Futtaim Motors’ SME benefits?

Over the past four years, the SME business at Al-Futtaim Motors has grown by 120%. This, in large part, is due to our belief that the SME sector is one of the most vital and fastest growing sectors in the UAE. This year also marks some truly exceptional developments in our SME business, with the launch of three Toyota Business Centers, dedicated to service its SME customers in Abu Dhabi, Dubai, and Sharjah and the Northern Emirates. This means exclusive account management, faster enquiry response, vehicle registration support, dedicated delivery process, aftersales packages, leasing facilities, Total Cost of Ownership (TCO) approach and Fleet Management consultancy, ensuring Al-Futtaim Motors’ SME customers experience the company’s full range of Toyota Business Solutions. No one else in the market comes close to providing such a thorough and dedicated customer approach to SMEs.

Q: What financial benefits do

you offer customers?

Al-Futtaim Motors enjoys strong relationships with partner banks. This, coupled with a strong Customer Profile and Strong Residual Values across our vehicle range, provides our partners significant comfort

in providing solutions such as 0% Down payment and flexible underwriting in line with customer credit worthiness, and extremely competitive market rates allow us to offer the strongest finance packages and offers across the UAE Automotive industry.

Q: As a car dealer, do you also help your customers with auto financing? What are the features and benefits for auto financing a car?

Through Al-Futtaim Finance we work closely with a large number of partner institutions to provide auto financing to our customers.

Q: Is auto-financing available for new and the used cars as well?

Yes, financing is available on both new and used vehicles.

Q: What is the process and

documentation required to apply for the car loan? How long does the approval take?

The process differs between financial institutions, including the paperwork required and the time required to get approval. We recommend our customers go with the financial institution that best serves their needs, and our Sales team will provide guidance basis their knowledge of our Banking Partners Credit policy.

Q: Do you follow the Islamic concept of ‘Murabaha’?

As we do not directly finance our customers, but instead support our customers obtain credit from partner banks - we observe and support the solutions provided to all customer types including Islamic and Conventional Auto facilities.

Q: Which banks and financial institutions has Al-Futtaim Motors tied up to provide car loans?

We have partnerships cross 14 banks – 6 Islamic and 8 conventional. 85% of all auto financing is provided by 6 banks (Dubai Islamic, Abu Dhabi Islamic, Emirates Islamic, National Bank of RAK, Emirates National Bank of Dubai and National Bank of Abu Dhabi), while our other partners operate in a more specialised capacity, financing specific industry or customer types.

Q: How does Al-Futtaim Motors customize the loan schemes for SMEs, given the fluctuating policies and economy?

We constantly look to create innovative customer value and service propositions through marketing campaigns that may run for a quarter or even monthly.

Q: Which are the various payment modes accepted?

We accept all payment forms, including cash, debit, credit and certified cheques.

Q: Are there any financing restrictions imposed on certain vehicle categories like sports cars or luxury cars?

All credit facilities are arranged based on the customer and not the vehicle, meaning that all of our vehicles are available for financing based on the UAE Central bank Credit Policy and Norms.

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Intelligent SME

Auto Finance

Emirates Money innovates in commercial vehicle finance

Easy access to customers at its branches or via the vehicle/equipment dealer and financing of up to AED 7 million provided at competitive interest rates, this is how Emirates Money enables entrepreneurs to streamline their day-to-day finances and manage cash flows more efficiently.

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he need for companies to finance purchase of commercial vehicles, construction equipment and fleets is generally underserved in the UAE, as most financiers focusing on financing purchase of personal use vehicles. To serve this gap in the market, Emirates Money has created a customised finance solution for purchase of

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Auto Finance

trucks, buses, fleets or construction equipment. Since its launch in 2008, Emirates Money has financed the purchase of more than 18000 vehicles. The loan process begins with a member of Emirates Money evaluating the customer’s needs in a face to face meeting to determine how much exposure they can manage, what are the margins and so forth. Armed with a thorough understanding of the revenue each asset will generate, the team then recommends a customised solution.

Emirates Money also offers easy access to customers at its branches or via the vehicle / equipment dealer showroom. Customers can benefit from financing of up to AED 7 million, provided at competitive interest rates.

Commenting on the process, Vikas Thapar, CEO Emirates Money says, “As a long standing player in the UAE, we have a deep understanding of customer requirements and cater to them with customised solutions. This insight-led approach has definitely given us an edge over most lenders in the current market scenario.

“Emirates Money finances the purchase of commercial vehicles, buses and trucks, as well as passenger vehicles used for business purposes.

We also specialise in financing forklifts and other construction equipment.

The company uses different evaluation criteria for different customers and offers tailor-made packages to cater to customer requirements that can go from a single car owner to a multiple-vehicle business,” added Thapar.

Emirates Money finances the purchase of commercial vehicles, buses and trucks, as well as passenger vehicles used for business purposes

Emirates Money’s strategy around vehicle financing includes employing sales officers with a background in the vehicle industry who are able to understand the technical specifications of commercial vehicles and can advise businesses on possible purchasing options. More importantly, they can evaluate customer requirements and advise customers on the type of vehicle or equipment to buy. In-depth market knowledge also enables the sales officers to advise customers about the best pricing in the market.

To provide further stimulus to the growth of UAE’S industrial activity, Emirates Money recently entered into a preferred partnership with CNH Capital, the global financing powerhouse for heavy vehicles and equipment.

This agreement foresees financing activities for industrial products which includes commercial vehicles and construction equipment commercialised by CNH Industrial brands Iveco, Iveco Bus and Case construction equipment through authorised dealers in the UAE. As a result, Emirates Money is able to provide financing under the brand of CNH Industrial Capital for a wide spectrum of products within the commercial vehicles and construction equipment sectors.

Recently Emirates Money also launched a limited period AED 50,000 cashback offer for all customers availing loans. New customers will also be entitled to apply for a free Emirates Money MasterCard Business Credit Card to meet the specific credit needs of

SME /Micro SME business owners in the UAE.

Thapar commented, “The lifetime cashback of up to AED 2,000 per month on the Emirates Money Business Credit Card along with a guaranteed cashback on all Emirates Money Loans will enable entrepreneurs to streamline their day-to-day finances and manage their cash flows more efficiently.

For the medium to long-term, Emirates Money expects consumers and businesses to move from cash deals to financing options that offer cost efficiencies on purchase of trucks and equipment. Clearly, with so much happening in a favorable market, the commercial vehicles market is set for a smooth, long ride.”

Vikas Thapar, Chief Executive Officer, Emirates Money. 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.

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Intelligent SME

Newage Retail

Revamping retail in the digital era The digital era is disrupting consumer goods and retail industry. Today the retail industry and its suppliers are nearing the peak of the third of four overlapping upsurges of e-commerce development. The industry has undergone a significant paradigm shift being driven by technology says Ajay Bindroo.

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-commerce has already transformed a number of industries including consumer electronics, apparel and entertainment.

The rapid adoption of digital technologies and the evolving shopping behavior is geared to sweep the consumer health and beauty category. This will only increase in speed and magnitude as annual worldwide e-commerce is projected to touch $2 Trillion by 2016.

New levels of connectivity, the new generation technologies, generation of new business models, and the rise of championing marketing and social shopping all add fuel to the digital fire.

Global e-commerce is thriving; single channel shopping experiences are being replaced by rich, multi-channel opportunities, enabling consumers to enjoy consistent brand experience. The need for seamless, cross-channel integration is putting additional

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pressure on retailers to ensure that their logistics providers are capable of delivering accurate, real-time inventory feeds without sacrificing the consistency of the experience.

These changes are creating enormous value for core players such as Taobao, Amazon, Ebay etc., while putting others, on both sides of the retailer-supplier equation and under acute pressure to adapt.

The four disruptive forces driving the retail revolution:

The retail industry and its consumer goods suppliers are nearing the peak of the third of four overlapping upsurge of e-commerce development and disruption. The first two movements have already led to a significant shakeout. The third is causing further widespread upheaval, and the fourth, which has yet to approach critical mass, has the potential to be the most disruptive yet.

In the first influx of digital

revolution, we witnessed lengthy catalogs of products with hundreds of thousands of SKUs in the music, movies, books, video games, software, event tickets, and the likes moved online. Consumers jumped at the convenience and selection as retailers such as Amazon, Napster, Flipkart, E-bay etc provided significantly broader assortments at much lower distribution costs. This led others to follow the digital trends of distribution channels.

The second inpouring saw the online migration of a broad array of general merchandise, such as electronics, computers, toys, office supplies, and specialty goods and apparel that were easy to ship and sold at price points of $20 or higher. Many traditional retailers began to invest in multichannel operations to protect market share.

Manufacturers of consumer goods in these categories established full-scale distribution partnerships with online players. Nike is one of

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Intelligent SME

Newage Retail

the classic examples of a brand that launched e-commerce businesses, targeting their direct consumers, which met an applaudable success.

The driving force behind the third influx has been the rise of online marketplaces, which allow thousands of third-party vendors to sell goods through common merchandising and payment platforms in exchange for a commission, oftentimes while the marketplace sells its own inventory as well, for example, Alibaba, the busiest commerce marketplace that processes 278 million orders and dispatches 12 million packages every single day.

From the consumer’s perspective, online marketplaces offer near endless assortments, sometimes up to 80 times that of traditional retailers, even in categories outside traditional strongholds such as books and electronics, beauty products etc.

They also offer unprecedented price transparency and

competition among vendors.

Online marketplaces are exploiting the increasing ubiquity of mobile devices with apps that allow consumers to compare prices and purchase anywhere, anytime.

Marketing and pricing innovations such as free shipping builds customer loyalty, and the resulting volume leads to economies of scale that reduce infrastructure and logistics costs, moreover improve negotiating positions with downstream providers.

In the nascent fourth wave, several trends converge. Dry groceries and other inexpensive fast-moving consumer goods along the purview of brick-and-mortar stores, will move online.

Such advances are aimed at transforming lives, business and the global economy.

Prepping for the digitized enterprise:

Digital tools are invading the business environment, provoking significant changes in the way

we work, communicate and sell, giving rise to new opportunities and challenges. It is therefore critical for business enterprises to understand technology trends that ensure business growth and expansion and integrate them accordingly.

Organizations should keep their strategies updated in the face of continually evolving technology landscape, ensuring that use of these technologies result in improving internal performance, address operational challenges and enhance consumer experiences.

The retail industry too has undergone a significant paradigm shift and is being driven by technology. The coming changes, that is IoT-driven systems, promise even more turmoil. Financial markets are assessing prospects for both industry sectors and individual companies—and their judgments are being felt in the addition or elimination of billions of dollars in market capitalization.

There is no time to dawdle as clearly digitization is the future of business and to get ahead in the race you need to embrace it.

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.

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Intelligent SME

Tech that deliver Results

How embracing technology can drive results?

Raju Ramesh, Co-Founder & CEO and Sunil Paul, Co-Founder & COO, FINESSE share with Intelligent SME that small and medium businesses should focus on their core business.

They provide IT solutions and services for SMB technology environment & non-core business processes.

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Q: Share with us the story behind establishing Finesse? How strong is its presence across the globe?

Finesse’s journey from when it started in 2010 to now has been very exciting. It was started at a time when others would have had two thoughts of getting into the market, but that strategy has panned out beautifully for Finesse. It has grown exponentially over the last 5 years under the leadership team of its co-founders Raju Ramesh and Sunil Paul. It is spread across the world with offices in 10 + locations in Singapore, Canada and India and being awarded the Red Herring Asia Top 100 company award. Growing with an average of 100% growth rate year on year, Finesse now has 250+ professionals from over 20 nationalities in a multi cultural environment catering to over 150 clients across the world.

Finesse has become the no.1 system integrators in the region by securing 10 international awards consecutively in the last 15 months. Finesse is recognized as a Red Herring Global Top 100 System Integration company, has received the ICT Integrator Champion Awards – 2015 as the ‘Software Solution Integrator of the year’ for the second year in succession to add to their bouquet of several international accolades.

Finesse was also recently awarded as the 'Dubai

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Intelligent SME

Tech that deliver Results

AG, EMC, Qlik, MetricSteam, Seclore, Kofax among others.

Q: How does technology solutions boost the business growth of an enterprise?

Smart Government - Strategic Partner'.

Finesse operates out of 10 global locations, has an ondemand support centre based out of Bangalore, and has offices in Chennai, Mumbai, Singapore, and Canada among others. It is recognized as the No.1 trusted SI in the region including the UAE, Oman, Qatar and Bahrain.

Q: Specify the services offered

by Finesse? Are the solutions offered industry-specific?

Finesse offers technology solutions and services for the Banking, Education, Energy, Healthcare, Hospitality and Retail segment.

Its core competencies are around the BI Analytics, Enterprise Content Management, Corporate Performance Management, Governance, Risk and Compliance domains. Finesse delivers its innovative solution which is backed by our partnerships with leading technology vendors such as IBM, Oracle, Microsoft, Software

Technology solutions provide an enterprise with an environment where processes and non business activities are taken care of to leave them to focus on their core businesses. It helps in optimising and streamlining all processes, to make more sense of information that is available though BI & Analytics tools, better people management through Enterprise Performance Management, manage all assets and content optimally using Enterprise Content Management and Field Force management

Finesse provides a wide range of solutions to enable an Omni channel experience for our clients. We have also started on boarding consultants onto our new business areas such as big data and IoT

solutions, comply with regulatory requirements and legal mandates through GRC (Governance, Risk and Compliance) Solutions. All these improve efficiency for the enterprise and also help reduce costs.

Q: How does Finesse cater to the demands of the ever evolving technology landscape and what factors do you consider before choosing the right vendors?

Finesse has many solutions for the BFSI, Education, Energy, Healthcare, Hospitality and Retail verticals backed up by industry domain specialists. We are also continuously extending our solutions portfolio based on the market dynamics. Some of the new solutions introduced recently include for big data and Real time analytics, Internet of Things, Enterprise Performance Management, Converged Infrastructure, and Enterprise Archive etc. Finesse is in the final stages of partnership discussions with several vendors in the areas of Enterprise Performance Management, Big Data and Internet of Things (IoT) to represent them in the regions.

Finesse partners with long standing domain experts because we believe in providing our customers with a stable environment with steady growth options through consistent support, upgrades, introduction to newer features and solutions.

Q: Discuss your focus on unified communication in terms of solutions and implementation? How is this segment growing for you?

Finesse provides a wide range of solutions to enable an Omni channel experience for our clients.

We have also started on boarding consultants onto our new business areas such as big data and IoT.

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Intelligent SME

Tech that deliver Results

We believe in delivering tangible value through big data, IoT, CloudReady Solutions, Mobile Devices and Social Media Platforms. We are abreast with the need of the day where all information should be uniformly available across platforms.

Q: How Finesse placed in the

IoT scenario?

We will continue to be the pioneers in bringing innovative solutions, and the IoT space is no different.

We have been investing heavily in learning, development and testing, and working closely with our partners to create the ecosystem of “connected world”. We will be leveraging on our existing expertise in Business Intelligence, Big Data analytics and enterprise information management for delivering meaningful insights.

With the increasing adoption of IoT initiatives, Big Data and analytics, enterprise mobility, social platforms, and cloud computing opportunities will also go up.

Finesse together with our partners is all set to play a lead role as the IoT domain is fast taking shape.

Q: What are the major areas in banking solutions that you focus on?

Our BFSI practice presents a wide range of solutions and services for Retail and Corporate Banking, Risk management, Payments, Chanel Management and Insurance.

Our solutions portfolio include Core Banking System, Internet Banking, Private Banking / Wealth Management, Mobile Banking, Credit automation / Credit scoring, Retail Sales Automation, Customer Experience, Regulatory reporting (IFRS), Basel II, Basel III, AntiMoney Laundering (AML), Real time Financial Fraud Management, Co-Operative Banking and Microfinance, Insurance and NESA Compliance Solutions.

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Innovation in business is growing worldwide, and the UAE is no exception.

With the vision of the government towards smart cities and beyond, the market is opening up in infrastructure, transportation, utilities, healthcare, etc.

growing customer base. Our services are backed by strong partnerships with industry experts in the domains we are in.

We believe that our customer centric approach of offering client specific solutions also set us apart from the rest.

Q: Do you think the UAE has the infrastructure to facilitate and drive innovation forward?

Innovation in business is growing worldwide, and the UAE is no exception. With the vision of the government towards smart cities and beyond, the market is opening up in infrastructure, transportation, utilities, healthcare, etc. Exponential growth can be predicted in Big Data and IoT technologies including smart appliances, automated public transport, real time health monitoring, digital signage, connected cars, traffic monitoring and many more.

Q: How important it is for

SMEs/SMBs to be technically well versed?

Our Banking Process Automation services include Cheque Clearing, Verification & Reconciliation, Financial Document Management, Post Dated Cheque Management, Invoice Factoring, Remittances, Settlements & Payments, Cash Management, Credit Analysis, KYC and FATCA Management and Credit Process Automation among others.

Q: How does you company differentiate itself from rivals in the market?

Our competencies are in ascertaining specific client requirements, customizing and implementation of our innovative solutions and services. We rely on our in depth knowledge and expertise help us to acquire our

With today’s business environment being such that everything is technologically driven, it would be anyone’s opinion that all businesses should be technically well versed. In reality, this cannot happen and especially when engaging with system integrators like us. We at Finesse help our clients to focus on their core business by providing solutions and services for their technology environment & non core business processes. We bring together advanced technology, robust infrastructure, a large pool of talent and a proven global delivery model to provide a wide range of IT solutions and services to our clients cost-effectively and seamlessly. We leave them to focus on their core business activities while we take on their technological challenges and meet them.

2020 READY

We can help your business grow.

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P.O. Box 61450, Dubai, United Arab Emirates. Tel: +971 4 881 8288, Fax: +971 4 881 9157 e-mail: contact@aflogistics.com www.aflogistics.com

October - November 2015

Intelligent SME

Start-Up Corner

The rulebook for newbies in the business market Whatever generation you belong to, the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur and to set up a new business. Thus this article guides you with things to remember before starting a new business.

T

he number of times I recently read about the death of 9-5 jobs, the rise of entrepreneurship and so many such articles were indicating that the millennial generation is even more into entrepreneurship than any of the previous generations, which to many of us can sometimes sound alarming, because we believed you can only become an entrepreneur once you’ve acquired the right expertise from working in the corporate world. But, is this still the case?

Whatever generation you belong to, the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur, the dandy picture of having your own time instead of the 9-5 with no one to boss you around needs to be eradicated cause it’s much more than just that. So what are some of the things you need to think of when considering taking the dive into entrepreneurship?

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What is your passion? What is your calling?

Along the years of my business, many asked me why I chose this business in particular, which is digital publishing of magazines (and later books as well). At first that question used to catch me by surprise, cause I didn’t understand where was the mystery in the question! This is what I loved so of course this is what my business will be about. The more I read into entrepreneurship I realized that the reason I went into this kind of business is cause “I followed my calling.”

But then, many more asked me how can we find our calling? And the truth is, there are no simple steps or guidelines for this. You need to dig deep and find what is it that you are truly passionate about, what is it that no matter how tired you were, the moment you see it or work on it you feel reignited and energetic again? It could be a field of interest to start a business in, and it could be a talent to offer as consultancy. If you want to

survive in your entrepreneurship dive through its thick and thin, you need to make sure you pick something you’re really passionate about so you can endure it, and make a successful business out of it.

Do you need to quit your job or can you balance them both?

If you already have a job and you came up with your new business concept, do you quit right away? Most of the times, you shouldn’t, but not always. In my experience, I actually stayed in my job for few more years until I stabilized the business concept, ensured it was profitable and sustainable, and then I quit my job, and once I did, with the whole lot more time that I had, I was able

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Intelligent SME

Start-Up Corner

to focus further and accelerate its growth way more than I could have while still in the job. Why would you need to stay in the job sometimes?

It could be cause you need further financial liquidity before depending on your new business’s profits completely, it could be cause you’re gaining valuable experience that would help you in the business, and it could simply be because you want to ensure this new business concept will succeed in the market before you cut all your other financial incomes.

How much capital do you really need?

Business concepts differ in how much money do they need for startup. Service oriented companies require the least, while

manufacturing and products oriented companies require way more. Even if you owned a fortune, don’t go ahead and pour in money without measuring how much does it really take for each item in the business, from setup, running costs, production costs, marketing costs, labor cost, and so much more!

Many businesses fail when they spend without measuring, because what they don’t anticipate is that there will still be way more that requires investment in the way ahead. A good tactic would be to ask around and research online for what are the unforeseen expenditures in the business industry you’re entering, so you can plan ahead where the money should go and how much.

Iman Ben Chaibah, founder of Sail Publishing, a digital publishing house for online magazines and ebooks, and editor in chief of the Emirati Sail Magazine, an online magazine about community and culture written in English by Emirati columnists. Iman is a multi-award winner in digital publishing, entrepreneurship, and literature.

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Intelligent SME

Entrepreneur in Focus

Introducing simplified real estate solutions for SMEs Zarah Evans, Managing Partner, Exclusive Links shares her entrepreneurial journey in the real-estate sector in the UAE. Exclusive Links Real Estate is a boutique company which offers a complete property experience including sales, leasing and property management. It remains focused with no dilution of quality or commitment.

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Q: From the aviation sector into real estate, this is an interesting leap. Why take this plunge?

I started my career with Qantas Airways in Australia and was with them in a senior sales and marketing role for 12 years. This gave me the grounding to respectfully walk into any business and make sound decisions for the company and its people. Moving to Dubai 18 years ago, I quickly identified the opportunity to immerse myself in a new dynamic industry whilst maintaining the same ethics and business mind. It’s not about aviation or real estate, it’s about the way you manage the business.

Q: What is Exclusive Links all about? What are the core values and services offered?

Exclusive Links Real Estate is a boutique style company that harnesses professional and market expertise from all areas of the business. We offer a complete property

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Intelligent SME

Entrepreneur in Focus

innovation and that vision in itself is remarkable – a city and a future I want to continue to enjoy.

Q: The SME sector makes up for 80% of the economy in this region. How does Exclusive Links help to reinforce and strengthen the SME sector through its services?

Our complete property experience is supported by preferred professional partners. These value added service providers are regulated and licensed within their own fields and compliment the professionalism offered

by Exclusive Links Real Estate.

Working in collaboration with other professionals helped us to build upon the strengths of our existing brand and profile of services whilst ensuring a longterm sustainability and extensive compliment of expertise in the industry. The advantage of this blended approach enables our customers to draw on more knowledge of services to assist them with ‘anything property. ’ It enables Exclusive Links to widen their breath of services, network and expertise.

experience including sales, leasing and property management and as a team we continue to work in pursuit of excellence. We maintain a respected reputation in the market and community and strive for the highest standards and practices. Exclusive Links pride themselves on long term relationships with our customers and deliver consummate credibility, extensive expertise and a proven client centric approach.

We remain focused with no dilution of quality or commitment always with a core value of working for the benefit of the customer.

Q: After travelling across the globe, why did you choose

UAE as the destination for your business?

I’m not sure if I chose the UAE or the UAE chose me – whichever way I now consider Dubai as my home. Having lived around the world, Dubai is perfectly located between the UK and Australia of which I have family in both these corners of the globe. Dubai is one of the most dynamic and rapidly growing cities in the world and I settled here first and foremost for my family and then my business.

Dubai has delivered for me on all accounts both personally and professionally. Dubai’s ego is driven by its ambition to lead with

Q: With 15 years of experience in real estate in Dubai, what is your outlook on the evolution of the real estate industry?

What are the challenges and the opportunities in this sector?

Since I have worked in the industry prior to the introduction of foreign property ownership in 2002, I have witnessed many changes to all aspects of the business. Controls in the market are continuing to be introduced and developed as the industry is learning and growing.

Further legislation and tightening of real estate practices is creating a platform for a healthier and respected future for all stake holders in the industry. The initial success of earlier developments has

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Intelligent SME

Entrepreneur in Focus

fuelled more and more ambitious projects unimaginable in other parts of the world. Supply and demand continue to grow at a steady rate giving residents and investors access to some of the most breath taking real estate projects in the world. This is a market that other cities can only dream about.

Q: Being a young women entrepreneur, what message would you like to convey to the budding entrepreneurs and start-up businesses?

Real Estate could be perceived as a man’s world and as a women in business, we need greater strength, determination and perseverance to succeed. I do believe success in any business comes from having confidence and professionalism and many long hours of hard work.

Work ethics and respect for your customers and workers is a must.

As a start- up you need to grasp every opportunity and look outside the obvious. If you start with the right grounding the success will build its self. You need to build your business with passion for your product and belief in your brand.

Q: Was Links Gulf Real Estate similar to Exclusive Links?

What was the idea between this mergers?

The story of this merger has resulted in one of the leading real estate companies in Dubai.

Both companies were running successfully and independently, healthy and strong in their own right and an opportunity was realised with no conflict of interest or opinion. I and my business partner, Louise Heatley, shared a similar management style and the vision of a better industry. The two companies blended naturally and have grown from strength to strength as Exclusive Links Real Estate.

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If you start with the right grounding the success will build its self. You need to build your business with passion for your product and belief in your brand

Q: What are your views on

delivering affordable housing options in Dubai?

I believe the lack of affordable housing across all areas of Dubai is not only causing great concern but is indeed now forcing tenants to consider living in neighboring emirates. Dubai has a young profile and needs to cater more for the budget conscious resident and a large segment of the work force are being overlooked. Access to affordable housing is a basic human right and need and Dubai needs to close this gap before we

all lose sight of what the definition of ‘affordable’ actually is.

Q: What do you think about the World Expo 2020? What are the business opportunities that the Expo may facilitate the real estate sector?

Dubai hosting Expo 2020 will be a major catalyst for development across all industries. This will increase demand for talent and skilled workers to join the UAE work force creating opportunities for new residents and positively affecting the residential property market.

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Intelligent SME

Storage & Moving solved with Box ME

W

hen Wadih Haddad, Founder and CEO, The Box Self Storage Services established The Box Self Storage in 2006, the idea of self-storage was not common in the Middle East. After overcoming numerous economic challenges, providing consumers and small businesses a safe place for their belongings proved to be a wise investment.

It was The Box’s tailored offerings and the drive to satisfy their clientele that has helped build a wide consumer base, spanning across the Middle East, from Dubai to Beirut and even Qatar.

Today, The Box Self Storage is a Dubai SME 100 company, having responded to the fundamental need of the consumer with an innovative retail business model. Its fundamentally practical model has enabled the discovery of various other opportunities such as the Black Box, which offers secure storage of documents and records management.

The Box has diversified its growth platform to openly embrace and incubate start-up companies.

Wadih, who was selected by the Endevour Global Selection panel has garnered several awards over the years and frequently imparts his expertise by offering entrepreneurs bespoke business mentoring.

Wadih is involved in the Entrepreneurs’ Organization program, which acts as a catalyst enabling first-stage entrepreneurs to catapult their businesses to the next level. Wadih’s passion is palpable and infectious, as he goes on to say, We will continue our journey and fulfil our mission, and like I always say, this is only the beginning!

We will keep working together as a close-knit team to ensure and achieve absolute customer satisfaction.

Wadih’s success has been attributed to his humble and inquisitive investment in his staff and their working environment. He believes in people above profits. The Box team members are empowered to take decisions and encouraged not to fear making mistakes.

This philosophy builds the confidence in each and every employee and is multiplied across the organization resulting in an ecosystem of prolific entrepreneurs.

With regards to growth, The Box believes that its strong foothold in the UAE is a stepping-stone to extend its reach in the GCC and Levant region through franchises and/or investing in their own infrastructure.

Being a Dubai SME 100 company, The Box will continue to strive and outgrow its position in the ranks across all 5 categories – People Development, International Orientation, Growth Performance, Corporate Governance and Financial soundness.

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Intelligent SME

Insuring the Future

Critical illness cover vital for business owners For any business owner- in particular owners of SME’s- their share in the business is likely to be their biggest financial asset. A key employee can be anyone whose critical illness or death would have a major impact on business continuity.

So it is important to protect it for the benefit of their family, business partners, shareholders and to ensure continuation.

A

ll businesses have employees that are key to their success and profitability, and most would be adversely affected if one of these people were to suffer a critical illness or die.

A key employee is anyone whose critical illness or death would have a major impact on the business’s continuity, its financial status and future profits; they do not necessarily need to be a significant shareholder.

Some of the major problems associated with the critical illness or death of a key employee include loss of sales, loss of confidence in the business, loss of competitive edge, failure to deliver on major projects and withdrawal of credit facilities.

In addition there can be unnecessary strain on colleagues as well as recruitment and retraining costs. In some cases, it could lead to the business becoming insolvent.

According to the World Health Organisation, 9,700 people died in the UAE between 2000 and 2012. Two thirds of these deaths were due to three main causes – Cardiovascular Disease (30%), Accident and Injuries (23%) and Cancer (13%). The Dubai Health Authority announced in 2011 that cardiovascular disease was the leading cause of death in the Emirate, with one in every five deaths attributable to cardiovascular diseases.

While these deaths were no doubt devastating for the families involved, the critical illness or death of a key employee could have wider implications for a business. It could affect its ability to obtain

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In some cases, it could lead to the business becoming insolvent

finance and impact commercial loans, directors’ loan accounts and any personal guarantees the key employee has given on behalf of the business.

For any business owner- in particular owners of SME’s- their share in the business is likely to be their biggest financial asset. As a result, they need to take steps to protect it for the benefit of their family and for the benefit of their partners, directors and other major shareholders, to ensure the continuation of the business.

Business protection plans, based on a suitable legal arrangement, can provide a simple way to protect the interests of everyone connected with a business.

“Business owners tend to insure the things they consider vital to keep their businesses running in the event of a disaster. What we find though is that their greatest asset – their people – is overlooked when it comes to protection planning. For example, while most companies have insurance for their office building and their office equipment, they have no cover against the critical illness or death of their key employees, directors, partners or major shareholders.

Businesses need to be more aware of the implications and the potential risks of not covering their key personnel,” said Marcus Gent, Managing Director Middle East and Rest of the World at Friends Provident International.

The plan most often used to provide life cover for businesses is Term Assurance, the duration of which can be tailored to the individual key person scenario.

For example, if the key person is a project leader it should be possible to identify how long they will remain in their role, and a policy effected for that length of time.

For other types of employee it may not be easy to identify how long they are likely to remain fundamental to the continued success and profitability of the business; and they may not stay in

Business owners tend to insure the things they consider vital to keep their businesses running in the event of a disaster.

What we find though is that their greatest asset – their people – is overlooked when it comes to protection planning

the same position for a long period of time as assistants, successors, or other experts may join the business to share their responsibilities.

“The Middle East is home to some of the most entrepreneurial and technologically advanced businesses in the world, but in our experience few recognise the problems that could arise following the death or critical illness of a key member of their organisation. Term Assurance is an inexpensive plan, that when set up appropriately can help them mitigate the impact of the death or critical illness of someone key to their business” said James Panton, Unlimited Underwriter and Regional Technical Development Manager at Friends Provident International.

“I’ve heard of a situation in the UK some years ago involving an IT company, where one of partners - the technical expert behind the success of the partnership - died.

Unfortunately there were few business assets to liquidate to pay

Intelligent SME

Insuring the Future

the deceased partner’s family – who did not want to be involved with running the business – for his share of the business. The bank was not willing to make a loan to the remaining partners as they did not see the business as viable without the technical expert. The business was eventually forced to wind up, meaning that everyone lost – the business owners, their employees and the family of the deceased partner.

Had the company put a suitable business protection plan in place, this sad situation could have been avoided. The business would have been compensated for the loss of the key employee and could have used the funds to pay his family for his share of the business, and to recruit a replacement, enabling the business to continue.”

Business protection in the form of life insurance can help enterprises protect themselves against the problems arising from the critical illness or death of a key employee, and ensure the business is able to continue. Such life insurance plans are relatively simple to effect- and are a costeffective way for a business to safeguard its future.

Marcus Gent - Managing Director of Middle East & Rest of The World of Friends Provident International Limited Marcus Gent is a qualified actuary, and joined Friends Life in November 2010, where he was responsible for the strategy, marketing and commercial functions for Friends Life's corporate benefits business unit. He moved to Dubai in his current role in July 2014.

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October - November 2015

Intelligent SME

Sales Management

Create a winning sales strategy

Sales skills should be carefully crafted for any business since it is an important tool to generate revenue. A strong sales strategy is vital for successful business growth. Become a great salesperson and generate more revenue for your business.

44 www.intelligentsme.com

F

or any business it is important to know the best structure in terms of your sale. Please understand, structuring the sale of your business can be really complicated and has many different considerations you need to weigh. So, make sure you get good legal advice for making decisions and gaining profits in your business.

Valuation: Obviously, the first thing the parties need to agree

on is the valuation of the business. As you remember, we discussed How to Value your Start-ups back in Lesson #32. So, I won't go into too much more detail that that, as the valuation principles are largely the same, whether you are doing a venture financing or selling the business outright. So, please re-read that old lesson for details here. The only thing worth mentioning is strategic buyers will place different valuations on your business than a financial buyer will, depending on how important your business is to them (e.g. taking out a key

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Intelligent SME

An asset deal is when the buyer only acquires the key assets of the business

Sales Management

Cash Now or Seller Note:

Of course, getting 100% of your cash upfront is your most desirable outcome. That said, you as the seller may want to get additional performance-based upside, in the form of an earn-out, which we will discuss below. And, certain buyers feel more comfortable when the seller still has a little "skin" in the game, not taking all your chips off the table day one. And, in other scenarios, the buyer may not have 100% of the cash to fund the business day one, and may ask to pay 50% now, and 50% over the next year or two in the form of an interest-bearing Seller Note to you.

This is particularly true for smaller businesses with limited capital.

So, like negotiating valuation, you need to negotiate the timing of the payments, based on what works best for both parties and the circumstances at hand.

Earn-outs:

competitor, or simply adding a minor product line), and whether you are filling a near team hole for them or bringing them a long term revenue pipeline and growth vehicle. So, you can only negotiate as hard, as you think you are important to their business.

Equity or Asset Deal:

An equity deal is when the

buyer takes over 100% of your cawal stock, and all the related assets and liabilities of the business. An asset deal is when the buyer only acquires the key assets of the business (and whatever

specific liabilities they are willing to take on, like current accounts payable). For the most part, buyers of start-ups are looking to do asset deals. It helps lower their downside risk of not knowing what skeletons are in your closet to creep up and bite them on the butt. So, that means, asset deals will be the most likely requested scenario from your prospective buyer, which is fine.

Provided you understand you will need to resolve all open liabilities not taken by the buyer with any proceeds you get from the sale, which are hopefully enough to cover them.

Earn-outs are mechanisms to get the seller additional cash payments over time, based on hitting some present performance metrics. These are great for sellers that feel "the best is yet to come", but still need to sell for other liquidity-driven reasons. The timing of earnout can be whatever you want: my iExplore sale was 18 months (very typical) and my Media Recall deal was seven years (very a typical). Buyers typically don't like earn outs that last too long, since they want to fully control the business operations, and won't want to tinker with the business, and risk a lawsuit from the seller, in the middle of the earn-out period. And, although sellers like the upside opportunities from earn-outs, earnouts are very difficult to contract in a way that doesn't leave the buyer with loopholes to manipulate the pay-out calculation.

As an example, a seller will want revenue-driven earn-outs (to keep it clean and simple), but the buyer won't like that, since you can

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Intelligent SME

Sales Management

load up expenses/losses to drive revenues. And, on the flip side, the buyer will want profit-driven earnouts (which you won't want, as buyer can push down corporate overhead expenses to manipulate your profits to levels the earn-out would not be paid). In addition, it is preferable to having any revenues coming from promotional support by the buyer, help to credit your earnings and earn-out as the seller (which the buyers may or may not be willing to do, since they are the ones helping to increase your earnings--and hence their cash pay-outs to you for the business). So, it is a very delicate dance to negotiate a happy middle ground that works for both parties and still has a lot of "teeth" both ways.

Net Working Capital at Closing:

Net working capital is your current assets less your current

It is always good to get egal advice for making decisions and gaining profits in your business liabilities. The buyer will typically ask for the seller to deliver the business with a historically average level of working capital at closing. So, as an example, if your average net working capital is $50K, they will want the business delivered with $50K of net working capital. Any more than that, and the sellers keep the overage as additional sale proceeds. Any less than that, and the seller needs to fund it to the buyer, to catch them up. This item by itself is a big negotiating point, especially since the balance sheet used for such calculations (and related auditing of the sub-accounts that comprise it), are usually prepared and calculated within the first

30 days after closing the sale, allowing opportunities for the buyer to manipulate the numbers in between the closing date and the calculation date. So, be careful in constructing language that is fair and protects you here, so you are not going out of pocket to make up for any shortfalls.

Representations & Warranties:

Representations and warranties are basically the seller's guarantee to the buyer that what they have communicated to the seller in terms of the assets and revenues of the business is accurate, and the fact the seller is willing to back it up in writing. So, in the event the buyer ever uncovers anything as

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October - November 2015

Intelligent SME

Sales Management

inaccurate (and, in essence, had them buy the business under false pretences), the buyer can come after the selling shareholders for a refund of such amount. Now, typically there is a minimum basket set aside to cover minor things (e.g., no refunds for first $100K of issues). But, after that, they can get any monies paid to seller refunded to them, in a like amount (e.g., $500K unknown issue, means $400K refund to the buyer after the $100K basket is used up).

These warranties typically have a 12-18 month life before they expire.

So, a couple of important things here. First, shoot to have any indemnifications provided by the selling shareholders as "limited to your own personal stake" in the business, not to be jointly and severally liable, having to cover the liabilities of your other selling shareholders, if they do not have

the funds to refund their portion of the monies. Buyers will firmly try to negotiate otherwise, to maximize their protection. Secondly, because of this issue (the risk of refunding monies), I would suggest holding 100% of all monies paid for the business, in an interest-bearing escrow fund, not to be distributed to individual shareholders until the warranty period expires, and there is no risk of refunds. That ensures every shareholder's cash will be there, when and if you need to refund it. That said, it will be a pain to you, if liquidity was the primary reason for selling the business. So, weigh your pros and cons here, before distributing any cash. Sometimes you can purchase indemnification insurance to cover items like this, allowing distribution of cash. But, insurance companies hate it, and it is very expensive and often not worth it compared to the escrow option.

Once again, this was intended to be a very high level tutorial on a very complex topic that only a seasoned M&A lawyer should help you with.

But, hopefully, it presented some key issues to consider, so you are smarter in negotiating your sale, when that time comes.

George Deeb is a Managing Partner at Chicago-based Red Rocket Ventures, a growth consulting, executive coaching, shared executive and financial advisory firm based in Chicago.

October - November 2015

Intelligent SME

Women Empowerment

Helping women entreprenuers succeed

Nadine Halabi, Business Development Manager at Dubai Business Women Council tells Intelligent SME, how DBWC is a diverse networking platform. It connects and trains young and budding women entrepreneurs through seminars and workshops and open doors for new business opportunities.

Q: From classroom to an office manager, how has your journey been so far?

My career has undergone a lot of changes, all of which witnessed a lot of challenges and hurdles. I never saw myself confined within the parameters of a classroom or an office because I always believed I could do more. My role at the DBWC still encompasses education, as the workshops I arrange for our members are all about adding value, educating them and helping them make a difference. It also requires some precise office and team management which I was lucky to develop over the years through the mentorship of some of the greatest people that I have been privileged to work with, and that namely includes Dr Raja Al Gurg at the top of the list.

Q: What is Dubai Women Council all about and how does it empower women entrepreneurs?

Since its establishment in 2002 under the Presidency and direction of HE Dr. Raja Easa Saleh Al Gurg, the Council has opened its doors for membership to local and expatriate business women, to business owners and executives in Dubai and across the UAE and the region. Its objective

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Intelligent SME

My goal is to develop the DBWC further and have it touch new heights.

is to provide its members with the right opportunities to develop and enhance their business enterprises by granting them access to a range of B2B tools and useful database.

The DBWC hosts its monthly Network Majlis, which offers its members a business related workshop or training session that could them learn a new skill or build on a certain area of expertise.

We have covered many topics and have done some quite interesting workshops and training sessions throughout these Majlises and over the years, all of which are conducted by professional and successful speakers from reputable organizations, both locally and internationally

Q: Is it open to all or only to the Emirati women?

It is open to Emirati and Expatriate women

Q: What type of events and workshops are organised

by DBWC? Our workshops or training sessions are business oriented. We are very selective with the topics of these sessions because it is our priority to ensure that the members learn new skills or master existing ones that can help them become better business women or perhaps ignite their desire of plunging into entrepreneurship.

So far we have covered topics such as Time Management, Emotional Intelligence, Soft Skills, Mental Toughness, Social Media Workshops, and many more. A list of our previous sessions as well as our upcoming events can be viewed here: http://www.dbwc.ae/event/event_

display

Q: What is the vision and the objectives this organisation works towards?

The Council’s objectives is: To provide its members with

extensive and diverse networking platforms through exposing them to business related events and conferences that are taking place in Dubai, throughout the UAE and across the region.

To empower its members through our extensive monthly training sessions, seminars and workshops which take place at no cost for registered DBWC Members To connect the members with other members whether they are here in Dubai or in other parts of the world and pave the way for possible business opportunities and partnerships that could possibly develop

Q: What role do you play at DBWC and how long you have been associated with this organisation?

I am the Business Development Manager of the Dubai Business Women Council. I first joined the Council in August 2011 and have since then, been managing the overall operations of the exclusive council, coordinating the high profile board members, its stakeholders and members in line with the values, visions and missions as set out by its President, Dr. Raja Al Gurg.

Q: With your expertise in human resources, administration, project management, public relations, event management and Business CRM, what is the next goal in your life?

My goal is to develop the DBWC further and have it reach its highest heights. As the official organization that represents the business women community of Dubai, there is so much potential to develop the council and make it reach an International level, which is already happening thanks to the tremendous support and dedication of its President, Dr. Al Gurg and her Board Members.

Women Empowerment

Q: What message would you would like to convey to the budding women entrepreneurs on behalf of DBWC? Over the years, we have found that women in Dubai want to venture into starting up their own businesses, but what keeps them from doing so are several factors which include: lack of confidence, insufficient knowledge about the fundamentals of starting up a business and access to capital

What would help encourage women to embark on an entrepreneurial journey and set up their own business is to have an organization or a platform that can provide them with the knowledge, the network and in some cases, the funding to do so. The DBWC is a platform that can help these business women develop their skills, meet likeminded business women and perhaps develop solid partnerships. It is a non-profit organization that offers so much value to its members and I would encourage every working woman I know who wishes to enhance and develop her skills to become a part of this great network.

Q: How are SMEs enabled and empowered through DBWC? The DBWC advocates and nurtures local women and young entrepreneurs new to the world of business, or who are putting their first foot forward in today’s exciting economy. We do this by identifying key issues, providing information, pooling resources, encouraging leadership and advocating responsible action to address the well-being of women as entrepreneurs and in the workforce. We further strengthen the bond amongst business and professional women in Dubai as we are building a superior networking platform for women to expand and improve opportunities for growth through the exchange of knowledge and expertise.

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Intelligent SME

Managed print services lowers SME costs Today the printing environment has become increasingly complex for the SME community.

Managed Print Services (MPS) and document management practices have emerged as a key solution for the SME community which helps them across diverse verticals to focus on their core business.

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W

ith the changing priorities forced upon many in the SME community by the financial downturn, it has become apparent that those who have not invested in solutions, and in particular their printing infrastructure along with document management, will have paid a heavy price.

Today the small and medium sized enterprises are savvy and they have to be. While these enterprises may be more ambitious and determined than before, they are still operating with restrictions of cash flow, available capital and human resources and are constantly seeking ‘smarter’ ways to add value to their business efficiency and overall productivity.

In recent years, Managed Print Services (MPS) and document management practices have emerged as a key solution for the SME community. These services are

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Intelligent SME

Going Digital

currently at the tipping point of evolving beyond the core service of device consolidation, and are steadily moving towards ‘smart’, value-added business efficiencies within paper-dependent processes.

Consistently recognized as a proven approach for reducing costs, improving work flow and productivity, MPS helps small and medium sized enterprises across diverse verticals to focus on their core business.

When to consider an intervention?

Today the printing environment has become increasingly complex for the SME community. A recent study conducted by CoreData with 1,000 SMEs found printing issues were among the top office frustrations. About 37 percent said that they regularly waste time on printer-related issues and over 50 percent said they spend more than half an hour a week resolving these issues.

Lowered productivity for organizations is just one unhealthy side effect of a mismanaged office print environment. In fact, industry estimates also suggest that many small and medium size businesses spend between one and six percent of their annual revenues on printing. According to Gartner, most organizations could cut their printing costs by 10-30 percent. The potential for savings is huge. Most SMEs, however, are not aware of how much they spend on printing. It is often categorized as an unknown cost yet it can be a hugely significant one.

They often reckon that the tools needed to manage the range of printing devices and ensure high performance, smoother work flow and security required for seamless functioning of the business require specialist IT skills.

This is where they need to be informed about MPS and how a solid and ‘smart’ approach to MPS can help companies to shift their focus from cost to value and help increase employee productivity and

Managed Print Services and document management practices have emerged as a key solution for the SME community make businesses run more effectively.

Use MPS to unlock your company’s potential

MPS is no longer the domain of large enterprises or corporations; it is being increasingly advocated and implemented by smaller and medium sized businesses in the Middle East region.

For small and medium sized businesses, one of the main reasons cited for the adoption of MPS is that many of the mundane but critical print management tasks are taken care of by a service provider (third party). This, in turn, enables their staff to focus on the core business.

The long-term benefits of MPS implementation are far-reaching for most SMEs. These businesses can typically cut down costs as this approach offers visibility into their printing process, enabling the organization to monitor the overall number of prints and revealing where volumes are high, while making necessary adjustments as and when required. This service also allows SMEs to plan their expenditure more effectively. SMEs can drive up productivity levels and benefit from access to the latest print technologies, which will not only reduce their carbon footprint, but also contribute to a more secure print environment and above all, save money for the organization.

What’s ‘Next’?

Implementing MPS solutions in small and medium sized enterprises is by no means the end; it is just the beginning of a journey for these enterprises to improve their overall productivity and revenue.

Currently the trend is moving

towards a digitalised, less paper environment among the SMEs. Now, more than ever, workflow automation is a necessity for SMEs, especially while dealing with continuous document workflows within/between departments, document life cycle and storage management, partial or full processing of paper forms etc. Industry leaders have already started offering the Next Generation MPS Strategy that can further enable the SME community to improve their businesses processes and be more successful.

The long-term vision for the SME community in the Middle East should be moving towards a completely digitalised environment in the coming years. To sum up, this strategy is all about working smarter, helping the SME community connect with their clients better and bridging the digital and paper universes to help them better understand, protect and use information more intelligently.

Simon Howells joined Xerox in 2003 and currently is the MPS Manager for Xerox MEA Global Document Outsourcing arm based in the UAE. His primary role is to expand the company’s Managed Print Services division to address the needs of all businesses in the Middle East including the partners across each country in the region selling Xerox Partner Print Services.

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Intelligent SME

Beyond Leagalese

The legal eagle explains Q: How long have you been practicing law in Dubai, UAE? Share with us some of your milestones cases?

I am working in Dubai since more than 10 years, having more than 15 years of experience in the legal field, the last six years of which I extensively involved in real estate disputes, I worked as a head of legal for a renowned real estate developer in Dubai for about two years, then I have joined Prestige Advocates and Legal Consultants as the head of legal consultancy department where I am mostly practicing real estate and corporate laws. Then I become the Founder and Managing Director for Abdulla Al Suwaidi Advocates & Legal Consultants located in Business Bay, Dubai.

Q: Why did you aspire to become a lawyer?

To begin with, I thank God for making me a Lawyer for my belief that this profession is noble, its work is fidelity and its objective is to achieve justice, save rights and drive justice.

Q: Do you think it is easy to practice law under the UAE jurisdiction given its stringent policies? What is your outlook on judgments of the Dubai Courts? Are they qualitative or just quantitative?

Aws M. Younis, Managing Director-Founder, Abdulla Al Suwaidi Advocates shares his inspirational journey as a lawyer and his work which is his fidelity and his objective is to achieve justice, save rights and deliver justice.

52 www.intelligentsme.com

I do not find myself constrained to practice my profession as a lawyer in the UAE, but the great diversity of nationalities here has given us an opportunity to gain new experiences and learn the laws of other countries, made us look in and make comparisons,

October - November 2015

Intelligent SME

Beyond Leagalese

which led to the expansion of our legal perceptions, benefit from the experiences of others countries and avoid their mistakes in the enactment of laws and the drafting of provisions and articles. The commercial activity in the Emirate of Dubai in particular has urged us to elaborate all the global and local business laws. The most important trade laws, corporate laws, maritime trade laws, land, sea and air transport laws, which earned us expertise on the needs of traders, earned us the experience of how to protect them from losses in the Platform for their work and the ability to protect them and the ability to protect them from fraudsters as we also specialized in international arbitration cases.

Q: Do you get inspired from the judgments of prominent constitutional courts in the world? How?

I always believe that the judicial judgment is the title of right and justice, and we do not discuss in that, however, I also adheres to rule that the lawyer is the stand Judge though the Judgment is sentenced by the seated Judge which has the authority of judicial ruling, in the sense that to recognize judgment of the courts, whatever the outcome, even was for the benefit of our Principal or against him, and resort to appeal judgments which contained formal or legal violation to the Supreme court by means set by procedure Code, however, recognizing operative Judgments do not prevent from expressing our humble legal opinion if we had a dissenting point of view or legal opinion, as one of the rich sources of law in diligence, I do not hide how much we enjoy our work in our office when pant behind diligence which adds to the legal thought in the state not to

surrender to what are stable only.

Q: Law has become a money making profession across the globe and it is no more like a service to mankind. Please shed some light on these issues.

I do not believe that a particular profession achieve high income to the professional, as people when come across a doctor they say that his work would bring him high income as well as a lawyer, an engineer and the merchant employer, but I think that income depends on the help of God firstly, of course, but then it depends on the person himself. I mean that a person can be with high incomes, regardless of his profession was either a lawyer, a doctor, an engineer or a dealer, for example, how many of a bus driver began his career with a small monthly salary

October - November 2015

Intelligent SME

Beyond Leagalese

Q: What is your expertise and area of practice?

as an employee and then became the owner of a bus fleet.

My humble opinion is that man in every phase of his life should determine his goal and what he must reached both in terms of income and in terms of his career and social status and everything related to the affairs of his life. But determining his goal only is not enough, he must sought to it by finding but even by creating ways and means that will enable him to achieve the goal.

Q: What is your advice for

the young budding lawyers?

What is the key of success in the legal profession? What are your thought on the legal education in the UAE?

I advice my young fellows through what I have learned from my teachers and through my experience with the following: • Respect your work as a Lawyer as your profession is one of the highest and most prestigious professions to impose your respect to others.

• Keep on the principles of the legal profession to continue the dignity and progression of this profession as we have inherited from our ancestors, our.

• Do not seek from behind your business as a lawyer to just

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I do not find myself constrained to practice my profession as a lawyer in the UAE, but the great diversity of nationalities here has given us an opportunity to gain new experiences and learn the laws of other countries

•

•

make money, not make it the only goal but also try to be a successful lawyer proficient for his work worthy of the confidence of his clients and then money will come to you as you like.

After gaining experience, deal with each case assigned to you as you are looking in its subject matter for the first time to give this case its right from your knowledge and effort.

Put the right of your Principal a trust around your neck.

Qualified Legal Consultant, practicing Corporate, Real Estate, commercial and Banking, Civil Law, works for seven years with an international Law Firm in Dubai and Baghdad seeks suitable opening in legal firm, or as - in house - Legal Consultant in an international company, to broaden up the knowhow and utilize the expertise gained through past legal experience and chamber work in the Oil and Gas field, real estate and companies law while working with reputed legal firms and representing multinational and leading corporate companies as clients. Possess legal consulting, writing-drafting legal documents and client coordination skills.

Q: What type of legal aid does Abdulla Al Suwaidi Advocates cater to? How big is the team and what services does the firm offer to its clients?

From the smallest requests to the largest disputes, Abdulla Al Suwaidi Advocates caters to all your legal needs. We provide you with multiple solutions to each of your conflicts. As a newly establish legal firm in Dubai we wish to introduce our team and our services. Our team of lawyers consist of more than 10 Lawyers has been operating through the legal sector in the UAE for over 10 years and in the Middle East for over 20 years. With years of resolving clients’ issues in the region, we make the UAE law work in your favour. We are working the field of Commercial Laws, Property and Real Estate Laws, Labour Laws & Employment disputes, Litigation and Arbitration, Civil disputes, banking and Finance Criminal laws, Company Formations & Incorporations, Constructions laws disputes between Employer and Contractor, Civil Status Law & Will Formatting, Debt Recovery.

October - November 2015

Intelligent SME

Accountancy

Outsource your CFO One of the weakest point of SMEs is to have good book keeping and proper accounts tallied for smooth functioning of the business. Therefore to have better and easy understanding of your finances and to run your business in long run, get your accounts checked with the trusted and the most reputed company-Emirates Chartered Accountants Group.

Q: What is Emirates Chartered Accountants Group all about?

What is the importance of ‘IECNet’ for an accounting based company? Is your company ISO certified?

Emirates Chartered Accountants Group is an International firm of Chartered Accountants’ with Dubai, U.A.E. as its head quarters.

The firm provides professional services in the areas of Accounting, Auditing and Management & Financial Consultancy. The inception of the firm was in the year 2005 promoted by a team of professionals from Chartered Accountancy profession and Business Management consultancy.

It is an ISO (9001-2008) certified firm.

The Group’s entities include; a. Emirates Chartered Accountants b. IEC Emirates Chartered Accountants c. United Auditing & d. Emirates Accounts Services UK. We are member in IECNet, an International Network of Auditors, Accountants and Tax Professionals, having partners in more than 50 countries. The affiliation to IECNet helped us break the geographical and statutory barriers and thereby serve our clients internationally.

This has widened our scope of services and its quality through

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Intelligent SME

Accountancy

mutual exchange of knowledge and skills with our international partners.

Q: What are the company’s

core values and philosophy?

What services do you offer to SMEs?

We believe that the business relationships and values far exceed the monetary considerations that are exchanged in every transaction.

As you may have already noticed, Emirates Chartered Accountants Group, as a team, carry everywhere the caption ‘More than figures...’ while serving the client. This is what we believe and ensure. We adhere to the value additions we offer to our clients in the form of satisfaction, reliability and trust which they can expect every time they enter our doors. We have set our philosophy to be consistent in serving our esteemed clients and guarantee to deliver excellent services with high professionalism and execute such services judiciously and punctually. Further we assure to keep the discipline and timeliness at every stage of the services and to ensure that service remains always worthy of its cost.

We offer a wide range of Corporate and professional services including Company Formation, Incorporation of other business entities, Business and Financial Advisory, Statutory & Internal Audits, Business Valuation, Corporate Finance, Management accounting, etc.

Q: How strong is your

presence in the SME sector?

SMEs cover a major portion of our clientele list and we have more than a decade’s experience in this sector. We have seen the tremendous growth of this segment and its evolvement into what it is today. At the same time we were able to adapt, reform and adhere ourselves to the dynamic changes in the economy of this country in order to optimize our services.

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This enabled Emirates Chartered Accountants Group to accomplish a considerable reputation among the SME companies in this sector.

Q: What is the importance of CFO Services to SME in UAE?

For a couple of years from the date of inception of the firm, our main services were Auditing and Management Accounting services.

Later we extended our services to Financial Advisory and CFO Services since we noticed that the growth oriented SME entrepreneurs badly need those services to reach the next level of their business progress. It became necessary for them to explore new opportunities in the growing industry and to manage the entire operations of the organization, proper guidance from an expert in finance became imperative. Moreover because off the high costs involved, it is not possible for every SME to hire a full time experienced finance professional. It is at this point the importance of outsourcing of CFO services come into being.

Apart from the cost factor, another advantage of hiring the CFO Service from a firm like ours is to obtain good professional advice for each and every single issue that arises.

Q: Shed some light on the reach Emirates Chartered Accountants Group has managed to accomplish all over the world?

Emirates Chartered Accountants started its journey by a group of friends’ way back in 2005 in Dubai.

Now the members in the family crossed 50 and have offices in other three Emirates in UAE and one in London serving more than 1,000 clients. Being a member in IECNet which is ranked as 20th position in the world ranking of Accountants and Auditors, we have a significant global presence which enables us to serve clients internationally.

Q: How important is

accounting requirements for SMEs? What recommendations and good practices do Emirates Chartered Accountants Group offers them?

The SME sector in the UAE comprises of a number of small scale investors who have the resources to efficiently conduct their operations but fall short of maintaining proper records of transactions which enable an easy understanding and reporting of the history of the business and to make future plan of the business, which is necessary for the success of any organization. We find many enterprises conducting transactions in millions, but have no proper trail of where the money has come from and where it has gone to. In such cases, accounting is crucial, although not obligatory.

We encourage our clients to incorporate a sound ERP system or various accounting programs which can be used to electronically maintain the accounts of the organisation. These software’s are developed in order to facilitate easy reporting and automating the business process. This is one of our main services that we provide at Emirates Chartered Accountants Group, where we recommend the best software with respect to the clients business and upon their request, assign one of our staff to supervise the daily accounting function.

Q: What is Company

Incorporation and how Emirates Chartered Accountants is involved in this process?

To put it in simple words, Company formation is incorporating a Company to carry out business.

The process of company formation is an onerous task requiring adherence to various regulations, procedures and

October - November 2015

Intelligent SME

Accountancy

documentations, not to mention financial resources requirement.

Emirates Chartered Accountants Group works towards easing the burden of the regulations and procedures involved in company formation and allow prospective entrepreneurs to successfully kickstart their business venture at a minimum cost. Once the decision to

to fulfil our obligation to the very society we work amongst.

Every year we conduct the Blood Donation Camp on Chartered Accountants’ Day, i.e. 1st July of every year. This year the CA day was during the holy month of Ramadan wherein the hospitals in UAE have higher demand for blood because of shortage of

developed countries, annual audits are not a mandatory obligation for most of the organizations in the UAE. As such proper system of controls helps to oversee the daily processes and functions of an organisation which can provide assistance to the entrepreneurs and shareholders to understand whether their funds and resources are prudently and effectively utilised.

Internal audit can help a lot in ensuring that a business entity is moving in the right direction and the work flow of a business is carried out in an efficient and transparent manner and helps the management to fill gaps, if any, to sustain the business.

Q: Growth in economy fuels in the growth of auditors in UAE? Explain.

make the investment is taken, the most important thing to be looked into is the legal structure of the organization. The decision whether the organization has to be under Free Zone or Offshore or Main Land depends upon the nature of the activity and future plan of the investor. Our dedicated team in the Emirates Chartered Accountants Group evaluate diligently the need of the investor and the future plan for providing proper guidance on a long term perspective.

donors. Emirates Business Elite is another platform we created for serving the society by conducting awareness programs for different group of individuals and corporate.

In addition, Emirates Chartered Accountants Group has its own Toastmasters club with our employees being active members along with other participants with an aim to improve their communication and leadership skills and mould them into the managers and leaders of tomorrow.

Q: How Emirates Chartered

Q: Why there is a need for

We are firm believers in the Iron Law of Responsibility. This is reflected in the efforts we take

Unlike in US, Europe and other

Accountants Group contributes to the CSR activities?

internal auditing system? How to implement an effective internal control system for SME businesses?

UAE especially Dubai has become one of the highly sought after countries for the investors and entrepreneurs and also for the job seekers. The taxfree economy has tremendously enhanced the standard of living of the people, created employment opportunities and commercial prospects in the past two decades.

Winning the opportunity of hosting the prestigious International Expo 2020, the country has added another feather to its already booming economy and is likely to augment its growth further.

This has paved way for the need of more qualified individuals in the sector. Need of professionals who have the perception and ability to comprehend, how to lead an enterprise and to assist in improving the returns for the investors have also fuelled the opportunities of accountancy professionals in the sector.

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October - November 2015

Intelligent SME

Marketing

Position is Power O

People today are looking for other people who they can trust and feel connected. They want to feel that you have something that they either won’t find anywhere else or don’t want to look for anywhere else because they want to do business only with you. So how to unlock your own expertise so that others value what you do?

58 www.intelligentsme.com

ne of the most common questions we are asked in both business and social settings is, “So, what do you do?” Answering this question well depends on your ability to quickly assess the situation and the person you are addressing. For your response to have the right impact, it should be framed in such a way that it suits the audience, the situation and the energy levels in the room. It must also quickly and succinctly highlight your expertise in a way that ensures your audience (whether it be an audience of one or many) understands and, most importantly, values it.

Imagine this scenario. You’re at a high profile business function and there are a couple of influential decision makers in the room that you are keen to meet. Your plan is to sow the seed that could potentially develop into a business meeting some time in the future. You know that first impressions count and you’re pumped and ready to make an impact. But the moment you are introduced and asked what you do, you fall back on the same old ‘elevator pitch’ you use for everyone you meet.

Would you have made an impact?

Probably not.

Never has it been more important to showcase your expertise in a way that connects and sets you apart from the rest. Why? Because times have changed.

Your customers are bombarded each and every day with alternatives and claims.

Demonstrating your expertise has become the new competitive advantage and it is increasingly challenging to stand out in a world that is wired 24/7. People today are looking for other people they feel a connection with and who they can trust.

They want to feel that you understand them and that you have something (or an idea) they either won’t find anywhere else or don’t want to look for anywhere else because they want to do business with you. So how do you become known in the marketplace as the authority in your space? The key is to connect, inspire and influence rather than ‘sell’ yourself and your ideas. This is true no matter what

October - November 2015

Intelligent SME

Marketing

industry you are a part of or where in the world you operate.

Tips to position yourself so you get their attention Do your homework

Research as much as you can about the people who will be present in the room and their business interests. Pay particular attention to their business interests and their ‘pain points’ (their greatest challenges) so you know how best to present yourself and your ideas in a way that is likely to grab their attention.

Create interest

When a poet connects with an audience through a piece of writing, he or she is showing empathy towards that audience to the point where the audience can’t help but feel a sense of connection to the messages he or she is trying to convey. In essence this is what you should be aiming to do when presenting yourself and your ideas to someone.

Be flexible

Creativity, intelligence and purpose are the main things that are lacking from most introductions. Being flexible allows you to draw from a bank of wellrehearsed positioning scripts that cater to a variety of audiences and situations.

Understand the focus levels

Sometimes your focus will be on you, other times it will be on what you do and other times it will be more on them. So when do you use each type of focus? It depends on the situation. Generally speaking, if you’re at a social event, your address should be more

personal (about you), if you’re at a networking event, you should speak more about your idea and what you do and if you’re in a prospect’s boardroom or facing an employee, your focus should be mostly on them (the benefits what’s in it for them).

Make it clear that you are more than just another ‘expert’

When you visit a doctor you are confident that you are seeing a person who brings many years of study and experience in their field to the table. You entrust your personal wellbeing into their care because you recognise doctors as experts in their field. Indeed experts surround us in all facets of our lives. But to bring about true innovative change in any field, and more importantly, to commercialise your ideas, being a subject matter expert is only the beginning. The goal is to become known as the subject matter authority. What’s the difference?

As an expert, you know something.

But as an authority, you are known for knowing something. There is a distinct and important difference, especially when you consider that everyone is vying to be the best and claiming to be ‘the expert’.

idea or concept. Because it’s foreign to them, using an analogy (“It’s like…”) will help the person you’re speaking to make a connection.

Examples and case studies are especially useful to qualify what you’re talking about. For instance you might give an example of how you’ve helped someone else with your idea, focusing on the positive impact your idea had on that person and their business.

Highlight your point of difference

This is especially important when you’re pitching something that the masses are also doing.

Think outside the box when it comes to showcasing your uniqueness. For instance, if you’re a lawyer (amongst a mass of lawyers in your part of the world), think of something that stands you apart from the rest. Perhaps you can speak the local language in a country dominated by expats.

Or you specialise in a particular type of law that you know will be of interest to the person you are addressing.

In today’s competitive commercial landscape where every professional is looking to innovate, it really does pay to play the positioning game.

When speaking about yourself, let your passion shine As long as you’re directing your pitch to someone who’s interested, enthusiasm is contagious. Don’t just talk about what you do; talk about what lights you up, what you’re passionate about, what you believe in.

Use analogies and examples

Analogies are particularly useful when you’re introducing a new

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Rare & Fabulous WATCHES | YACHTS | DESIGNER | JEWELLERY | BOUTIQUE | REAL ESTATE | GADGETS | EXOTIC DESTINATIONS | FINE DINING

October - November 2015

Intelligent SME

Rare & Fabulous

Cayenne Turbo S - a rare fusion of exclusivity & speed

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he new Cayenne Turbo S has arrived and is now on display at Porsche Centre Dubai, Al Nabooda Automobiles LLC. The top model of the sporty SUV series features a re-engineered 4.8-liter V8 biturbo engine which delivers 570 hp and 800 Nm of torque. Accelerating from zero to 100 km/h in 4.1 seconds, the new Cayenne Turbo S is 0.4 seconds faster than its predecessor. Its top speed is now 284 km/h, with a responsive biturbo engine which is a result of the turbochargers now being housed directly in the exhaust manifolds. The highperformance engine also offers 20 hp more and 50 Nm more torque than the previous engine. All the performance improvements result

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in the Cayenne Turbo S completing a lap of the North Loop of the Nürburgring in 7:59.74 minutes, setting a new record for SUVs.

Underscoring its position as the top athlete in the range, the Cayenne Turbo S features standard Porsche Composite Ceramic Brakes (PCCB) which include 420 mm front brake discs and for the first time, ten-piston calipers. The rear brakes have 370 mm discs and four-piston calipers. The active roll stabilization system and Porsche Dynamic Chassis Control (PDCC) proactively reduces side tilt early on when driving through curves.

Porsche Torque Vectoring Plus (PTV Plus) increases dynamic handling and stability by making specific brake interventions at the right or left rear wheel – this noticeably improves steering into curves and steering precision.

The active hang-on all-wheel drive system Porsche Traction Management (PTM) permanently drives the rear wheels, while offering fully variable power distribution to the front wheels. All

these systems combined result in excellent driving dynamics, ample traction, as well as high level of agility at any speed.

Standard features of the Cayenne Turbo S reflect the top level status of this model.

They include 21-inch wheels in distinctive 911 Turbo design with black painted edges, LED headlights including Porsche Dynamic Light System Plus (PDLS Plus), fullleather interior with Porsche logo embossed on all head restraints as well as interior carbon accents.

Interior styling in a black/crème colour combination makes its debut in the Cayenne Turbo S. Exterior visual accents include air inlet surrounds painted in highgloss black, the undersides of the door mirrors in the same colour and the roof spoiler and wheel arch mouldings in car colour. A sport exhaust system is available as an option in combination with a sound symposer, which optimally transmits the V8 sound experience into the interior.

October - November 2015

Intelligent SME

Rare & Fabulous

Bend your mind with virtual reality

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amsung Gear™ VR Innovator Edition is now available in the UAE in limited quantities. The Gear VR Innovator Edition is the result of an integrated partnership with Oculus, creating the most immersive virtual reality experience on the Galaxy S6 and S6 Edge.

“Samsung is incredibly excited to launch our first virtual reality device, the Gear VR Innovator Edition.

We have worked in partnership with Oculus, a leader in virtual reality technology to provide the most accessible and immersive virtual reality experience to our users” said Mr. Hayssam Yassine, Head of the IT and Mobile Team at Samsung Gulf Electronics (SGE) “We acknowledge this is just the beginning for virtual reality entertainment and we look forward to developing further and continuously providing the best technologies for our customers”, he added.

Leveraging the Galaxy S6, and S6 Edge‘s 5.1-inch Quad HD Super AMOLED screen Gear VR Innovator Edition

produces stunning visuals and allows developers to design amazing 360° experiences.

In addition to an immersive entertainment experience, Gear VR Innovator Edition has potential for innovative uses for enterprise, including realistic training simulation for vehicles or aircraft, 360° views of scans for healthcare, and interactive learning experiences for the classroom.

Alongside the launch of Gear VR Innovator Edition, Oculus will make the Oculus Mobile SDK for Gear VR available now to all developers who register at developer.oculus.com/

Gear VR is equipped with a touch pad, back button, and focus adjustment wheel for an easy-to-use virtual reality device, while its flexible, lightweight materials make it comfortable for users to wear.

Samsung Gear VR Innovator Edition is available in Frost White in limited quantities across leading UAE retail outlets.

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October - November 2015

Intelligent SME

Rare & Fabulous

Artcode Lady - luxury meets femininity

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uperbly balancing the worlds of luxury and femininity, the Artcode Lady from SAINT HONORE sees the master watchmaking maison revisit the delicate, elegant proportions of this beautiful classic and brings it an innovative touch. The first design element that stands out is the bezel with its decorative screws, a recognisable signature of the Artcode line.

The dynamic shapes of the 35 mm case and bezel are softened by particularly elegant Roman numeral dials. The classic versions of the dial are sun-brushed and coloured; the jewellery versions feature the “Éclair effect TM”, an exclusive SAINT HONORE innovation.

Each piece of the collection has been carefully crafted to bring out its own assertive personality, and admiring eyes will note that the straps are perfectly coordinated with the dials.

In particular, the two-tone versions brilliantly combine PVD or rose and steel; the centres of the champagne Éclair versions are illuminated by the brand’s famous “diamond paving”; and the violet version’s strap and dial make an impeccable match.

Flawlessly executed in Switzerland like all SAINT HONORE watches, this new ladies’ line is available in a three-handed quartz movement with date display and your choice of leather strap with folding buckle or metal bracelet.

For the brand’s 130th anniversary year, the Artcode Lady offers a prestigious addition to the SAINT HONORE collection.

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October - November 2015

Intelligent SME

Rare & Fabulous

The Steelcase version of an intelligent office

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future workplace which integrates technology into places that can enhance human interactions at work and give workers more control over key sources of distractions that impact performance such as noise, interruptions, lighting and temperature control. While the recent IPSOS-Steelcase market research survey reveals that over a third of UAE workers feel overwhelmed, stressed and less productive in the workplace, these cutting-edge concept products reflect Steelcase’s explorations of how work environments can evolve to address workers’ issues in order to enhance productivity, creativity and quality of life at work.

The Intelligent Office concept from Steelcase integrates sensing devices into the work environment that gather and aggregate data and learn over time what people want and need. The company recently displayed its vision for embedded technologies that help mitigate distractions and augment

interactions at work at NeoCon 2015 in Chicago.

To address issues such as these, Steelcase has conducted thorough research into the changing nature of work, the workplace, and emerging technologies.

Combined with an analysis of latest neuroscience findings, it has gained new insights into the implications of design for human behavior at work. Allan Smith, Global Vice President of Marketing, Steelcase, stated, “This enables us to explore concepts for an intelligent office that supports the cognitive, emotional and physical wellbeing of people. We envision a workplace that actually helps people think and feel better at work.”

To protect our energy, our brains work in cycles of peak activity and downtime.

The Steelcase meta-analysis of neuroscience studies found that to increase productivity or creativity, workers should not attempt to focus longer or put in more hours, but rather learn to better

manage the rhythms of attention throughout the day. By offering choices that increase control of the stimuli around them, the Intelligent Office concept is mitigating distractions to workers.

Andy Morris, Head of Sales, Middle East, Steelcase, said, “When workplaces are designed as an ecosystem of differentiated zones and settings, workers can appropriately select spaces that match their brain modes and activities as they move through their day. This understanding of neuroscience helps us integrate technology into the workplace in a way that helps people cognitively offload information into the physical environment and help them feel less overwhelmed.”

The Intelligent Office concepts, which are currently under development, include: Brody WorkLounge with sensors, Division screen, Gesture chair with integrated, intelligent technology and Vertical Intelligent Architecture.

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