The intelligent SME Issue 19 by SPI Publishing

ISSUE: 19 | APRIL - MAY 2014

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Enabling Global Ambitions

28 Diverse SME financing options

Bank lending limitations forcing small businesses to look elsewhere.

32 Global ambition of local SMEs

The gold rush to Dubai has begun for a piece of action in the multi-billion dollar event. Can you be part of it?

What stands between success and failure for small businesses?

No.1 Platform for Small & Medium Enterprises Strategic alliance partner

Corporate partners

Sole automotive partner

Technology partner

79% of our customers are small to mid size businesses.

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Contents April-May, 2014

SME World Summit 2014 Celebrating entrepreneurship and empowering SMEs to pursue their global ambitions, the SME World Summit 2014, held on March 26 and 27 at the plush Jumeirah Beach Hotel, not only brought together high-profile entrepreneurs, executives, investors and other members of the region’s business community under one roof, but also empowered them by way of insightful panel discussions and educative workshops. In an exclusive coverage, ISME brings to you all the action of the Summit.

Panel discussions 28 20 million visitors, 20 million opportunities by 2020

What does the Expo 2020 bid win mean to a Dubai SME? How can entrepreneurs exploit it to their advantage? Many of such ‘million-dollar’ questions were answered by a group of experts at an insightful panel discussion.

30 More financing options-SMEs knocking at alternative doors

Small and medium enterprises constitute 90 per cent of all businesses registered in Dubai, yet banks are reluctant to support them with loans. During the SME World Summit entrepreneurs in the audience voiced their frustrations and aired the problems they were facing with the UAE’s local and foreign banks.

32 Cautious optimism in Dubai’s realty market

Dubai is witnessing a real estate market renaissance. Property prices are steadily increasing as a consequence of the market coming back. However, entrepreneurs are not happy. They are paying more to rent office space and are often pushed to respond to higher cost of living of their employees. We analyse the impact of the changing real estate market on SMEs

Enabling global ambitions An effective driving force is essential to accomplish a company’s objectives along with a strong belief in what one really wants to achieve, enabling global ambitions in the bargain, noted experts at a panel discussion at the recently held SME World Summit in Dubai. An ISME report.

36 Workshops Thrive like a Rockefeller!

by Ed Capaldi

Balancing growth and risk by Navin Nihalani Active referrals by Phil Bedford How are you? by Prof. Adrian Kennedy 5 reasons why CEOs get derailed by Rajesh Nagjee Accreditation – passport to global business by Dr. Sameer Kumar

Empowering SMEs through technology by Melvina Tarazi and Ahmad Al-Hiddiq

5 steps to achieve massive results

by Wassim Karkabi and Murtaza Manji

Women power at the SME world summit

Moderated by Sandi Saksena

46 How to succeed in the niche market? Vita Vision CEO, Sunil Ramchandani, shares his

inspirational story with ISME, he talks about struggles he had to face, as well as solutions and improvements he implemented to become a leader in nutraceutical products sector in the region.

Diagnose, repair, service and your business will flourish!

How to turn your idea into a successful business? How to sustain wealth and avoid classic mistakes? Business mechanic – Wassim Karkabi is sharing his knowledge and experience in the field in a truly inspirational interview.

52 SME banking made possible – one stop shop by Mashreq

It’s not what you know – it’s who you know…

Dubai gathers more then 203 nationalities. It also presents dramatically different business environment then known from other countries or continents. What SME should know when engaging in this region? Our expert, Amal Loring is explaining cultural differences.

Good governance is good for business Mark Fisher introduces different approach to corporate governance and explains how to improve your business and implement set of rules and measure an easy way.

66 The truth about first-mover advantage

Being first in the market might be seen as an advantage but also brings series of risks and obstacles. You need to plan carefully and trust in talent to be true pioneer in the market – the experts say.

54 Getting your modes of advertisement right

Non payment premiums – what do you need to know?

58 Facebook for Business: All you need to know

We met Rohit Garg, head of business banking at Marshreq who told us how the organisation is approaching the SME lending and how it is going to attract this market by introducing new services and educational meetings.

Refer or not to refer? Direct verbal business referrals are one of the most effective and cheapest marketing strategies. Our expert, Phil Bedford, explains how to master this technique and avoid disappointments.

Everyone is familiar with Facebook; probably most of us used it at least once or at least had a peak to find out how it works. This powerful tool can be used to market your business. Our experts are advising how to start, what to feature and how to use it to attract new clients.

Sandi Saksena gives a comprehensive look at the insurance premiums, which are additions to standard covers. These are not discussed very often much as they do come as added value and are free of charge but might be extremely helpful in variety of situations.

Do you act like a Big Boss, or a Giant Leader?

Boss or a leader, which one are you? Michael J. Tolan our guest expert helps to identify characteristics which true New Age leader should possess to sparkle enthusiasm in his team.

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Editor’s Note

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

Winter is almost over. The temperature has risen in the SME world in Dubai for somewhat different reason - SME World Summit 2014, which was by far one of the most important events for Dubai’s business scene. Two new additions in the newsroom at ISME have also contributed to the heat wave: my colleague Amey Borkar and myself. We came on board the editorial team a few weeks ago the ship is now in full steam ahead.

Publisher & CEO Shantanu A.P. Account Director Vijay G. Editor Samar Manzar Asst. Editors Nikhil Pereira, Piotr Wnuk, Amey Borkar Consulting Editor Utpal Bhattacharya

Expert Contributors Amal Loring Mark Fisher James Reynolds Johan Engelbrecht John Merrigan Michael J. Tolan Neil Petch Phil Bedford Sandi Saksena Simon Hodges TishTash Zed Ayesh

Art Director Aneesh Varghese Designer Retheesh Viswanath Web Developer Raj Shekar Reddy Photographer Arzai Zafar Response and communications

Response Executive Evelyn V.B. MIS Executive Yolanda Pedemonte Distribution Department

Jerry P. Sam Editorial Enquiries & Contributions

% 04-2659704, 04-2650312 Fax: 04-2690566 editor@theintelligentsme.com

Now, after I have actually had a chance to take a deep breath and reflect on the huge success of our event, I can say with full responsibility that ISME was able to gather the most experienced and successful SMEs from the region at the annual Summit. There is an extensive and exclusive coverage from the event in this issue where you can read all about several panel discussions, workshops and awards given to the best SME world performers. I spoke to Wassim Karkabi, one of the Dubai’s entrepreneurs, a business mechanic and very inspirational personality, who is representing ActionCOACH in the Middle East. Wassim is helping SMEs to achieve ultimate entrepreneurship goals after setting up his own successful business. He shared his valuable knowledge and experience on how to sustain profitable results and avoid common business mistakes. The “Success story” section features a Vitavision; family run Dubai based nutraceutical company with longstanding history and impressive growth in the Middle East market. The firm is shortly going to be taken over by the new generation of the family. I spoke to the current CEO and founder of the company who told me how he has overcome obstacles on the way to success and introduced such niche market in the Middle East. As always, we have a bank of articles with advice of experts on how to conduct and run businesses. And lastly, we have collated the latest SME related news and business announcements, in case you have missed them. There are also a carefully selected luxury items in the Rare and Fabulous section. We truly hope you will enjoy this, 19th issue of ISME. We welcome all comments and suggestions of the content. Please do get in touch at editor@ theintelligentsme.com Piotr Wnuk

Assistant Editor

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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.

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

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

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

April-May 2014

Intelligent SME

Rare & Fabulous

The new Audi A8 L Security– Providing protection with luxury

udi launched the most exclusive model version in its new A8 car line – the A8 L Security. The high-security version of the luxury sedan meets the highest level of criteria that apply to civilian vehicles. An array of high-security equipment features complements the armor plating. At 5.27 meters long and with a 3.12 meter wheelbase, the new Audi A8 L Security is a representative sedan that is, visually, barely distinguishable from the production version. Audi A8 L Security can withstand attack by military hand grenades. Even an explosive charge, as specified in the test program, does not pose a lethal threat to passengers. The standard equipment in the new Audi A8L Security also includes the intercom system that the passengers can use to communicate with the outside world with the windows shut. It comprises a loudspeaker in the Singleframe grille, along with

microphones for the interior and for the vehicle’s surroundings. Audi can supply a wide range of options to enhance protection including the emergency exit and fresh-air system. The interior is an elegantly styled relaxation zone offering a bespoke-standard build quality. There are two electrically adjustable individual seats in the rear. The front comfort seats, with an equally wide range of adjustment options, can also be supplied with massage and ventilation functions. There is a choice of two high-end engines: the eight-cylinder engine accelerates the new A8 L Security from 0 to 100 km/h in 7.5 seconds. The twelvecylinder engine 0 to 100 km/h in 7.1 seconds with top speed of 210 km/h. The new Audi A8 L embodies the perfect synergy of technology and design and for this very reason it has been displayed throughout Design Days Dubai 2014.

April-May 2014

Intelligent SME

Rare & Fabulous

theDRESSroom. com opens showroom in Dubai T wo friends Samantha Kayruz Chami and Dina Abdul Hadi Daryani came up with theDRESSroom.com idea last year as a fashion solution for their peers. They saw a gap in the e-commerce market in the Middle East and had a drive to address it, by creating both an online and offline platform for fashion conscious women that were looking for stunning dresses, at affordable price points, all in one place. The newly opened showroom caters to the growing demands of the regional clientele and aims to provide a space for women to preview, order and buy a selection of designer dresses and gowns. The online shop hosts an extensive selection of over 3000 designer evening dresses to complement all body types and sizes, conservative, modests and gowns that adhere to the traditions of Middle Eastern culture. With the launch of its new location, theDressroom.com shoppers in the UAE have an opportunity to visit the showroom and enjoy personalized service in an intimate environment. At theDRESSroom.com focus is kept on the latest international trends and influences throughout the diverse collections. The online store gives users a comprehensive shopping experience with its impeccable and personalized service. Supported by a dedicated customer care call centre it has an online live chat features assist shoppers as they browse the site. The customer care team aids in choosing the right size with a step-bystep guide to measuring the body to ensure the perfect fit. Dresses are delivered to your doorstep and free return policies have been put in place should you require to return or exchange a purchase. Tailoring adjustments have also been made available in the UAE. The newly open boutique is located in 903 Cluster V, JBC2 Towers, Jumeirah Lake Towers, Dubai.

April-May 2014

Intelligent SME

Rare & Fabulous

Small speaker with huge aspirations S

AED 8

oundLink Mini speaker fits in the palm of your hand, connects wirelessly to any Bluetooth device and delivers a new level of performance. At 680 grams weighs no more than the average tablet. It measures just 5cm H x 18cm W x 5.8 cm. With its anodized aluminum housing, it resists scratches and fingerprints, and is strong and durable enough for the rigors of everyday use. “Handheld speakers aren’t new, but none are like the SoundLink Mini,” said Ratish Pandey, General Manager, India Middle East & Africa, Bose UAE Trading LLC. “Developing a smaller speaker wasn’t the goal and it wasn’t enough. The SoundLink Mini had to be small, and it had to offer better sound than any speaker of its size. And we believe it does.” Two new passive radiators feature a patented surround to reproduce the lowest notes. The proprietary passive radiators are driven by new custom-designed, high-efficiency Bose transducers, which move twice the air as conventional ones. To optimize the audio output, Bose digital signal processing is integrated for tonally balanced sound at any listening level. The resulting experience is unprecedented: the SoundLink Mini plays the full range of music -lifelike and powerful. The SoundLink Mini speaker uses Bluetooth A2DP and a powerful antenna for a reliable wireless connection. It’s easy to pair and play, connecting to a mobile device at the touch of a button on the speaker’s control panel. The six most recently used Bluetooth devices are stored in memory, eliminating the need to pair again. The SoundLink Mini speaker comes with a charging cradle, making it easy to grab-and-go and a rechargeable lithium-ion battery that lasts for up to seven hours of listening. The speaker can be easily transported, used fast and efficiently without power source or pairing, which makes it a great companion for any entrepreneur who would like to shine during presentations with an outstanding sound quality and also use it in his office as a high end music system. The SoundLink Mini Bluetooth speaker is sold for AED 899 and is available at The Bose Stores and authorized Bose dealers in Dubai.

April-May 2014

Intelligent SME

Rare & Fabulous

Citizen launches world's fastest satellite synchronised watch R enowned for the ‘fusion of technology and beauty’, CITIZEN has been innovating futuristic environment friendly and state-of-the-art technologies that have helped to herald revolutionary concepts like Eco-Drive and Super Titanium watches. This season CITIZEN is back again in the limelight with the launch of Eco-Drive SATELLITE WAVE – AIR. This advanced satellite timekeeping system delivers much higher reception sensitivity and is the world's first light-powered watch with a full-metal case that receives time signals from navigation satellites. It engages atomic clocks of the closest orbital satellites circling the earth from about 20,000 kilometers above, and beams signals directly back to your watch no matter where you are. Further, this system dynamically adjusts your time so that you’ll never be

out of sync. Its speed to correct the time is also the fastest among all satellite-synchronized watches. The design of both sides of the titanium case was inspired by the streamlined structures of wings, enhancing the impression of dynamism and lightness. The dial suggests the rotating fan blades of an aircraft engine, associated with an image that suggests drawing light and satellite signals from the sky. The dial consists of three transparent layers, over which indexes, windows and hands are laid out respectively, creating an airy floating impression. The watch features Titanium case, sapphire glass with anti-reflective coating, 20 bar water resistance, Eco-Drive mechanism, Satellite Time Keeping System with worldwide reception, World time in 26 cities, perpetual calendar and power reserve indicator.

April-May 2014

Intelligent SME

Get Informed

Al Basel Group launches Amani Investments The new investment firm has been created to render financial, investment advice and help in handling finance-based portfolios.

he Al Basel Group of Companies has announced the launch of Amani Investments, the conglomerate’s latest addition to its diverse portfolio of business interests. Established to be the investment arm of the Al Basel Group, Amani Investments will be offering bespoke financial and investment solutions to companies and individuals in Middle East. The company is targeting midrange and high-end clients; individuals and corporations by managing their savings and assets portfolio and providing turnkey advice on investing and helping their wealth grow at a safer yet faster pace. UAE is poised to continue with its dynamic growth across key markets. In fact, a recent report from Knight Frank, independent real estate consultancy, says that Dubai's prime residential property is forecasted to record the world's highest growth in prices this year. The prediction complements industry reports from 2013 showing that Dubai posted the world’s top growth in luxury prices; growing by 20 per cent. In 2013, major expat nationalities investing in real estate doubled their investment as compared to 2012 and the same is expected for 2014. “Amani Investments is the newest addition to the Al Basel Group of Companies—a new investment firm created to render key financial and investment advice while at the same time help in handling finance-based portfolios. The launch of this new company complements the UAE’s recent win to host Expo 2020 as industry analysts have predicted an influx of projects to help prepare for this truly global event, particularly in the real estate segment. Dubai is heading towards being seen as the ‘World’s Capital.’ Amani Investments can help invest your funds into one of the many possibilities offered by this real estate boom in what could be the world's most peaceful and dynamic place. We have aligned our mission statement and values with the vision statement of the rulers of the UAE,” concluded Basel Al Kasem, Founder and Managing Director, Al Basel Group.

Basel Al Kasem

April-May 2014

Intelligent SME

Get Informed

Do you run a customer service centre? Get a makeover for free! Enterprises with contact centers in Middle East can participate in a contest for a no-charge makeover of their technologies, equipment and workplace environment

nteractive Intelligence Group Inc., a global provider of software and services designed to improve the customer experience, is launching a Customer Experience Makeover: Contact Center Style contest. The contest is open to businesses of any size worldwide looking for a no-charge makeover of their contact center technologies, equipment and facilities. The makeover will include Interactive Intelligence cloud contact center technology, along with associated hardware, phones, headsets, CRM software, workstations, monitors, furniture, interior design services, and training and consulting services. “Our business is helping contact centers improve the service experience they deliver to their customers,” said Interactive Intelligence chief marketing officer Joe Staples. “With that objective in mind, we created this contest to showcase the difference the latest technologies, equipment, and best practices can make in delivering a great customer experience. We look forward to giving that one lucky winner the opportunity to delight its customers, while turning service into a competitive weapon.” concluded Staples. Interactive Intelligence will supply all contact center software and hardware delivered via a cloud deployment model. It will also supply training and consulting services. Interactive Intelligence partner sponsors will provide additional technologies, equipment and services. Participating sponsors to-date include Contact Center Compliance, OrgSpan, Plantronics and Zendesk. “Keeping contact centers up-to-date with the latest technologies and best practices ensures that customers, partners and prospects have positive interactions with a company’s brand, which in turn has a direct impact on the business’ bottom-line. We encourage contact centers in the Middle East to participate in our contest as they stand a chance to win an ultimate makeover that no doubt will have a positive impact on their customer’s experience,” said Shaheen Haque, territory manager, Middle East & Turkey at Interactive Intelligence. A panel of Interactive Intelligence judges will determine the Customer Experience Makeover contest winner. Interactive Intelligence will announce the winner at its annual global customer and partner event in June this year. From start to finish, Interactive Intelligence will document the winning contact center’s makeover with photos, videos, blogs and articles.

"Our business is helping contact centers improve the service experience they deliver to their customers" Shaheen Haque

April-May 2014

Intelligent SME

Get Informed

Man’oushe Street to open 90 branches across 5 markets; inks to franchising deals

an’oushe Street, a popular Middle Eastern eatery has announced the signing of its first batch of master franchise agreements that will see the opening of 90 new branches across five markets Leading global group, Wadi Degla Holding, has signed a franchise agreement for the opening of 35 new branches in Europe, covering key areas like Luxembourg, Belgium and the Netherlands, and 50 new branches in Egypt. Man’oushe Street has also signed a franchising deal with UAE-based BLOOM Restaurant Management, for the establishment of five new branches in Abu Dhabi, which is set to open its first location in the next few

months. The opening of these 90 new facilities is expected to follow the success and overwhelming response generated by Man’oushe Street’s nine original branches in the UAE. According to Man’oushe Street senior executives, Wadi Degla will be investing over USD 30 million for its local operations and international expansion until 2019. Meanwhile, the BLOOM Restaurant Group is looking to invest AED 4 million or the opening of five new branches in Abu Dhabi over the next four years. The signing of these new franchise agreements proves to be both timely and strategic as recent industry reports have revealed that the UAE's fast

dining segment is forecasted to grow from USD 0.2 billion in 2013 to USD 0.4 billion in 2017. Since the opening of its first branch in Mizher in 2010, the company has posted excellent performance Yearon-Year (YoY). In fact, from 2012 to 2013, Man’oushe Street has gained 100 per cent sales growth, which clearly reflects the company’s growing popularity as a highly preferred dining venue. “We are very pleased at the overwhelming response that we have been receiving for Man’oushe Street—which has now become a highly preferred choice for healthy and filling meals in the UAE,” said Jihad El Eit, Founder and CEO, Man’oushe Street. “With this in mind, we have now embarked on a new roadmap towards the further development of the Man’oushe Street brand. These landmark franchise agreements with Wadi Degla Holding and the BLOOM Restaurant Management not only reflects our growing popularity but also marks a great step forward for our move to expand and strengthen our presence. Looking to add more Man'oushe Street branches in the global map, we are now currently working on potential franchise deals in Saudi Arabia, the US, India and the UK.” The new franchising agreements will include the training of new employees and the regular supply of all raw materials needed for the operations of the new branches from the central kitchen. Man’oushe Street will also conduct regular quality audits and inspections to ensure that these new franchises will continue to maintain the high-quality of service, food and its facilities that Man’oushe Street is known for.

April-May 2014

Intelligent SME

Get Informed

Silicon Park to facilitate green, smart lifestyle Silicon Park, the first integrated smart city project, built at a cost of AED 1.1 billion spaning an area of 150,000 square meters. It's expected to be completed by Q4 of 2017. It will be built in the Dubai Silicon Oasis (DSO)

his project is a step to transform Dubai into the smartest city in the world over the course of the next three years. “We are confident that this project will succeed in offering a modern lifestyle for residents, workers and visitors. The project’s standards are aligned to the Dubai Government’s strategic directions on smart cities that focus on six pillars: life, society, mobility, economy, governance and environment,” said His Highness. Green roofs will include plants and trees that require minimal irrigation and utilise the direct sunlight on the buildings. The project will optimise renewable

energy resources and will apply measures to achieve efficiency in energy consumption. Additionally, it will also feature smart lighting systems with motion sensors that respond to traffic and individuals. The smart street light poles will be equipped with digital signboards that can be remotely controlled through an application. The project will implement advanced technologies to support controlling water consumption through recycling procedures at homes and offices for re-use in irrigation to minimise the ecological impact on the carbon footprint. On the list of features there are also intelligent solutions from charging-docks for smart devices on the street to smart pop-up furniture, digital play tables, as well as optimally-designed bus shelters, piazzas shading, and other public amenities. Visitors to the site will be directed through the most advanced technology - augmented reality - which converts real spaces to virtually-generated maps. As part of the ‘smart’ experience, Wi-Fi will be available to tenants and visitors in the premises, giving them access to a wide range of innovative applications and smart robotic technology solutions.

The Silicon Park complex will be completely devoid of vehicles. Instead, electricity-powered vehicles will serve as the primary form of transportation. A number of charging stations will be set up across the area that can be accessed by all residents and visitors with electric vehicles. Other means of transportation such as smart rechargeable electric bikes will be also available for hire. The project will consist of a control center that collects and analyses data and information gathered through the sensor devices available at the project’s site. The information gathered will serve to operate and manage these devices in a seamless manner to ensure the delivery of best smart services to employees, residents and visitors. A wholly-owned entity of the Dubai government, Dubai Silicon Oasis operates as a free zone technology park for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional headquarters, research and development facilities in the Middle East and North Africa region.

April-May 2014

Intelligent SME

Get Informed

10th INSME annual meeting in Abu Dhabi

International Network for Small and Medium Sized Enterprises (INSME) in partnership with Khalifa Fund for Enterprise Development organised the 10th INSME Annual Meeting and Forum 2014 with the theme “Investing In Innovation – Building a Sustainable Knowledge-based economy”. INSME provides SMEs with a global knowledge sharing platform stimulating public and private partnership in the field of innovation and technology transfer, Khalifa Fund, on the other hand spearheads the entrepreneurial ecosystem in Abu Dhabi.

halifa Fund was chosen to organise the event by the International Network for Small & Medium Enterprises after a thoughtful selection process between different entities from around the world. Abu Dhabi was chosen to host the event as it displayed great investment potential and business-friendly environment. H.E Ibrahim Ahmed Al Mansouri, chief operations officer at Khalifa Fund, said: “We are pleased to be hosting this annual event as it will reinforce the position of Abu Dhabi and the UAE in general on the global investment map and promote the emirate as an environment that encourages innovation in entrepreneurship. Since 2007,

Khalifa Fund has been consistently enriching entrepreneurship and innovation for a wide group of emirates. Its partnership with INSME furthers our aim to provide SMEs with outstanding training and networking opportunities in order to help them grow”. The first two days of the event comprised roundtable discussions and an International conference led by representatives from Virgin United Mentors, Google, OECD and many more. There was also be an exhibition of the most innovative companies - that are supported by Khalifa Fund for Enterprise Development. INSME Secretary General, Christin Pfeiffer, said: “INSME acts as a hub, multiplier and disseminator of knowledge, a

facilitator for alliances, a promoter of networking and a catalyzer to encourage North-South and SouthSouth international co-operation and political dialogue. The 10th INSME Annual Meeting and Forum is particularly proud to offer an outstanding international training session where INSME members received a special treatment with competitive rates”. The last day of the event was dedicated to training, when participants got insights and key learning from some of the most outstanding business leaders across three modules: “Sustainability, Innovation and Design”, “Commercialisation of research” and “Tips and Tricks on Creative Communication”.

April-May 2014

Intelligent SME

Get Informed

University of Dubai promotes student entrepreneurship The University of Dubai launched its Student Entrepreneurship and Innovation Club established by the Centre for Research and Consultancy. It will provide information, mentoring and networking opportunities to students and alumni to nurture start-ups and ideas.

embers of the club will have access to mentoring from professors and staff with experience in nurturing startups and setting up SMEs, as well public and private sector partners, who will support the aspiring entrepreneurs through every step of establishing a business. The club will hold regular workshops and networking events with keynote speeches from successful startups, entrepreneurs, innovators, and organize industry visits and internship opportunities with associated companies. The club will also run competitions for members who will have to solve real life business challenges, and present business plans to experts for growth. Dr. Khalid Abdul Aziz Mohammed Al Janahi, Advisor, Dubai the Capital of Islamic Economy related the significant contribution of Islamic economic values and principles in nurturing innovation and entrepreneurship. He praised the University of Dubai

for taking this important step towards making Dubai the capital of Islamic economy in the next two years as envisaged by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Dr. Mohammad Abdulqader Al Redha, Director of Health Data & Information Analysis Department, Dubai Health Authority said: "Dubai is aiming to become the centre of excellence in providing medical care, medical education and medical research. The University of Dubai 's proactive role in encouraging innovation is of significant value in this effort to take healthcare in Dubai to the next level." In his address, Dr. Eesa Bastaki, president, University of Dubai, said: "With the aim of creating an entrepreneurial and innovative ecosystem within the university, we have established the Student Entrepreneurship and Innovation Club to nurture the entrepreneurial

spirit of our students and alumni. The idea came following a survey of our students who displayed their entrepreneurial and innovative attributes to develop their ideas into real life businesses. This initiative will spark innovative ideas and generate selfemployment opportunities to aid economic development in Dubai and the UAE, and thereby reduce the pressure of unemployment." "We are very pleased to be involved in this important initiative, and we look forward to sharing our expertise with the students and alumni of the University of Dubai," added Karim Djerboa, Principal Consultant, Innovation 360. Abdullah Al Subyani, Partner and CEO, SYNERGiCS-MENA Consultants, said: "We are always striving to encourage new talent at SYNERGiCS-MENA Consultants, and we expect that our joint efforts with the Student Entrepreneurship and Innovation Club will help develop their exciting ideas."

April-May 2014

Intelligent SME

Business Announcements

Al Ramz Securities tops UAE trade, corners an impressive 13.62 per cent of market at AED 15.99 billion in February

he brokerage firm traded at AED 10.2 billion to account for 12.22 per cent of DFM activity from January 2 to February 27, 2014 and at AED 5.79 billion or 17.04 per cent of ADX exchange for the same period. Al Ramz thus achieved an aggregate value trade of AED 15.99 to corner 13.62 per cent of the combined markets with an almost full 4 per cent gap from the second placer. Al Ramz credited its market dominance to the hard work of its staff, the loyalty of its clients, and the healthy investment environment created by the government.

“This year is turning out to be another productive period for Al Ramz, and we would like to take this opportunity to thank our great team of staff and administrators, brokers and analysts for keeping us on top of the market for the second consecutive month. Of course, we would also like to salute our clients who continue to make us their preferred trading platform. Ongoing government efforts to further enhance the local investment environment will definitely work to our advantage as we eye more service additions and enhancements to best cater to the needs of our clients and partners,”

said H.E. Mohammad Al Mortada Al Dandashi, Partner and Managing Director, Al Ramz Securities. Al Ramz Securities has over 150 years of combined experience in financial services. It is the first brokerage to be awarded a financial consultation and analysis license by the UAE Securities and Commodities Authority. Al Ramz has branches in Abu Dhabi, Dubai, Sharjah and Al Ain. Al Ramz is a member of the ADX and the DFM and also trades in NASDAQ Dubai where it was awarded ‘Broker of the Month’ six times in 2013 as well as in January 2014.

Info2cell.com, a mobile service application provider in the Middle East has posted a 27.7 per cent growth in 2013

Bashar Dahabra, founder and CEO, Info2cell.com

nfo2cell.com’s announcement comes amidst the expanding telecommunications business in the Middle East, which is fast becoming the next big market for mobile applications. Industry experts project that the region will witness over 350 million mobile subscriptions by the end of 2016. In terms of smartphone use, UAE is expected to record over 70 per cent smartphone penetration rate in the next two years, or an estimated 3.8 million handsets. Annual revenue on smartphone applications in the Middle East, meanwhile, is predicted to reach more than AED 735 million by 2015 as demand for Arabic language applications increases. Bashar Dahabra, Founder and CEO, Info2cell. com, said: “Most mobile owners use their smartphones to access their social media accounts such as Facebook and Twitter, shop online, and search for information, resulting in high demand for an optimized mobile experience. The company aims to meet this demand by offering innovative mobile applications that are accessible through various devices that run on the iOS, BlackBerry, and Android operating systems. As an operator, content publisher, and independent service provider, we provide a robust, reliable, and flexible platform to meet the needs of all our clients.”

April-May 2014

Intelligent SME

Business Announcements

Bashar Bashaireh to head regional sales for Aruba Networks

ashar is responsible for developing and executing strategies to expand Aruba’s customer base and capitalize on the huge business opportunities arising as a result of the current mobility and Bring-Your-Own-Device (BYOD) market trends. Bashar brings over twenty two years of professional experience in the Middle East ICT market, holding senior management positions in various renowned companies and successfully building Start-ups. The appointment is part of Aruba’s road-map to expand its footprint across the region. In 2012 Aruba recruited two new value-added distributors (VADs), FVC and METRA and together with its existing VADs Oxygen and Hasoub, the company has seen growing success. Similarly, Aruba Networks added a new VAD in Turkey, Neteks, besides existing VAD Prolink. The company is also making concerted efforts to educate regional enterprises and help them address the challenges of enterprise mobility through a roadshow across four major cities including Dubai, Riyadh, Doha and Istanbul. It is constantly burging innovation to the region. Aruba’s flagship 802.11ac Wireless LAN solution is the first in the industry to deliver gigabit Wi-Fi combined with the device density and application intelligence required by todays Wi-Fi networks.

UAE real estate market witnesses renewed investor interest

bu Dhabi Finance, a leading mortgage provider in the UAE, participated at Next Move live, a new consumer property investment platform arranged by the organisers of Cityscape with the aim to connect home buyers and sellers. Chris Taylor, CEO at Abu Dhabi Finance, said that the introduction of such consumer property shows is indicative of renewed investor confidence in the UAE’s real estate market. The country has witnessed impressive property market growth, especially during the past year, and UAE Nationals, expatriate and non-residents buyers are looking for investment opportunities. “Abu Dhabi Finance is keen to play its role as a trusted and leading mortgage provider in the UAE,” said Mr. Taylor. “It is exciting to see this surge of investment interest in the local property market and we are committed to helping clients decide how best to take advantage of this boom.” “As developers are announcing new property projects across the country, our team provides prospective buyers with relevant and comprehensive information to facilitate their real estate decision making. A mortgage is the single largest financial commitment for many consumers; it is essential for clients to find customised mortgage products that best suit their individual needs, and this is what we offer at Abu Dhabi Finance.”

Noor Bank's head of compliance recognised at Thomson Reuters Governance, Risk and Compliance Awards 2013

rashant Anand, head of compliance, Noor Bank, has been honoured with the chief compliance officer 2013 distinction at the Thomson Reuters Governance Risk and Compliance Awards. The awards ceremony that was held on the side-lines of the eighth Annual GCC Regulators Summit at Atlantis – The Palm was designed to recognise the achievements of compliance professionals from across the financial services industry and supporting professional services firms. The judging panel comprised an independent group of industry experts. The winners were chosen following a stringent evaluation process. Narendra Swarup, Chief Risk Officer, Noor Bank, said: “Noor Bank has implemented compliance to all national and international regulations to safeguard the interest of our stakeholders and customers. As a responsible and forward looking financial institution Noor also takes its responsibility seriously to fight against money laundering and financial frauds. “Over time, Prashant Anand has helped us stay aligned to these commitments. His focus on innovation has also contributed to streamlining processes and raising the standard of our operations. We congratulate him on this welldeserved recognition.”

April-May 2014

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Business Announcements

Deyaar plans to foray into hospitality sector

ustomer-focused, trusted and valued developer with indepth market intelligence and property management expertise. Deyyar announced its decision to expand development portfolio beyond commercial and residential properties, with the inclusion of hospitality projects. The move, which comes as part of Deyaar’s strategy to diversify its capabilities in the real estate sector, will be initiated within the Dubai market. In line with its new direction, the company has allotted up to one million square feet for hotel and serviced apartment projects in prime locations in the

city in the coming years. These include strategically-located areas such as Business Bay, along Sheikh Zayed Road, as well as sites located in close proximity to the proposed venue for the Expo 2020 mega event, along Sheikh Mohammed Bin Zayed road. Deyaar also seeks to grow its hospitality portfolio both organically and inorganically through acquisitions. The decision to develop hospitality offerings follows a call by Dubai’s leadership for greater investment in developing realty solutions to serve the rising tourist footfall to the emirate. With several projects under consideration,

the company also aims to forge international collaborations that increase essential value propositions such as quality and credibility. Saeed Al Qatami, Chief Executive Officer at Deyaar, said: “We believe this is a positive step for Deyaar, and will give us an opportunity to demonstrate our ability to deliver on evolving market demands. Dubai has seen a phenomenal surge in occupancy rates, crossing the 80 per cent mark in high-value areas in 2013. Deyaar certainly has the means to tap into this growing sector, and give our customers a bigger portfolio of investment options to choose from. “We have a number of projects under consideration, which we hope to reveal soon. Some of these properties will be retained as fully-owned developments under Deyaar, while other projects will be sold to thirdparty investors. Each development will feature trademark Deyaar differentiators, such as location, quality, a sense of space and timely delivery.” Deyaar offers four main real estate solutions, including property development; property and asset management; facilities management and owner’s association management. The company’s varied operational approach has been especially favourable given the strong upturn in the real estate market, enabling a 300 per cent increase in profits last year. Commenting on market trends, Qatami said: “The demand for residential, retail and commercial properties is on the rise. Based on the sales results achieved last year, we can see that the buoyancy is certainly catching on. We are confident that with continued inflow of liquidity into the market, Dubai will sustain healthy growth in its real estate sector. As a developer, we believe the way to contribute to this growth is by delivering exceptional quality projects and reasonable investment prospects that keep buyers interested and prices within mature market levels.”

April-May 2014

Intelligent SME

Toyota, the preferred automotive partner for SMEs in the UAE B eing the UAE automotive partner of choice for SMEs, Al-Futtaim Motors, exclusive distributor of Toyota in the UAE has been supporting the nationwide economic success of the SME segment, through attractive tailormade automotive solutions. Considered the fastest growing division within the company, AlFuttaim Motors’ SME is a dedicated division that looks after Small and Medium Enterprises throughout the UAE in ways that reflect its market leadership and excellent customer service values. Toyota SME department has been registering continuous growth over the past three years. It recorded a 27per cent year-on-year growth in 2013, due to the many new vehicles that were launched, offering excellent fuel economy, the lowest total cost of ownership and the highest resale value in the market. Al-Futtaim Motors offers a large line-up of 19 affordable yet reliable models, many of which are ideal for small businesses looking to operate headache-free fleet for many years while enjoying excellent after sales and customer service. While Corolla, the world’s best-selling car has always enjoyed a great appeal among SMEs, registering a substantial growth of 66 per cent in the SME sales in 2013, Camry is expected to generate a great demand within this sector in 2014. This is due to the launch of Camry S+, a new limited edition model, that offers four times the comfort with four additional specifications at the same price of the regular Camry S. Following the unchanged emotional and rational concept of the regular Camry S, the limited Camry S+ enjoys an even bolder look thanks to the new DRL lights, while delivering a more luxurious and pleasurable ride, owing to

the newly introduced leather seats, 6.1inch display audio with Bluetooth, USB and MP3 facilities in addition to a convenient rear view camera. In the Light Commercial Vehicle (LCV) segment, Hilux pick-up has seen a staggering sales increase of 102 per cent in the first quarter of 2014, a healthy sign of the economic boom being experienced in the UAE. With leading Islamic and conventional network of banks offering competitive finance solutions, excellent insurance products, buy-back solutions, zero down payment and deferred payments, Al-Futtaim Motors enables its SME customers to run their fleets without upfront

liquidity allowing them to use their capital for investment in their core business functions and expansion plans. Al-Futtaim Motors’ strategy is to anticipate its SME customers’ needs and not simply react to their demands, allowing them the best opportunities for business growth.

April-May 2014

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SME World Summit Coverage – Expo 2020

20 million visitors, 20 million opportunities by 2020 While Dubai continues to rejoice winning the Expo 2020 , many of the local businesses are anxious to know how the million-dollar event will be of benefit. What is in store for a local business, how can SMEs, or, even start-ups leverage the Expo to their advantage? Many such questions were answered at the recently held SME World Summit 2014. An ISME report. Direct and indirect opportunities for SMEs

Expo 2020 will give Dubai’s economy a tremendous boost with five per cent economic growth and 10 per cent increase in the number of visitors in the next five years, said panelists at the SME World Summit 2014. However, managing the number of visitors at the Expo itself will be one Herculean task, they observed. They explained that not just the logistics of the expo, but simple needs like arranging refreshments for the visitors and the disposal of rubbish will be a task in itself. Vincenzo Grassi, associate partner, PwC Milan who is a highly placed official at the upcoming EXPO Milano 2015, gave a peek into the event and said: “During the expo in Milan, 26 million meals will have to be served in over 100 food service points for the expected 20 million visitors.” He drew similarities between the Milan Expo and that of Dubai, and added that many hotels, food and beverage, transport and goods suppliers will be automatically and directly contributing to the event by providing rooms, catering and transport for all visitors. Furthermore, the number of indirect opportunities cropping up for local businesses in infrastructure, construction and real estate will be enormous. Dubai Government itself is planning to invest US$ 8 billion in infrastructure in the build-up to

the Expo that will accommodate an estimated 20 million visitors. Mohamed Lahouel, chief economist, Dubai Economic Department, noted: “SMEs should be integrated into the economy with a public procurement website that advertises know where spending is happening.” He went on to add that “the Dubai Government is working to ensure that SMEs avail of this opportunity. Dubai SME is producing a 2020 document, which will outline all the potentialities” said Lahouel. This transparency in spending should encourage entrepreneurs looking for new opportunities, he said. Apart from direct and indirect business opportunities, the Expo 2020 will additionally give Dubai an exceptional networking platform with a chance to establish links with investors, buyers and suppliers both, locally and internationally. The impact of internationalisation will provide local companies a chance to explore and develop growth opportunities in international markets.

Capturing a global audience

Branding is a very important exercise for building awareness for one’s brand. Hoda Barakat, chair, INTA Middle East Global Advisory Council, in her speech at the summit, explained how trademark not only protects the owners of goods and services, but

also gives them the legitimacy that consumers look for at the time of purchase. Branding is a powerful tool often underestimated by SMEs, she said. It not only raises the profile of a business but also legitimises the brand to clients and competitors alike. It protects exclusivity and enables consumers to make quick decisions. Good, well-thought branding will make any business recognisable to wide audiences during events such as an Expo, she added. Dubai-based entrepreneurs have six years to prepare for the Expo. What SMEs should do and how they could improve their businesses? SMEs tend to focus on internationalisation, but could benefit from concentrating on innovation, corporate governance and scalability potential, noted Alexandar Williams, director of strategy and policy division, Dubai SME. Only a staggering 13 per cent of SMEs in Dubai have implemented any form of innovation compared to the 23 per cent in Europe, and only 21 per cent of SMEs indicated deployment of advanced IT systems. Changes, improvements and expansion plans need to be backed up by financial resources. Acquiring them from the banking sector proves to be one of the biggest challenges of GCC countries. Roberto Rocha, senior advisor, World Bank, who was the keynote speaker at the summit, gave an overview on the difficulties for

April-May 2014

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SME World Summit Coverage – Expo 2020

Panel discussion moderated by Alexandar Williams, director of strategy and policy division, Dubai SME. The panel included from left to right Vincenzo Grassi, associate partner, PwC Milan; Hoda Barakat, chair, INTA Middle East Global Advisory Council; Hazeem Al Hajjaj, CEO, Micro Automation Industries; Mohamed Lahouel, chief economist, Dubai Economic Department; Amin Khayyal, general manager, DuPont, UAE SMEs to access growth capital. He also said that lending to the SME sector in GCC countries accounted for only four per cent of the total business loans compared to over 26 per cent in developed countries. “Weak financial infrastructure remains a problem, as do gaps in the legal and institutional framework. In addition, ineffective policy interventions and lack of well disseminated private

initiatives result in weaker SME financing in the region” said Rocha. He also stressed on the necessity of strengthening three core economic aspects: financial infrastructure, effective policy interventions as well as the transparent credit reporting and creditor’s rights. These tools can be used to develop a robust finance policy for the SME sector, he added. The SME business sector in the UAE definitely has

a gap to fill, and level up to competition from the west in the coming years, leading up to 2020 and beyond. In the near-term, however, panelists agreed that Dubai has a proven track record of rising to big occasions by achieving miraculous feats. They also said Dubai will not only shine at the Expo 2020, but also thrive and develop much stronger economic links globally for years to come.

April-May 2014

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SME World Summit Coverage – Finance

More financing options - SMEs knocking at alternative doors Small and medium enterprises constitute 90 per cent of all businesses registered in Dubai, yet banks are reluctant to support them with loans. SMEs account for only four per cent of total business loans in the UAE compared to the 26 per cent in high-income countries. The discrepancy against SMEs sparked a heated discussion during SME World Summit where entrepreneurs in the audience voiced their frustrations and aired the problems they were facing with the UAE’s local and foreign banks. Piotr Wnuk reports for ISME.

ccording to the latest survey conducted by Dubai Economic Council, SMEs are faced with tremendous hardships in terms of accessing finance from banks in the country. The situation is quite bad, noted Mohamed Trabelsi, Senior Economist at Dubai Economic Council, one of the panelists at the panel discussion, “Access to finance for SMEs in the UAE: Opportunities and Challenges”. The

panel discussion was moderated by Dr. Ibrahim Elbadawi, director, Macroeconomics and Forecasting, Dubai Economic Council.

Alarming data

Trabelsi said that over 700 local enterprises were questioned at the survey and a staggering 83 per cent of the respondents appeared to have no access to bank loans in the UAE. He added

that collateral standards became very important for banks when reviewing loan applications and a basis for rejection or acceptance. A World Bank study has found that Dubai SMEs have got only a four per cent share in the total business loans in the country, while in some non-GCC countries the figures are in the mid-twenties. SME owners, who attended the panel discussion, blamed

Panel discussion from left to right: Alexandar Williams, director of strategy and policy division, Dubai SME; moderator: Dr. Ibrahim Elbadawi, director, Macroeconomics and Forecasting, Dubai Economic Council; Richard Morrison, regional head of corporate direct and intermediaries, AXA Insurance; Amir Ahmad, senior associate, Pinsent Masons; Jean Marc Paufique, COO, Zawya; Vikas Thapar, CEO in charge of the SME business, Emirates NBD; Mohamed Trabelsi, senior economist, Dubai Economic Council; Chris Thomas, CEO, Eureeca

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SME World Summit Coverage – Finance

the country’s banking sector for not only not helping, but also at times even creating obstacle. They pointed to high cost of banking services and unfair treatment towards SMEs. Panelists were sympathetic to the grievances, but they also noted that there were a host of alternatives to the banking sector lending cropping up now. They urged entrepreneurs and SME owners to take advantage of this alternative source of capital.

Entrepreneurs still in focus

Vikas Thapar, head of Business Banking, Emirates NBD, said that SMEs are always the backbone of any emerging economy and this holds particularly true for the UAE. He mentioned that the country has established itself as the regional business hub with the potential to foster sustainable growth and SME market is of a great focus. In response to why this sector is having trouble obtaining business loans he highlighted the fact that businesses in UAE are lacking financial transparency, which is a serious obstacle in loan review process. “Very often business owners are mixing personal and corporate expenses, which decreases their credibility in the eyes of local banks. SMEs who are looking for a bank loan should

have robust financial plans and transparent financial records,” said Thapar. He added that Emirates NBD has been leading in SME support as strategic objective by participation in the events such SME World Summit, expressing the bank’s commitment to empowering entrepreneurs and enabling them to connect with other businesses for further development and growth. In order to help entrepreneurs improve, Emirates NBD also launched the “Rise” initiative last year. The Rise initiative enables SME owners to leverage growth opportunities through mentoring, education, guidance and networking. The insurance sector is also interested in increasing their credibility. Richard Morrison, regional head of Corporate, Direct and Intermediaries, AXA, said: “Growth of SME sector is important and we want to support it. Insurance helps encourage lending. We can protect the customer assets and can trade credit. We can also protect the key of human resources.”

Alternatives to bank lending

Panelist joined the debate on how to improve credibility of small and medium enterprises and also looked into alternatives to

banking sector lending. “Equity finance is a viable option for SME financing in the region, but the UAE lags the developed countries in deploying this means of finance” said Alexandar Williams, director of Strategy and policy, Dubai SME. “The market for financing a ticket size of AED5 million or less for a startup is almost non-existent here. There is, however, a great opportunity for this financing method to develop into the mainstay of funding for SMEs as the UAE economy moves towards higher value-added activities, and further improves its business and equity investment laws,” added Williams, and, gave an example of Singapore where access to equity financing is much easier. He suggested that GCC countries should follow the same model. Crowd funding is also a new way of finding stakeholders, and it is quickly gaining the support of enthusiasts, especially in startup and in the small enterprises sector. It allows featuring business ideas online and gathering necessary funds for either start of the business or development. “We are allowing business owners with excellent ideas to make their dreams come true. We have a great example of a local business, which manufactures fashion accessories. This company has used our platform to garner over 150 per cent of needed amount for development,” said Chris Thomas, CEO, Eureeca. The fashion brand is now appreciated worldwide and has been recognised in most prestigious magazines. “This entrepreneur would probably not be very credible in the eyes of the banking sector and would not have access to finance,” noted Thomas. Despite challenges, panelists were, however, optimistic and predicted the country’s SME sector to flourish in the next two years. They also said there were signs of positive changes within the banking sector, which is increasingly lending to the SMEs, while also initiating dialogues with the sector, and supporting it with education and training through different forums.

April-May 2014

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SME World Summit Coverage –Real Estate

Cautious optimism in Dubai’s realty market Dubai’s real estate market returned to life after a period of stagnation with the first growth registered since the 2008 economic downturn, but experts have warned to be cautious when investing in realty. A panel of market experts and economists met to discuss the recent trends in the real estate sector in Dubai, and its effects on entrepreneurs during the SME World Summit 2014. They addressed the burning issue of rising value of property, and the negative effects it has on small and medium size enterprises. The experts also gave crucial measures to avoid the dreaded real estate market bubble again. An ISME report by Piotr Wnuk Real estate reborn

Dubai property market is witnessing a recovery. According a research conducted by Jones Lang LaSalle, the year 2013 witnessed the recovery of the real estate market in all verticals: residential, retail, hotel, industrial and office sectors. While the demand for industrial properties has had a steep growth with a tendency to shift to new areas of Dubai, Business Bay seems to be on the radar of several companies where 49 per cent of total new commercial buildings are due to open in the next two years. “Dubai is well set in corporate realty market for years to come with the Expo 2020 positively impacting this tendency,” said Alan Robertson, CEO, Jones Lang LaSalle, at the panel discussion. Market research and GDP figures are indicating that the economy, along with the real estate market is thriving once again. Dubai has overcome the negative impact of the global economic crisis due to an active government involvement and changes to legislations. The construction industry, directly dependent on real estate market, recovered in record time and is expected to see

further growth within the next few years. “The market is in a positive mood. Many companies have restarted once stalled projects. Building material companies are back with a bang. We expect the same positive growth trend in the years ahead, much like the pre-2008 market, when we were registering 40 to 50 per cent growth a year,” said Rizwan Sajan, chairman, Danube Group.

Rising property prices – be vigilant

The recovery of the property market has also given a boost to rents. Dubai’s lease prices surged more than 20 per cent last year with further growth expected. The increase in rent prices in the commercial sector, which directly affects the SMEs, was actually much smaller than residential properties. There is no reason, according to the experts, to sound the alarms as yet. Market trends within the commercial sector have definitely changed for the better. Developers are releasing subsequent phases in much smaller chunks, which provides the market with controlled and gradual provision. “There is a constant supply of office spaces, which

is currently the best approach. This is not going to change any time soon. There is a vast choice of small and medium size offices to choose from,” said Robertson suggesting that prices should not be flying through the roof in the near future. Several members of the audience pointed fingers squarely at the broker community, holding them responsible for the rise in rentals, using the Expo 2020 as a pretext to lever the prices up. The government is about to implement the Real Estate Investment Protection law that will be regulating this sector of the market, apart from the standard brokerage laws.

Effect on the SME sector

Changes in the real estate market are affecting small and medium enterprise owners directly as well as indirectly. Businesses in the construction, building material and infrastructure sectors are benefiting from a booming market directly. On the other hand, an increase in rental prices definitely affects all business owners, who are leasing office or commercial spaces in Dubai. As also rightly indicated by an entrepreneur in the audience, increase in residential

April-May 2014

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SME World Summit Coverage – Real Estate

From left to right are: Moderator Ifran Al Hassani, editor in chief, Dubai Economic Council and panelists: Alan Robertson, CEO, Jones Lang LaSalle; Rizwan Sajan, chairman, Danube Group; Ahmad Anani, partner, Latham and Watkins; Ali Al Sadik, senior economist, Dubai Economic Council. Robin Teh, country manager, UAE, Chesterton International. property prices coupled with an inflated cost of living are indirectly affecting SMEs, as they are forced to raise salaries, which adds the burden of higher rents. This will result in either lower profitability or higher prices for goods and services. “According to the collected data there is no inflation as such, yet the housing market is standing as high as 43 per cent of the basket in the Consumer Price Index. I hope landlords will learn from the situation in 2008 where they were registering 20 per cent contraction in their contribution to national GDP,” cautioned Ali Al Sadik, senior economist with the Dubai Economic Council.

“Four per cent property transfer fee is just one of the examples where the government is trying to sieve through investors to attract only serious buyers to the market,” noted Ahmad Anani, partner at Latham and Watkins. The example of Singapore government’s intervention was cited by Robin Teh, country manager at Chesterton International, who compared overcoming the economical crisis in Asian countries to the current situation in the UAE, “Dubai has implemented new rules and measures, which is definitely a sign of the market becoming more mature and stable. I do not think

we need to be afraid of another bursting bubble, but we all need to be cautious and ensure steady growth,” said Teh. Other panelists agreed that the real estate market is not likely to witness another crash, as the country is better prepared with a strong regulatory framework now. Despite the positive outlook, the panelists, however, advised investors and end-users to remain cautious and exercise both prudence and smart thinking while choosing what to purchase. This rule should apply to investment of any kind – not only in real estate market, they said.

Lesson learnt – no more bursting bubbles

The government of Dubai, indeed, played an important role in the market recovery of real estate sector, which, before 2008, had been under-regulated and prone to speculation. The access to finance, in the past has definitely been too easy with no specified collateral, which resulted in a crash, with many business owners not able to afford property repayments. The government has introduced an extensive legislation in this connection to regulate the market and prevent harmful activities.

April-May 2014

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SME World Summit Coverage

Competitiveness, innovation most important in SMEs to achieve global recognition Putting together a success mantra is easier than achieving the end result, especially for SMEs dwelling in Dubai, often regarded as the “hub” of entrepreneurial brilliance. The level of competition is high in the emirate, and a company’s reputation is always at stake. There are three major elements powering the success of every SME: human capital, dreams and passion. An effective driving force is essential to accomplish a company’s objectives along with a strong belief in what one really wants to achieve, enabling global ambitions in the bargain, noted experts at a panel discussion at the recently held SME World Summit in Dubai. An ISME report.

“R

esilience is one of the most important factors that every young entrepreneur should have”, said Ghislain Desjardins, managing director of DuPont Middle East, North Africa and Pakistan. He explained that

grit and passion are important qualities required to fulfill dreams and deliver to the company motto, thereby enabling it to go global. Market visibility in a cut-throat environment, such as Dubai, is fundamental, which could be a daunting task for any SME or a

start-up. A recently-conducted study, which took into account 800 SMEs in Dubai, revealed that only 13 per cent of the surveyed companies took initiatives to improve products, services and invested in R&D (Research and Development) during the last three

Panelist of Enabling Global Ambitions meeting at the SME World Summit: (left to right) Camila D’Abo, managing partner, Dabo & Co; Ghislain Desjardins, managing director, DuPont Middle East; Vihram Chadha, vice president, SME marketing, Du; Nilanjan Ray, managing director and head of commercial banking, National Bank of Abu Dhabi; Essam Disi, senior manager, Strategy and Policy department, Dubai SME.

April-May 2014

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SME World Summit Coverage years, to which Essam Disi, senior manager, Strategy and Policy Department, Dubai SME, expressed concern over. Productivity is the key for SMEs to be competitive locally, regionally and globally. Dubai has grown tremendously within the past few years, overcoming various challenges. And, therefore, innovation plays a key role in setting one’s business apart, it’s a tool not only used for product development but for services as well. Disi further suggested: “For an SME to be truly competitive they should concentrate on investment, develop a robust business model, strive for a product/service innovation and invest in quality ICT to improve their processes. It is also important to invest time with human capital of an organisation, providing strong guidance and equipping them for larger, global challenges.” Dubai-based SMEs are in an advantageous position, compared to SMEs world over, to be part of the Expo 2020 given their location. Aiding their cause is access to information from government entities and larger multinational companies in a transparent manner. However, SMEs cannot be complacent and lack competitiveness, as there is stiff pressure from opportunistic companies in the region. The bottom-line being that competitiveness and innovation drive global ambitions, illustrated Essam Disi. Nilanjan Ray, managing director & head of commercial banking, National Bank of Abu Dhabi pointed out, when a small company tries to do more than its capability, hence, not addressing market needs, adding value or addressing consumer demands, it results in meaningless burning of cash. Hence, grass-root level planning is very important. For Vikram Chadha, vicepresident, Enterprise Marketing, Du, innovation is doing things differently, and drawing on innovations from other industries boosts the growth of a company. The previous century witnessed the evolution from manufacturing and production companies to service economy, the rise of consultation firms’ stands testimony. Today,

the economy has further advanced to the experience companies provide. It is not always about being cost efficient, but, it boils down to customer experience, the agility and efficiency with which customers can be served. He also emphasised on the importance of having a simple and efficient company website, which is your window to connect with customers globally. Today, several digital marketing tools enable companies to connect with users taking feedback from around the world. Simultaneously, it’s a handy tool while launching a new product

Results of recent study conducted by Dubai SME •

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• • • • •

•

Only 13% of the surveyed SMEs were found to have implemented some level of innovation Only 21% of SMEs indicated deployment of advanced IT systems Only 26% of SMEs provide need-based or comprehensive training to their employees Only 24% have a regular KPI-based performance evaluation 34% of the SMEs indicated that they have a formal organisation structure 50% of the SMEs indicated that they maintain audited financial statements 80% of SMEs had used their personal money to finance to start a business Only 23% of SMEs have accessed bank finance in the last 5 years. (56% need finance) Only 19% of SMEs in Dubai have a high scalability potential ( due to high overhead structures, coupled with high capacity utilisation levels)

Camilla d’Abo, managing partner, DABO & Co, made it a point to express the importance of a motivated taskforce. Employees who stay with the organisation for long spells believe in its goals. Having been recognised as one of the "Great Place To Work 2013 UAE SME Index" by Great Place to Work Institute, a global research and management consultancy, DABO & Co implemented measures: flexible working hours and working from home, that worked in their favour. d’Abo also shared her views on woman entrepreneurship. “Women have a bright future in the business arena, but they have to work doubly hard as compared to men. Women have to be thoroughly professional and deliver, living up to their reputation. Even though the Arab world is largely a matriarchal society, mainly due to the respect women receive, there is a large scope for women in business in the Middle East. Having earned a number of feathers in its cap, Dubai has conquered countless feats. With the Dubai Expo 2020 looking over the horizon, it is yet another opportunity every SME should grab, which will help them realise their global ambitions.

Moderator: prof. Christopher Abraham, Head - Dubai Campus & Sr. Vice President Institutional Development at S P JaIn School of Global Management

April-May 2014

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SME World Summit 2014 – Workshop

Thrive like a Rockefeller! Be a gazelle, run fast, but know where you are going, Ed Capaldi said during his workshop that explained to SMEs how they can master Rockefeller Habits and implement them into their businesses.

he workshop presented by Ed Capaldi, strategic advisor to Business Leaders, Founder and CEO of www. edcapaldi.com, was definitely one of the largely attended workshop at the summit. Knowledge hungry SMEs occupied every inch of space in the room to learn about four critical areas affecting growth of the companies: strategy, people, cash and execution. Practical angle on leadership skills and how to quickly implement them into businesses were well received by the audience. SMEs also learnt

about the “4 Decisions Framework” and how successful leaders punch through to the next level and accelerate growth with doubling their cash flow. Ed also shared his knowledge and advised how to make the right decisions in these areas of business in line with Rockefeller Habits Growth Tools by using a handy and easyone-page strategic plan to assess current state of the company, identify goals, find the areas for improvement quickly and turn vision into reality with a speed of the gazelle.

Balancing growth and risk Navin Nihalani, managing partner, Compass Financial Solutions, explained the various risks SMEs are prone to and suggested ways of protecting their business.

e urged SMEs to insure their businesses with policies that provide maximum benefits so that when faced with crisis, they have something tangible to fall back on. Nihalani apprised new entrepreneurs of how the constitution of any business entity can pose a risk to an organization. Absence of a succession plan in place can bring to halt a company's functioning in times of extreme situations such as death of a company leader. SMEs are often short on resources and do not necessarily have clear assets that they can present as collateral for a bank loan. As a result, banks are reluctant to help SMEs. This lack of collateral security puts great pressure on an SME affecting

their growth and progress. Among the other risks cited by him were tough competition, low collections, bad debts, high borrowing rates and capital costs. SMEs were advised to secure their businesses with insurances such as the Business Interruption Insurance or Crime Insurance.

April-May 2014

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SME World Summit 2014 – Workshop

Active refferals Phil Bedford “The Rebel Networker” and coach at the Referral Institute in Dubai explained to participants the various ways of harnessing the power of ‘word of mouth’ and referrals.

mall businesses do not operate on huge budgets and therefore do not spend significant amount of money on marketing. At his workshop at the SME World Summit Phil Bedford introduced the cheapest way of marketing and business expansion – the word of mouth. 98 per cent of businesses rely heavily on existing client relationship for referrals and leads, and yet, this high quality business often comes by chance. He gave a series of practical examples and advice on

how to get more business referrals starting from the existing clients who can initiate the cascade effect. One of the key takeaways from this session were techniques of maximizing networking opportunities, mixing with owners of different lines of business, trusting in “who they might know” rather then assessing and judging their corporate activities. The workshop was truly inspiring ended on an empowering note for all the entrepreneurs present.

How are you? Prof. Adrian Kennedy, chief wellness officer, Arabian Wellness & Life Style Management, assessed the health of participants by making them take part in a health test. “How are you?” The response to the question is almost always “I am fine”. However, if you have been a participant of Prof Adrian Kennedy’s recently held ‘How Are You’ workshop, you’ll think twice before giving an answer. That’s precisely because the workshop minutely assessed the health of the participants, telling them ‘how well’ they actually are. Conducted on March 27 (Day 2) as part of the SME World Summit 2014 at the Jumeirah Beach Hotel by Prof Kennedy who is the Chief Wellness Officer, at Arabian Wellness & Life Style Management, the workshop saw an attendance of 50-odd participants. Packed with practical health advice that too, without much use of the baffling scientific jargon, the workshop was a highly interactive and informative session. The workshop was a series of on-the-spot health tests which the participants had to undergo, at the end of which, they were provided with a health score which reflected how healthy a person was and what he/she needs to do to maintain or improve their health. Divided into Physical, Nutritional, Psychosocial and Behavioral tests, the workshop saw a participation of nearly 50 health-conscious people. Speaking about nutrition, Prof Kennedy advised participants not to consume more than 4 tablespoons of sugar in a day. “More than 4 tablespoons a day is

bad for your health. If you are into eating desserts at the end of your meal, be wary; they contain almost 8 tablespoons of sugar. Remember, you are what you eat. Sugar is relevant to diabetes, salt to hypertension and commercial foods to cancer,” Prof Kennedy explained. The workshop also had participants evaluating themselves for mental health and stress and finding out how habits such as alcohol consumption and smoking affect one’s health.

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Intelligent SME

SME World Summit 2014 – Workshop

5 reasons why CEOs get derailed In an highly interactive and energetic session attended by a packed audience, business growth expert and founder of the ‘CEO's Business Growth Program’ Rajesh Nagjee clearly explained the five reasons responsible for derailment of SME CEOs.

lass ceiling, blind competitive streak, excuses and justifications, poor delegation and key bottlenecks in a company were listed among the top 5 reasons that usually derail top SME CEOs from their path of progress. "A good CEO should delegate tasks clearly and with a vision,"said Nagjee. Based on research carried out in the Middle East and Africa, Nagjee’s presentation also revolved around the idea of how a CEO can exploit different bottlenecks prevalent in a company and achieve a successful throughput. “Take a tree for example. It is either growing or decaying. There is no middle option. Same is with us and our careers. The sooner we understand this truth, the better,” Nagjee concluded.

Accreditation – passport to global business International regulations can act as a barrier for every business owner who dreams of going global. It can severely affect a company's expansion plans. An internationally recognised accreditation can greatly help a company overcome this challenge. Dr. Sameer Kumar from QSZ Certification Services shed some light on this underestimated idea, in his workshop, during SME World Summit 2014.

hanks to globalisation, several local and multinational are keen on expanding their footprint across various markets. However, one of the trade barrier in the pursuit of this endeavour is complying with regional and international regulations. An international SWISS accreditation is an essential and easiest method to overcome these challenges. Dr Sameer Kumar, director-strategy & planning-Gulf region, QSZ Certification Services, explained how international SWISS certifications can help SMEs garner more profit. An experienced quality professional who has helped develop more than 400 SMEs and large companies in nine countries, Dr Kumar shared his knowledge on a wide range of certifications, with special focus on the SMEs in Gulf region. Entrepreneurs attending the workshop gained an insight into how to go about planning a global expansion and how one can add credibility to their businesses by achieving an international certification.

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Intelligent SME

SME World Summit 2014 – Workshop

Empowering SMEs through technology Chaired by Melvina Tarazi, VP, SAP, and Ahmad Al-Hiddiq, partner, chief consultant, NOCC, the workshop focused on the various technological tools available at SMEs disposal.

hey also elaborated on ERP, CRM and other major software that could be used by SMEs in a simple, cost effective fashion. Attendees were given a fair idea of how to go about starting the digital arm of their organisation, and, whether or not some businesses need to go digital. Entrepreneurs were also urged to make the choice whether they want to start small with digital consultants or opt for a tailor-made backend with the likes of SAP’s services. Melvina and Ahmad also stressed on the need to move operations to the cloud sooner rather later. Contrary to popular misconceptions, cloud services are ably backed-up by its host. Also, certain cloud services come bundled with antivirus support by reputed brands thus vouching for data protection. SAP’s solution for Big Data Management was discussed as well, with the world moving towards Big Data aggregation its supervision has gained paramount importance. While Big Data is in a nascent stage, there are several business opportunities for small and medium enterprises.

5 steps to achieve massive results With an entertaining yet informative workshop two business mechanics from Dubai’s ActionCOACH – Wassim Karkabi and Murtaza Manji presented before a large audience six steps to create a successful business.

he workshop gathered a real crowd that took part in a step-by-step approach that aimed at clarifying objectives of each enterprise in order to produce consistent profits. Karkabi and Munji explained that the “5 levers to Driving Massive Profitable Organic Growth” are mastery, niche, leverage, team and synergy. “These are the secrets and fundamentals known to most successful entrepreneurs,” they said. In just one hour the coaches managed to squeeze in all substantial information of and brought much clarity about running the business to all participants who were eagerly interacting in the session. “Without vision, no business can succeed,” said Karkabi while Manji added that focusing on advanced recruitment techniques and empowering of employees is crucial to an SMEs progress.

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Intelligent SME

SME World Summit 2014 – Workshop

Women power at the SME world summit The second day of the SME World Summit 2014 was witness to a unique concept where 12 women entrepreneurs from across the UAE converged under one roof not only to share their business stories, but also to inspire and motivate each other with their trials and tribulations.

ontrary to the flawed perception that when women meet they only talk fashion, food and gossip, here were women, most of them in their middle ages, chatting, laughing, joking, singing, dancing but more importantly sharing with each other their valuable experiences in the most candid manner. Sandi Saksena financial counselor, writer, host and speaker kick-started the event with her presentation ‘CEO of U’. Author, businesswoman and coach Gloria Belendez-Ramirez narrated her life story with the help of her presentation ‘Stay Happy, No Matter What’. “Be happy and stay happy, no matter what situations life throws at you,

just like how I did,” she advised participants. Ghadeer El Ghafri too shared her story of how she turned her emotional loss into gain by composing poetry and how sharing the compositions on the social media helped her business. While June Silver spoke about how she facilitates higher education to those who can't spare time or money to take up courses at universities, entrepreneur Dilki Hope shared her experiences of surviving in times of recession and redundancy. These troubled times shaped a new career for me; I took up consulting and training, Dilki said. With her presentation ‘Everything is possible’ modelturned-businesswoman Elena Weber emphasized that a new

beginning in one’s life is always when a person steps out of his/ her comfort zone. Supporting her idea were speakers Akshatha Bala and Jennifer Randive who urged participants to love themselves while also asking them to view obstacles as opportunities. While Wessam Mohie delighted everyone with a blend of wisdom and humor and talking about how she is helping women build a business around their talents, Mona Shibel shared the secret of her success – helping others take charge, awakening their passions and creating a business out of their passions. The session concluded with a talk on modern business approach for women entrepreneurs by Iyad Mourtada of ‘Open Thinking’, marked by a networking session.

April-May 2014

Intelligent SME

SME World Summit 2014 – Workshop

Successful franchising of a business Imad Charafeddine, chairman, Francorp ME and Ramon Vinay, president, Francorp International unveiled how every single business in the world, regardless of its nature or its size, can become a world leader through franchising.

he franchising model is the biggest and most successful in the UAE. Top brands have made their way to the UAE over the past decade or so. But, there are many other businesses that are looking to find the poignant gateway to do business in the UAE. Francorp International conducted a workshop at the recently concluded SME World Summit 2014. Chaired by Ramon Vinay, president, Francorp International and Imad Charafeddine, chairman, Francorp ME, the duo addressed several aspects of a successful franchising model. “As a new franchisor, you’ll be interested in franchise help through a full range of services and options provided by us. It

is very important to have the right franchising model, to know the right business addressing an existing market gap in the society” said Ramon. “Many different kinds of companies of all sizes have had successes in franchising. When you have an idea that needs to get to market quickly, franchising can be a great option. At Francorp, we try and understand the intricacies of various business models before advising or advocating any further strategic or business plans” added Ramon. Francorp also conducted a free evaluation for all the companies that had attended the session, giving away a free franchising toolkit (comprising of a CD and brochure).

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Intelligent SME

SME World Summit 2014 â&#x20AC;&#x201C; Business Olympics

BUSINESS OLYMPICS

2014 42

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SME World Summit 2014 â&#x20AC;&#x201C; Business Olympics

BUSINESS OLYMPICS

2014 43

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SME World Summit 2014 â&#x20AC;&#x201C; Speed Networking

Speed Networking 44

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SME World Summit 2014 â&#x20AC;&#x201C; Awards

Award Ceremony 45

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Intelligent SME

Success Story

How to succeed in the niche market?

Vitavision has been present in the Middle East for 11 years and is a pioneer in nutraceutical market, offering health and well-being products in this region. What is driving the constant expansion and success? Sunil Ramchandani, CEO of Vita Vision, shares his inspirational story, struggles, and the obstacles he faced in taking this family enterprise to reach the heights where it is today: Vitavision is a leader in dietary supplement business in the UAE. 46

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Success Story

itavision Medical Supplies LLC was incorporated in 2003 after breaking away from Ramchandani’s previous company. Major manufacturing companies such NBTY opted to transfer their brands to Vitavision, based on marketing capabilities backed with many years of an honest business reputation. “My biggest challenge was to generate substantial volumetric business within this region to prove worthy of their confidence in my abilities. At the same time their confidence in me, was a big boost that helped me to generate more than 30 per cent growth over their previous agents,” says Ramchandani. In 2004 Vitavision registered additional 52 per cent growth over the previous year . This proved to be an eye opener for major brands on the potentiality of this region. Right up until the dark days of the crisis in the UAE in 2008, the company continued to generate progressive growth. It took two years of great hard work and dedication in difficult economic conditions to bounce back with volumetric growth to proudly claim the award for “2010 Outstanding Sales”. Currently, the top selling products of Vita Vision are on prescription pads of leading doctors from both private and government hospitals in the UAE, and all over-the-counter products are visibly displayed and can be purchased off the shelf of leading supermarket chain, pharmacies and Dubai Duty Free pharmacies. The longstanding presence in the market is the best translation of success. The company has been awarded in 2011 edition of SME 100 in Dubai. “SME award did bring us recognition from various fields, especially from the banking sector. Various banks invited us to associate our business with them. We also gained respect and better understanding from our stakeholders, especially with international suppliers and local clients” said Ramchandani. Impressive growth rates and recognition are a result of careful execution of a company’s objectives. It involves consumer education, empowerment of people, transparent

communication and steadfast focus on a company’s core competencies. “There are few critical factors for our success. The general public is quite knowledgeable about nutrition and dietary supplements due to valuable information easily available in various media. Our aggressive marketing through a trained medical representative team has found our products into octors’ prescriptions. The awareness of products and their proven benefits has forced major insurance companies to accept our products into their scheme. We also organise continual medical education meetings with leading doctors in government and private hospitals and provide them a thorough knowledge about the benefits of our products. We have incorporated corporate governance in areas such as innovation and human growth and development. Having said that, yes we need to do more to further improve and keep improving all the time every

Our ultimate aim is to become one of the best dietary supplements firms in the world, and expand our brands in all leading international markets

time, to bring in efficiency and productivity in overall operations and management of our company” says Ramchandani. He explained that the major challenge in such a niche and new industry was raising the level of consumer awareness and convincing medical practitioners about the importance of dietary supplements to combat diseases, especially diabetes, obesity heart problems, male fertility and joints disease while complying with the norms and regulations of the health care sector. “Over the years, using media in different platforms, influx of culturally diverse population, advances in health care industry and creative marketing have helped overcome this challenge and this is an on going process compared to the developed markets,” Ramchandani adds. Vitavision is preparing to embark on a new challenge; Internet shop that will feature all products and also a library of information to help customers make an informed choice by the “ethical e-tailing”. “Our own studies and research in the market indicates that on-line purchases are steadily building trust amongst the consumers in the UAE. We have ensured that our website will be dynamic and informative and meet the requirements of our target market that like to be well informed. We are in the process of collaborating with proficient on-line payment providers and courier companies to ensure safe transaction and quick delivery.” In year 2013, Vitavision introduced ‘derma e’ natural skin care, body care and treatment items in the UAE market. The future plan is to develop markets in Gulf and Middle East regions with specialised products developed under the “Vital Health” brand. Vital Health is already witnessing significant success in the UAE, as it is being prescribed by leading doctors, and today the brand is available in all the pharmacies in UAE. “Our ultimate aim is to become one of the best dietary supplements firm in the world, and expand our brands in all leading international markets,” says Ramchandani.

April-May 2014

Intelligent SME

From the Entrepreneur

Diagnose, repair, service and your business will flourish! Most entrepreneurs start with an idea and a vision, which might not always be enough to succeed in the business world. This is where taking coaching could help, and today we have coaching firms like ActionCOACH offer a range of services to help businesses succeed. ActionCOACH is one of the reputated firms in the world, with presence in 51 countries. The company plans to expand in the Middle East via its office in Dubai. Wassim Karkabi, the man behind the success of ActionCOACH an entrepreneur himself, whose passion and talent for coaching paved the way to run a successful business. He shares his valuable knowledge in conversation with Piotr Wnuk. 48

ISME: Why do entrepreneurs need a business coach and at what stage of a business do you need to step in?

WASSIM KARKABI: These are two very crucial questions,

and I am really glad you are addressing these issues from the outset of our conversation. You see, in its 20 years of experience, ActionCOACH has had large exposure to business owners and has worked with a variety of them from different sectors and in every location imaginable. The hard truth of the matter is that entrepreneurs start a business for a variety of common reasons, but the most interesting one, is the fact that they believe they can deliver a product or service to customers in a superior manner compared to others in the market. They are usually specialised in a specific profession, and they want to start a business that utilises their expertise in a particular direction and make profit out of it.

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Intelligent SME

From the Entrepreneur The second problem is: a vast majority of entrepreneurs have a common problem, (statistically speaking about 84 per cent of business owners) is that they are specialists in delivering a product or service, however they are not business mechanics. They do not know the fundamentals that make a business tick. What actions should one take, what activities to drive, which numbers to monitor and which results to measure. They are un-aware of what impact a single action at one end of the business will have on the top-line, bottom-line or cash flow. This will tend to be what will hold them back beyond a certain level of growth. Their expertise will get them to a certain level of success, but if they do survive past, what we call the two-Year “Shutdown Milestone”, they will grow very fast to a solid top-line within three to four years. Then they tend to hit a glass ceiling at some point. Now, this period may vary from company to company and from one industry to another but, roughly, we are using average numbers. Our job as business coaches, as business mechanics, is to show business owners how to unlock the glass ceiling that is limiting their business growth, by focusing on key drivers that deliver sustainable business growth within their industry.

ISME: Do you only work with certain business verticals or you are open to any industry?

WASSIM KARKABI: As business

mechanics, our role is to build strong business fundamentals in an owner’s business, and create abundance through a process of business re-education, and because we know that those business owners are really very good at what they do - the products and services they deliver. Our role is not to get into that space too much, unless we encounter major negative impact on the business results. We, however, focus on showing them how to run a better business and how to grow it further, thus letting them concentrate on being the artists and innovators they always were. Can you imagine us arguing with a

I could not dream of a better profession which would allow me to give to others while enabling me to build a highly successful and profitable business at the same time. highly trained heart surgeon who is a Picasso with a scalpel,, which surgical equipment to use? It just won’t make sense. Where we can add value, is showing a business owner how to get more money in his business, more customers knocking the door, more profit in their books, and more time on their hands.

ISME: What is the range of different

business coaching programs you offer?

WASSIM KARKABI: We have

a variety of programs that clients can benefit from. Our flagship engagements are geared towards the classical coaching engagement, which tend to be one-on-one, or even group coaching – where we coach a group of business owners on a regular basis who are in noncompeting businesses. We also offer quarterly planning programs; year-long focused training days, delivered on a bi-weekly basis, as well as single stand-alone workshops and seminars.

ISME: Do you work with executives or employees at all levels?

WASSIM KARKABI: Yes, but, we work first and foremost we work with the owner; sometimes this is enough because business owners are usually very good at taking knowledge and

making them actionable in their businesses through others. On other occasions, and at the will of business owners, we work with leadership teams and heads of businesses and departments to help drive the concepts and actions that a business owner would want to immediately action within his business.

ISME: How does ActionCOACH differ from other training and development firms?

WASSIM KARKABI: I am not

sure you can refer to us as a training and development firm. We usually don’t follow the same business model. In most training firms, typically the trainer would come in, deliver a program, and then they take off to pursue the next assignment or client. The good ones have started now building coaching elements on the back end of training to ensure that the learning is being applied in the workplace. We follow a coaching model, which caters to business owners, and helps them drive business results. What we deliver in seminars and workshops tends to be more of added value to the core. Our core value is in the oneon-one engagement we have on a regular basis, for no less than a year, week in and week out, with a business owner, helping them deliver the fundamentals that will drive growth in their business.

ISME: ActionCOACH is well

established around the world and have served thousands of businesses during the last two decades. Why is it the right time to introduce this idea of coaching in the Middle East?

WASSIM KARKABI: Coaching

is no longer new in the Middle East. It has been emerging for a while, and has become a lot more popular in the last two to three years. With that, some individual coaches have tried their hand at business coaching as a specialty, and while a handful may have succeeded in some instances, the vast majority don’t have the weight and power of a well established multinational organisation with solid systems, tools, processes, strategies, and drivers to deliver

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Intelligent SME

From the Entrepreneur

if (…) businesses can develop together and grow, with high double-digit growth metrics consistently, we can witness a massive growth in the economy as a whole results in the immediate shortterm, as well as the long-haul. Enter ActionCOACH Business Coaching into a market that is fundamentally dominated by SME business, which makes up about 90 per cent of the GCC markets on average. These businesses are not being serviced by anyone. And the most important part is that if these businesses can develop together and grow, with high double-digit growth metrics consistently, we can witness a massive growth in the economy as a whole. That then will be the core of our founder’s vision, which he set 20 years ago when he started ActionCOACH.

ISME: Investment into development is not often a priority for SMEs. Can you explain why is it a crucial investment and what outcome it can bring?

WASSIM KARKABI: The

“ActionCOACH 14 Points of Culture” is what defines us as ActionCOACH business coaches. It is a key differentiator between competitors and us. We have found out that these values have helped us succeed. They have been developed over 20 years. If those who join our team as an employee or as a franchisee do not identify with these values, they will see very quickly that they may do well, but will not rise up to the top or be recognised as masters within the business coaching universe.

ISME: You offer very transparent

action plans and guarantees in your approach. One of the most appealing must be the ActionCOACH “17-Week, 7-Point Guarantee”, which promises your clients free coaching if they are

WASSIM KARKABI: Don’t

think of us as developers. Think of ActionCOACH Business Coaches as enablers for business growth. We can help business owners understand what to action, drive, monitor and measure in their business so they witness more than 40 per cent growth in their topline, and more than 60 per cent growth in a bottom-line, if they commit to simple and small steps on a regular basis. This requires discipline and commitment to succeed. You will be surprised to learn, not too many business owners have that discipline and commitment, and that is the most basic reason why a large number of SME startups fail in the first two years.

ISME: “14 Points of Culture” is one of the great ways of self-improvement and taking ownership of the success. Could you elaborate please? 50

…not too many business owners have discipline and commitment, and that is the most basic reason why a large number of SME startups fail in the first two years

not satisfied with results by the 17th coaching session. Is this marketing or an honest promise and how do you ensure great results in just 17 weeks?

WASSIM KARKABI: It had

better be a real promise because we spend a lot of time and money ensuring our coaches can deliver on it, otherwise they will be coaching for free for the rest of their lives. It is, by all means, a promise. But as all guarantees go, there are conditions that clients need to follow. With our 20-Years of experience, we know what works and what doesn’t, and we can put these systems in front of you; but if you, as a business owner, do not commit to those actions and get them done, we might as well just knock-off the coaching session to a nice conversation over coffee. So ownership, accountability and responsibility are key to success in the work that we do. Of course, we do have a mechanism by which we ensure those results. We approach business situations with a systematic and analytical perspective, and we start by paying attention to the most urgent and pressing situations, remedy those, then divert our attention to laying solid foundations, and consequently focus on putting together the building blocks of a better and massively growing business. But first, we need to plug the leak, and that alone can deliver solid results.

ISME: Lastly, why did you decide to steer your career towards business coaching?

WASSIM KARKABI: For me

coaching is a passion as well as a talent. I have always worked with others in a one-on-one format as well as in group settings to help them maximise their potential. There is nothing more fulfilling for me than to be able to provide support to others who seek it, and to see them succeed. I could not dream of a better profession which would allow me to both give to others while enabling me to build a highly successful and profitable business at the same time. This is what Business Coaching does, and this is fundamentally what attracted me to it.

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April-May 2014

Intelligent SME

SME Booster

Mashreq positions itself as One-stop shop for SMEs Mashreq Bank has been reshaping itâ&#x20AC;&#x2122;s SME focused service during the last two years to provide a much sharper, customised and decentralised offering built around the client rather than the product. The bank, which is a synonymous to innovation, is planning to arrange a series of workshops and seminars to provide expert advice for the small and medium enterprises enabling their growth. Mashreq has also created an array of SME focused products and introduced great flexibility in its lending approach. Piotr Wnuk met RohitGarg, head of business banking of Mashreq Bank, to get better insights into their SME products and services. ISME: How does Masreq gauge SME market sector?

ROHIT GARG: Mashreq is one

of the largest local banks in the region. It has been supporting small and medium enterprises for a long time and will continue to do so. The economic growth in the region is accelerating and SMEs are playing a very important part from an industry and banking

perspective. With the Expo 2020 approaching, I expect economic activity to accelerate further in 2015-2016 and SMEs will have a big contribution to these activities.

ISME: What is the percentage of SME clients in your bank?

ROHIT GARG: Each bank has a different categorisation of SMEs. Currently eight per cent of our

customer base will be enterprises, which we categorise as small and medium.

ISME: What are the SME dedicated products Mashreq offers?

ROHIT GARG: In the last two years we have remodeled our SME business and made it much more customer centric. The main change is that we have looked at

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Intelligent SME

SME Booster customerâ&#x20AC;&#x2122;s business lifecycle and how we enable the business at any point in time to support its growth. We offer a wide range of products and services tailored to specific needs on specific levels of business development. Some examples of specific products developed for the small and medium sized businesses are: Mashreq Platinum Business Credit Card, which is designed to offer payment convenience to SME customers, whereby owners receive the primary card and then extend those benefits to their employees by giving supplementary cards. The card can be uniquely customised with an organisation name embossed on the plastic cards issued to each employee. It is the most powerful and value packed business credit card offering in the UAE. It provides savings through cash back on domestic and international retail purchases. It also offers excellent discounts across a wide range of SME relevant services like car rentals, office supplies, hotel apartments, courier services etc. at more than 40 outlets. We offer business protection, specific insurance products, which provide all sorts of coverage that a small enterprise requires. It is an extremely flexible product that allows supplementing a standard insurance cover with a set of optional extensions, appropriate to a business and needs of any client. It can cover risks like employee fidelity, cash in transit, personal accident, fire insurance, protection for liability, computer breakdown and more. Rather than looking into five different providers, SMEs can purchase this bundle over the counter at a Mashreq Bank outlet and receive an instant cover. We also offer self-employed personal loans, business loans, trade and working capital, foreign exchange solutions, point of sales machines and linked overdraft, business accounts, debit and credit cards.

ISME: Mashreq is a synonymous of innovation. What new services are available for business customers?

ROHIT GARG: Simply put:

Mashreq is innovation! Our whole

We also offer Self Employed personal loans, Business loans, Trade and working capital, Foreign exchange solutions, Point of sales machines and linked overdraft, Business Accounts, Debit and Credit cards.

idea around banking in the region is that we have to make things possible. We introduced internet services and mobile applications, of which usage has grown 300 per cent in the last 18 months. Services are made simple and intuitive; this is the reason why they are so popular. Mobile applications are extremely easy to use and are as secure as your internet banking. The finer aesthetic aspects go a long way to determine great touch and feel. For SMEs, we have recently introduced the E wallet service called Naqoudi on our Internet banking platform, which offers a convenience for our SME clients to pay government fees. We have also introduced Payport, which is a mobile payment acceptance solution for merchants.

ISME: What sets Mashreq as a preferred bank?

ROHIT GARG: Businesses do

not come to our bank just for our products but for a continued level of support, and a long-term relationship. Our customer centric approach is the differentiating factor. We have decentralised our relationship management team who are now available at our local branches which is a big advantage for SME clients. We have a dedicated call center for SME clients as well. Our online banking platform is state-of-the-art and offers exclusive conveniences like Naquodi (e-wallet). Small and medium enterprises sometimes do not have a budget for expert services, hence we are now working on a series of workshops and seminars, which will be open to all business customers, and provide expert advice in many areas of running a business.

ISME: There is a perception that

banks are not lending enough. What is Mashreqâ&#x20AC;&#x2122;s approach towards lending?

ROHIT GARG: Between 2009 -2011, the SME market did not grow much due to the recession. As a result, working capital requirements of SMEs also did not expand and hence lending slowed down. We have observed a huge improvement post 2012, as most industries are growing and, therefore, banks will have more opportunity to offer lending support. Our approach to lending is very flexible, especially in the SME sector. We do understand that as a start-up the client might not have an extensive credit history. We, therefore, also look into ownerâ&#x20AC;&#x2122;s private account. If he presents good financial discipline and a well thought out business plan, we would take this into account and provide a personal loan for business purposes. The collateral free business loans are now available to companies with only two years of business vintage. This will help the small businesses meet their funding needs for expansion. In addition, the collateral free loan size can now go up to AED1.75 million. Of course, we offer larger loans for the enterprises, which have audited financials and can avail bespoke products and services. 53

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Intelligent SME

Marketing

Getting your modes of advertisement right When is word of mouth marketing not the safest form of advertising? Phil Bedford breaks it down.

Talking Facebook

SMS

Linkedin Phone calls

Video chat

E-mail Letter

April-May 2014

Intelligent SME

Marketing

ost seasoned business professionals will confirm word of mouth is one of their most effective ways of growing their business. Someone expresses a need for something we sell and a third party introduces us. More often than not this will result in a closed deal (for further information word of mouth against referral has a conversion rate of 1 in 6 times as opposed to cold calling which is 1 in 20) However, can referrals damage our business? The answer is yes. Whenever someone refers another person they are putting part of their reputation and their integrity behind that referral. They are saying, ”You trust me and I recommend.” What happens, therefore, if the person we refer them to does a bad job lies or even doesn’t reply. Not only is the customer potential angry or frustrated with the

IM Linkedin

An experienced business trainer, Phil Bedford brings over a decade of experience to his role as master franchisee for the Referral Institute. His expertise and experience of working with both companies and networking associations, coupled with a passion for training have helped him immensely. He regularly appears as a speaker in the UAE and abroad, educating people on how to build their business by word of mouth and “creating referrals for life.” supplier it also back fires on us as the person who introduced them. We often spend years building our reputations and while it may not be completely destroyed we always loose something, they will always question our integrity from then on. Suddenly, we have lost the speed of trust and it wasn’t even our fault we just wanted to help. My guess is we have nearly all been burnt at sometime trying to help someone by connecting two people. Even the experts like myself have been caught out. So what’s the solution? Well, we could retreat and simply never refer any one else. But then that’s not who we are, is it? As human beings we like to help and it makes us feel good (some people even receive money for it in terms of commission and this article is important for them just as much). For many of us giving referrals and doing business by word of mouth is a way of doing business it is the “way we get new clients”. So, if it’s something we need to keep doing there are a few important pointers. Firstly, let's check if we walk the talk. Are we referable or are we damaging other people relationships?

So, let's have a quick look at how we maintain credibility: 1

Twitter

2 3

Always communicate. Reply to emails within 48 hours. Set a standard by which you are known. In a world where emails often get lost, people will know if you don’t reply in your usual time and re-connect with you. Reply to phone calls or text messages. Turn up for meetings when you say you will. Not turning up sends many messages such as: you are not important or I am so disorganised I forgot. There is a cultural element here in

4 5

the UAE where family priorities will exceed business priorities (often the opposite in western cultures) so it pays to be aware of this. Ideally, whatever the culture we find a balance and respect each other’s preference. Do what you say you will do. Deliver what you have quoted. Dress in an appropriate manner for the business you are in and the position you hold. Always make the referral source look good.

Some tips to protect your reputation Be selective whom we refer and set the parameter by which you will refer them. E.g. I expect you to reply with 48 hours to a referral and keep me in the loop etc. Do as much due diligence as possible to ensure they do a good job before referring. Follow up with the client to see how your referral went. If they did mess up at least you can carry out damage control. Many people I know will refer but then never follow up.

The biggest loss?

Finally, the most damaged person is often the referral source not the client and hence oddly it’s exponentially worse for the person who messed up. The client was one lost deal. Yet the feferral source who has had their reputation and relationships shattered could have been sat on a gold mine of more business and yes this will probably now be fast footing its way to the number one competitor.

April-May 2014

Intelligent SME

Digital Marketing

Semantic search: the biggest change to the internet since the birth of the internet itself

Technology is changing day by day and so is the way we use it. Semantic search is an improvement to make our Internet searches more accurate and time. James Reynolds explains how to take an advantage of this feature and how keep your business website on a top of the search results. 56

April-May 2014

Intelligent SME

Digital Marketing

n the web there are over 1.8 billion web pages containing information relating to every imaginable subject, all of which would become un-navigable if we did not have search engines like Google and Bing to find, categorise, grade, and present information in an orderly way in response to our search queries. Through search engines we navigate the web. They are what gives the web its shape and gives the information it contains meaning. They are what we use to find the best price on a product we want, locate a service in our local area, or to cheat on an answer at a pub quiz. 6 billion searches are performed on Google each day, yet until recently results were largely imprecise. In the past search engines relied on data, and data only. Through statistical analysis of keywords on websites, search engines used a probability model to determine which web pages best matched a search query. For a search for “lawyer dubai” a website that strategically placed the words “lawyer” and “dubai” in its url and page content would be shown high in the results. Although Google in particular used over 200 factors to verify that probability, it was still relatively easy to game the search results. Search Engine Optimisation (SEO) companies exploited loopholes to push undeserving websites high up the ranking and SEO gained an iffy reputation. The good news is search is changing. It is changing from data driven keyword results that gave us the best probable answers to a search query (listed as 10 blue links on the search results page we then had to explore) to a more precise and accurate result to a conversational type search. For example the search query “how tall is the empire state building” provides a direct answer right on the search page. The new “semantic” Google understands conversational style queries and user intent, it understands what a website is about regardless of if or where keywords are placed, and it marks a transition on the web from web sites to people.

James Reynolds is the CEO of SEO Sherpa, a Dubai-based company that offers SEO services. He has achieved considerable success in the field of internet marketing as a consultant and speaker. Already considered by some as an internet marketing expert he has spoken at leading internet marketing events alongside industry leaders including Paul Lemberg, Dean Hunt, Stan Dahi, Simon Leung, Raymond Aaron, Rosalind Gardner and more. Visit Jame at http://www.seosherpa.com

6 billion searches are performed on Google each day, yet until recently results were largely imprecise. Now this is an odd statement to make, as the web after all continues to be made up of websites. The transition I talk about refers to the way search now works. In order to understand natural speech in search queries and return results that best meet those queries it has to understand what these words really mean. It takes the unstructured data, which we have all become used to, and turns it into a web of structured data categorised in to verticals. In the Semantic Web if you are an authority on a particular topic, lets say European history, you will transport your authority and reputation as you move around the web. If you write a guest blog post on someone else's website or you comment in response to a post about the French Renaissance then that content is likely to perform better in search. This means that when it comes to Search Engine Optimisation all the things you might have done in the past including, inserting keywords in your content, back links, and page building now take a secondary role to the way a website is perceived by the people who are on the web. The sharing of a website’s content, its mentions on social media sites, the importance and trustworthiness of the people who interact with the content all now impact how a website performs in search results.

When someone leaves a comment on your post, or shares your post on Facebook or Twitter they create complex social signals that Google uses to better understand what your website does, how good it is and whether it should be ranked for specific search queries.

So how you can take advantage of Semantic Search. 1. Add a blog to your website and create informative content that engages readers and inspires them to comment or share. Install social sharing buttons on your site to make it easy for readers to share your content via social networks. 2. Subscribe to Google’s Authorship program by adding your website address to your Google+ profile and by linking from your website back to Google+. Google may then show your photograph next to listings for your website in the search results. 3. Get active on Google+ to increase your Google+ following. Google+ plus connections and their connections (2nd degree connections) will be shown your content higher in search results for relevant searches when logged in to Google. Google personalises it’s search results to show searchers more content from people they are connected too. It is therefore very advantageous to have a large following on Google+. In summary, Semantic Search is the biggest change so far to the search landscape, perhaps even the web itself. To win in the Semantic Search era requires time and effort to build a personal profile that enjoys trust and authority on the web. Gone are the days of gaming the search engines with manipulative SEO strategies. The web has become a much more genuine place.

April-May 2014

Intelligent SME

Digital Marketing

Facebook for Business: All you need to know Facebook has integrated into our lives. It has surposed personal boundaries and businesses today are increasingly using Facebook. It reported 1.23 billion users around the globe. Tish Tash gives a guide how to make a use of Facebook in your professional life.

acebook, along other social media platforms, is a critical part of integrated marketing for the majority of businesses today, including the SME sector. Small companies and startups, in particular, stand to gain a great deal, by leveraging their social media skills and strategies to reach critical awareness and engagement within

their market and communities. But, having a facebook Business Page is not just about covering the bases as far as social media is concerned. Itâ&#x20AC;&#x2122;s about expertly capitalising on the power of Facebook: understanding the behaviour and preferences of your customers and audiences; refining your engagement approach; and bringing innovative

ways to the fore. Facebook is deceivingly simple. The reality is that it takes a lot of skill to run a successful Facebook Business Page. Here, we share some tips and insights, starting with the basics.

Do you need to be on Facebook? Not every business should be

on Facebook, just because having a

April-May 2014

Intelligent SME

Digital Marketing Facebook page is free! Understand where your target market and audience are, and focus on the marketing channels and tools that will have the highest impact for your business. If you’re a marine services business operating in the Dubai Drydocks, Facebook will probably be a wasted effort. There are other marketing channels and social platforms you should tap into, for example LinkedIn.

Have you set clear objectives and strategy?

Using Facebook is just like using any other marketing and communications tool. You wouldn’t run a print ad campaign in the daily newspapers without a clear goal and strategy to reach your customers. The same rationale applies to Facebook: to begin with, know where your customers are, then set a clear goal and a strategy to reach them. For example, a day spa located in Media City, targeting women working and living in the area, set its goal to increase sales generated from its Facebook community by 10 per cent in three months’ time. Their strategy included a mix of content and promotional tactics, such as: daily mid-morning posts featuring 30–40min long treatments at special discounted rates that could be claimed throughout the day (including lunch time); daily consumer competitions mid-afternoon, encouraging fan & user interaction for a chance at winning pampering giveaways; and targeted Facebook ads on select days of the week. Setting a goal and strategy gives you direction for your Facebook marketing and a method to measure the outcome and the impact of your efforts. Facebook is pretty versatile and can assist with sales too, but it’s particularly useful when your goals are to create brand awareness and build a community of fans.

Can you make a first good impression?

Think of the Facebook page as a window display; this is the first thing that passers-by will see. So, pay attention to your cover image, profile image and about section. They need to be relevant and

Using Facebook is just like using any other marketing and communications tool. communicate clearly what your business is about; they also need to be compelling and memorable to warrant a ‘like’.

Does your Facebook voice match your business personality? Facebook conversations are

spontaneous and personable. While it is essential to have a pre-set company messaging, a fast fact sheet and a Q&A for easy reference, you need to bear in mind that on Facebook people expect a tone that sounds real and reflects the personality of your business. If you’re championing wellbeing, health, and an inner sense of happiness, like On Cloud Zen, your community will tune in for tips, advice and inspiration and would welcome the tranquil, meditative, reflective tone of your posts and interactions. Similarly, if you’re a removals and storage business, you should sound concise, helpful and efficient in your posts.

How do you assess content & consistency?

Facebook content is built on relevance, engagement (including

incentives) and frequency. Approximately. 50 per cent of all Facebook users check their page at least once a day. Hence, you should probably aim to post at least once a day too. But the golden rule is to post when you have interesting content, and determine how often your fans would want to hear from you. Random posts in terms of content and frequency will look unprofessional, whilst frequent posts will lead to fatigue. It takes a little practice, but eventually you can determine the formula that works best for your page. As for the quality of content, specialists advocate the 80/20 rule to balance the ratio between original content and promotional posts (those posts to do with your products, services, staff or clients). To make sure you strike a good balance, you can take a stab at creating a weekly content calendar which can give you a better perspective of the number of posts, and can make the content easier to manage, with the help of apps like Buffer or HootSuite, which allow you to publish and distribute content not only on Facebook, but also on Twitter, Google+ and LinkedIn.

April-May 2014

Intelligent SME

Cultural Diversity

It’s not what you know – it’s who you know… How do SMEs thrive and survive in the UAE? Obtaining the right financial backing? Yes! Having a product the market needs? Yes! Having the correct location? Possibly! Having a great website and SEO strategy? Yes, Yes, Yes to all! says Amal Loring.

ow many companies stop and think how do I adjust to the culture in the country? What is the best way to sell our product to 203 different nationalities in the unique UAE? If we are selling FMG then building a long-term relationship with a client might not be high on the agenda. If however, as an SME, you are here for the long haul, and want to not only survive and thrive in the UAE, you serious need to go back to the business plan and ask if your

executives are equipped. The old expression “it’s not what you know, it’s how you know” needs to be changed to, “it's what you know and even more important, to know who you know” In my experience, an increasing number of smart SME’s are equipping their executives with the required skills to manage complex relationships with range of different nationalities. So what is 'Cultural Intelligence' and how do you become “intelligent?” First of all, lets understand what Cultural

Intelligence means. There are many definitions, the one I believe best describes this is: “The ability to

create new cultural spaces to facilitate win-win solutions; by anticipating, correctly interpreting, and adjusting to the culturally defined behaviors of others.”

It’s not about forcefully to liking someones culture, and forgetting your own, it’s rather observing the other culture and adapting to make the necessary changes. In essence, the answer is

April-May 2014

Intelligent SME

Cultural Diversity Amal Loring, Founder of MBD, Inter-cultral Consultant, Trainer and Coach MBD partners with organisations to assist them in developing a wide range of competencies from 'Cultural intelligence' to building effective teams in a cultural diverse environment. MBD uses a wide range of tools and services to recognize the innate talents within.

straight forward, become a cultural learner rather than a cultural critic. You know the sort of expat I mean, the one that can be heard saying: “We don’t do it like that back home, we do it like this, and our way is best” or “they way they do it is strange”. The cultural learner on the other hand asks “that’s interesting why do you do it like that here, I would love to know how/ why“ Being a cultural learner means you, first of all, need to understand your own cultural or “world view“ point of view, before you can understand the view of others. Then things start to make sense. One of the tools MBD use as part of developing CI examines our “World View”. It helps to understand almost instantly the view of the world. If you were brought up with rules and regulations, how to avoid shame and enhance honor or whom you feared. Once you understand your cultural viewpoint, then you can understand another’s viewpoint, this then allows for a greater level of understanding in all aspects of business, in negotiation, conflict,

Many times expats come to the UAE to make a lot of money quickly and wonder why it doesn’t happen for them. management managing teams and sales. For an SME, recruiting the right staff is a serious matter. The wrong decision can turn out to be an expensive mistake in a small team. Especially if they are the face of your company. MBD has found that many people are making cultural mistakes because they are unconsciously incompetent, i.e. they don’t know what they don’t know. Potentially this can mean the difference between success and

failure in a market like the UAE, where people know each other and word gets around quickly. Often deals seem to drag on and never close, for some unknown reason. Yet to the cultural aware, the reason can be quite obvious; you have pitched your sale to the wrong worldview. Another dimension of culture, comprising 12 major themes, is relationships, framed as “Universal and Situation”. For example in the UK where I hail from, the relationship with the boss would be “situational”. We work together and that is it. I wouldn’t dream of inviting my boss to a family social event. Clients would almost certainly fall into the same category, perhaps a game of golf or two, but there would be clear rules and regulations. Now, fast-forward 17 years of living and thriving in the UAE, and my interactions are now “universal”. This means that it takes time to build a relationship, trust and reputation. The relationship extends beyond just the situation one of “John who supplies IT services” (situational) to John invited for Iftar, and other social events, John is part of now the extended social and family unit (universal). If John moves from his IT employer, the relationship with John and his client remain with him, moving away from his previous employer. Many times expats come to the UAE to make a lot of money quickly and wonder why it doesn’t happen. If they invested in the “universal” relationship, which does take longer, they would eventually enjoy the success they yearn for, or simply pack up and leave due to lack of patience. Investing in understanding the culture you are living in can make the difference between just surviving to really thriving and loving everything that UAE has to offer. It just needs patience and to be a 'cultural learner.'

April-May 2014

Intelligent SME

Corporate Governance

e c n a n r e Gov

Quality

Service Business regulator

risk Segment

Sale customers

Management

ownership

employees

remuneration

Laws

directors

Strategy

rights Vision

Focus

shareholder

transparency

Good governance is good for business Mark Fisher is Vice President, Corporate Communications at NASDAQ Dubai. He has worked as a solicitor in Hong Kong and the UK.

orporate governance is often presented as a series of dos and donâ&#x20AC;&#x2122;ts that seem like unpleasant chores, to be carried out because someone is telling you to do them rather than because you want to. So it is worth thinking about the subject from another direction, in which you list important achievements that you really want for your company,

or problems that you wish to avoid, and then analyse how good governance can help to achieve those goals. Looked at that way, good governance will naturally float to the top of any business ownerâ&#x20AC;&#x2122;s priorities, because it makes excellent sense rather than because there are boxes to be ticked. Here are some of the areas where

improving governance structures and processes can help:

Combating fraud More than 25%

of UAE companies reported being a victim of economic crime in a recent survey by PwC. That is lower than the global average of 37%, but this could simply reflect a lower detection rate in this region. Many kinds of fraud can be uncovered

April-May 2014

Intelligent SME

Corporate Governance or prevented by putting in place simple governance measures, ranging from ensuring invoices and payments are checked by an extra person to reassessing the physical security of your premises. If you remove the opportunity for people to be dishonest, then they can’t be – it’s as simple as that. The right governance processes will go a long way towards keeping your company safe from crimes ranging from bribery and corruption to cybertheft.

Mark Fisher is vice president, corporate communications, at NASDAQ Dubai. He has worked as a solicitor in Hong Kong and the UK.

Understanding your finances Many

small companies are less than rigorous in the way they record cash coming in and out, as well as what money is owed to them and what debts they must pay. Inadequate accounts procedures are often the result of rapid growth, which can overwhelm staff and processes that were designed for a smaller business. Business owners can then lose track of their company’s true financial state. Good corporate governance will put in place proper accounting and auditing standards so the owners can then understand properly what is going on in their business. This is also another way to minimise the risk of fraud.

Command and control A key aspect

of good corporate governance is to ensure that the right people are in charge, with appropriate checks and balances. This starts with the Board of Directors. If you can’t distinguish between Board meetings and family gatherings, then it’s time to bring in new blood, ie people whose qualification is that they understand your business, rather than that they share your surname. Some of these people should be independently minded, ie have the strength of character to look you in the eye and tell you that you’re wrong. Similar attributes are desirable in senior executives, who should also have clear reporting lines so that everyone knows who is responsible for doing what.

Raising capital An indirect benefit of good corporate governance is that it enables companies to raise capital more easily. Banks are unwilling to lend to businesses whose accounts they do not

A key aspect of good corporate governance is to ensure that the right people are in charge, with appropriate checks and balances. understand and whose Boards and management teams may not seem well suited to their tasks. Private equity firms tend to be even more rigorous before they will invest. And if you want to go for an initial public offering (IPO), which is an increasingly attractive option for many SMEs as their opportunities for growth improve, then good corporate governance is a must to satisfy listing requirements. By getting governance in order early on, you can dramatically cut the time it takes to prepare for an IPO when you decide to go for one, as much of the heavy lifting will be done already.

Succession planning This is one of

the most important, and neglected, aspects of good governance. If clear and practical plans are not put in place in advance for passing on ownership and control when incumbents move on, companies can succumb to infighting between heirs apparent, or drift aimlessly towards oblivion. So think of improving your company’s corporate governance as a means to achieving many desirable outcomes, rather than as an end itself. The steps you need to take will then seem like a pleasure rather than a burden.

April-May 2014

Intelligent SME

Corporate Governance

Corporate Governance for medium sized businesses Int e

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Accou nt

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Corporate Governance

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Strategic p

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There is a great deal written about corporate governance in the business world, in Dubai, in particular, Dubai SME in association with Hawkamah has provided some valuable input in this debate culminating in the recent publication of the corporate governance code for small and medium sized enterprises.

any commentators suggest that the adoption of good corporate governance by organisations, both large and small, will create a successful business. The lack of progress in

this area would indicate that many management teams are not yet convinced with all of the other problems that they face, this is an area that warrants any particular effort. But given that the financial crisis largely happened because

some business leaders did not appear to understand what was going on within their organisation; is this view sensible, particularly for companies that have been in existence for 5 years or more and have achieved regular revenues in excess of AED 10 million?

Fact: All Companies use corporate governance?

For those very few companies that are listed on one of the UAE stock exchanges, there is a raft of regulations on corporate governance that are required to be met by the directors of those companies. However, for the thousands of private companies there is no such requirement, so why is good corporate governance so important? Notwithstanding the sometimes academic way corporate governance can be described, the simple truth is that corporate governance is the skill used to run and manage an organisation that delivers products or services, which is not the same thing as being an expert in the product or service. The result is that in my view every company operates a corporate governance system to some degree or another. The pertinent question is therefore what skills are needed to operate the organisation so that it delivers the growth required by the owners and other stakeholders on a sustainable basis and therefore, should the leadership develop these skills further? Actually, for the majority of businesses that are happy to grow at the rate of inflation, there may in fact not be anything dramatic that needs to do be done. But, letâ&#x20AC;&#x2122;s look at some scenarios where changing your current approach to the management of your organisation might be beneficial, if not essential.

April-May 2014

Intelligent SME

Corporate Governance •

Management is tied up dealing with everyday problems so there seems to be no time to think about the future; • The delivery of your products or services is not consistent leading to complaints from customers; • The workforce does not seem to complete even basic instructions without constant supervision; • There are opportunities to significantly expand the operations of the company through organic growth or acquisitions and you need additional funding. • The owner is reaching retirement age and is thinking of an exit strategy or transferring the business to a younger member of the family. In all of these cases the organisation has reached a stage in its development that its survival is now pretty much assured and the issue is 'what to do next?' This is a common problem but for many business owners there is no real desire to materially grow their business beyond its current size because to do so risks everything that has been achieved so far, and, would begin to take the leaders into areas of business management (sometimes referred to as unnecessary bureaucracy) that they are simply not comfortable with. For these organisations, the focus on management in developing corporate governance skills should be to continually improve what the organisation does, so that the business remains competitive in your chosen market. However, for those business owners, and their management teams, that seriously want to grow their business and when I say seriously, I am talking about achieving annual growth rates in excess of 50 per cent, changes will be needed in the way the organisation is run and furthermore, if you are seeking outside finance, investors or banks may require it. How do you know what these things are? Well the answer lies in establishing a corporate governance framework.

A Simple Corporate Governance

Simon Hodges, CEO, Alchemy Network Middle East has recently launched the franchise network in the Middle East. Alchemy Network is a UK-based worldwide network of consultant partners, who work alongside owners and operators of SMEs to help bring them financial success, and eventually introduce them to systems that will relieve them from the mundane day-to-day running of the business,and allow them time to concentrate more on what they do best. framework

Set out below is a simple corporate governance framework that organisations might like to consider:

1. The Strategic Plan

The first action to take is to establish a strategic plan. Remember the plan is not for the owner. The plan is created to provide a map so that everyone else knows what the business is looking to achieve, whether they are customers, employees, suppliers or regulators. Make the targets specific and measurable. For example: I want to grow my revenues to US$50 million in five years and be operating in five GCC countries. Once you have decided the ultimate goal, the skills to achieve that become much more clearer

2. Clarify the roles of the senior members of management

Establish the roles of each member of the senior management team and then consider other key employees as far down the organisation hierarchy as possible. The reality is that as the organisation has developed over time, individuals agree to take on new tasks to meet a specific need. While these tasks are seen by the individual as temporary, over time they become the expected norm but without the necessary buy-in from individuals. This needs to be addressed

3. Management Body

Now that you have identified the roles, you need to create a team of senior executives that have the range of skills necessary to make the product or service. They have to be capable of the supporting organisation in such areas as finance, sales and marketing, HR etc. all of which will

be needed to deliver the strategic plan. This team should make the time to meet once a month to review progress against the plan. Depending on the size or complexity of the organisation, it might be helpful to have an outside mentor to help the team in its professional development in managing organisations.

4. Accounts

There are two sets of accounts. First there are the financial accounts that provide a picture of where the organisation has been, and these are audited. Second, are the management accounts that forecast where the organisation is heading based on activities and market research. Most organisations need both skills but many only think about the financial accounts.

5. Internal Controls

Many entrepreneurs do not like to grow their organisation because they fear losing control over it. By establishing effective internal controls that examine the events that could potentially prevent the completion of the strategy and establish processes that mitigate the effects of these events, the leader retains control over their business without having to be there all the time, thereby freeing up time to concentrate on building the business further.

Conclusion

Good corporate governance is not about compliance with regulations or any form of guidance, it is about understanding how to make the various elements of the organisation that are required to deliver the strategic plan work together, and then to establishing monitoring systems to make sure expectations are being delivered upon. Good luck!

April-May 2014

Intelligent SME

Human Capital

The truth about the first-mover advantage While there are many perks and gains to being the first in the market, there are also a wide range of implications that cannot be neglected, especially when it comes to human resources.

eing the first to enter a new market, offer a new product or a new service is the foundation of many companies’ business strategy, and is considered one of the most effective ways to achieve the kind of advantage that will put your business miles ahead of competitors. Entrepreneurs, startups and small businesses in particular, seem to focus these days solely on bringing innovation to the fore, as the secure path to success, thinking that the first-mover advantage is a strategy in itself and can help consolidate their position whilst staving off competitors. But success in any new business is not all about being the first; it’s about good timing and adequate planning, scalability and objective assessment. Let’s not forget the bottom line is profitability, not how attractive the premise of your business sounds. What is less talked about on the topic of the first-mover advantage is the cost and the risk associated with being first in the market. And that’s what we’d like to look at. Most of the times, being the first in the market can be very costly because it may involve significant investments on your part, mainly in enhancing your capabilities – not just production or technology, but talent as well. Our company, was the first to launch (just a few weeks ago), a webTV platform that streams the most diverse premium video content in Arabic language. The digital landscape in the region has grown by leaps and bounds in

April-May 2014

Intelligent SME

Human Capital Rudolf Jabre and Zoya Sakr Jabre are the founders of Online Lifestyle Network (OLN)

the past years, and that brought about many opportunities for digital service providers and publishers. In short, we found our niche, we found a market segment where other - perhaps bigger players - were out of step with audiences, brands and advertisers, in the sense that their needs and expectations had changed so much that larger agencies and publishers could not adapt as fast. We had a very short window of opportunity in which to scale up our business in order to be able to produce, package and distribute our content. Almost immediately, we learnt that the first-mover advantage is not just about getting there first. The speed with which you launch into the market is only half the story. The true market advantage needs to be consolidated with resources: people and knowledge. People are essential to scaling up a business, especially a creative or services based module. Usually, smaller companies tend to delay hiring new talent into their team, because of the high costs, or because they feel their business is not stable enough. Instead they try to cope with their workload for as long as they can. Of course this approach is bound to bring the entire team to exhaustion, and sooner or later failure. There’s no two ways about it: you need a recruiting and hiring strategy.

Here are two key factors to consider. Plan ahead

Easier said than done, we know. But you need to consider ahead of time the skills mix you require for your company’s development and seek actively the right people. This is not about collecting CVs, but meeting the people of interest face to face and getting to know them, so you could assess not only how experienced they are, but their personality and attitude which can determine whether they could be a

Providing a good work environment is key to retaining your staff. good fit for your company. In our industry, specifically, it is rather difficult to come across people with the most advanced skills set and experienced enough (three to five years), people who are able to work independently at a fast pace. By drawing up a shortlist of vetted, potential employees, you have a better chance of finding the right talent available when you only have a few weeks or days to hire, and you need someone to hit the ground running.

Foster a good work environment

Recruiting and hiring is a

crucial step in a small company’s growth, but HR is much more than that. Ultimately you need a systematic approach to HR - processes, procedures and systems in place, no matter how basic. This is instrumental because it helps you create an environment in which your staff feel content and appreciated, in which they can thrive and help your business succeed. Providing a good work environment is key to retaining your staff. As a first-mover in any market you’re in a vulnerable position as far as talent is concerned, because other companies will follow and compete with you. Most of the times competitors will be able to replicate your product or service with high fidelity (and even improve it), but they will also poach your experienced staff to impart their knowledge. For a small business, losing talent is the highest risk and the biggest first-mover disadvantage, and it should be your key concern and motivation for building not just a great company, but a great company to work for.

April-May 2014

Intelligent SME

Insurance

Non payment premiums what do you need to know?

When taking a life insurance policy, many busy SME owners want the ‘cheap and cheerful’ policy and a often not so ‘professional’ sales agents, who does not want to ‘complicate’ the sale, will skip the important parts and will promise to do the needful. You, taking the policy, are relieved of the nitty gritty and when you receive the document promptly shove it into a drawer to be read later.

remiums, we all know this one, so let’s look at Non Payment of Premiums. If any premium remains unpaid what is the grace period? What happens after the expiry of this period? Will the policy be automatically paid up with benefits remaining in force? If the Policy has not acquired a cash value it will lapse? Can you reinstate from lapse that is restart a policy, which

has lapsed without value? Can the policy be reinstated without medicals? If the policy owner has in the interim acquired a health issue how will this affect the premiums, covers etc? Will you have to make all back payments?

Premium holiday is a good option so please confirm that it is available on your policy. (Does

not apply to term policies) You

may request, in writing to the insurer, a premium holiday for a specified period of time. This will normally be granted only when the compulsory payment period has been completed and the allocation to the policy account is assessed to be sufficient to sustain the benefits for at least the requested duration of the premium holiday. If payments are not restarted after the specified period, the policy

April-May 2014

Intelligent SME

Insurance will automatically go into what is referred to as paid up status. Any reinstatement is at the sole discretion of the insurer.

Paid Up Policy (if facing a cash crunch). As policy owner can you

at any time (when your policy has a cash value), elect to make the Policy Paid Up, which means no further premiums will be payable? Will your life cover and any additional benefits continue, and for how long? Can a Paid Up Policy be reinstated (provided the policy has not lapsed) by recommencing payment of premiums? What is the time period and will you be subject to medical? If any anomalies found, will the insurer rate your policy i.e. increase your premiums for the same covers?

Is there an option for encashment of your policy? In addition to life

cover and airplane cover, what additional benefits can you choose to include on your policy. I have listed the four most useful covers.

Critical Illness Benefit, Dismemberment Benefit, Permanent Total Disability Benefit and Waiver of Premium Benefit.

Barring the last all 3 benefits provide a lump sum payable on an accepted claim following diagnosis by a Doctor acceptable to the Insurer. â&#x20AC;&#x153;doctorâ&#x20AC;? means a legally qualified and duly licensed medical physician or surgeon who is not the life insured or a close relative of either the life insured, the Joint life insured or the policy owner! Ask for the list of critical illnesses covered. For all of the above confirm: What you need to provide as proof that the insurer considers satisfactory before payment of any claim is honored? When must you notify the insurer of your claim? When will the benefits commence? Airplane Cover found on most insurance policies even on CC insurance. This is an additional benefit offered free by international well-reputed providers. It generally provides an additional lump sum payable on the death of the life insured directly, solely and independently

Sandi Saksena is a financial planning counsellor with over 15 years experience in advising on life, disability and critical illness insurances. She focuses on exit planning for SME owners, working with accountants and lawyers to provide holistic solutions. Sandi can be contacted by email (sandra. saksena@nexusadvice.com) or by mobile (0506517963). of all other causes from bodily injury effected through external, visible and accidental means within a specified time of an aircraft accident occurring, while the iife insured was a fare paying or ticket holding passenger, mounting into, dismounting from or travelling in a fully licensed aircraft of a recognized airline or charter service. Accidental Death Benefit put in by most insurance agents provides a lump sum payable if the life insured dies as a direct result of an accidental bodily injury. However, please note that if death occurs as a result of which airplane cover is payable, then the accidental death benefit sum insured may not be payable. Policies can be issued as single life, joint life first death or both lives basis. Single life basis - on the death of the life insured Joint life First death basis on the death of the first life insured to die Both lives basis - on the death of each of the insured, first and second life insured to die As many of you travel on business to, what are considered areas of active war risk and passive war risk please ask your consultant for

Accidental Death Benefit put in by most insurance agents provides a lump sum payable if the Life Insured dies as a direct result of an Accidental Bodily Injury.

an explanation of the conditions of cover, travelling to, residing in or within the territorial limits of any country listed in the table of passive war risks and active War risks. All insurers reserve the right to make an additional charge under exceptional circumstances to reflect any increase in risk to them due to changing circumstances in a particular country

Designation of Beneficiary/ies

Please clarify and confirm as insurance companies have different rules. At the very least the beneficiary must be a named individual adult or body corporate but (with the approval of the company).

Can you as policy owner designate a second or subsequent individual adult or body corporate who will be entitled if the first or others designated in priority as beneficiary shall not survive for the specified period after the occurrence of the relevant event.

Can you as policy owner change

the beneficiaries and amounts they shall receive?

Find out if, at the time of death of the life insured under the policy there is no beneficiary living then the amount payable will be paid to the policy owner or his estate. Also, if any beneficiary then living shall fail to satisfy any conditions of the beneficiary designation (such as a period of survivorship) and there is no other beneficiary then living entitled to the amount payable, it will be paid to the policy owner or his estate. Was that heavy reading?

Nothing in comparison to what you may go though if you or your beneficiary will have to go through just because you thought but did not clarify and confirm what you signed up for.

April-May 2014

Intelligent SME

Start Ups

Just how successful are you? After months and months of preparations, your business is finally up and running. Here comes the big question: will you be successful? And even more importantly, how will you be able to gauge the real measure of your success?

ne of the most frequent questions I get asked by new start-ups and budding entrepreneurs has to do with success: What is the secret to success? what factors impact the success of a business? What traits must successful business owners have? And so on. Evidently, success is top of mind for all business owners, and rightly so. When you put all your resources in your business, you want to be reassured that in the end, after all the blood and tears, you’ll be beaming with joy and pride. So, how do you make sure you’re headed for success? After all, there’s no prescribed

step-by-step handbook you can follow, there’s no line manager to perform your quarterly assessment and provide you with a personal development chart; it’s all up to you. The most common thing people associate success with is money, hence the most repeated piece of advice you’ll receive is to keep a close eye on sales, expenditures and profits. There’s a good reason for this. A sales sheet shows you black on white how your business is doing, and gives you valuable insights about the value of the products and services you sell, the products or services which are most in demand - pointing

to any new opportunities or any corrective measures you must take. It also allows you to keep track of your cash flow, deduct the production costs you incur, the operating costs your business requires regularly and the profit you make. Moreover, it enables you to make projections for sales and revenues. The second indicator of success frequently invoked is the customer base. How many customers do you have? Who are they? What is their impact for the short and the long term growth of your company? These are all sensible considerations to keep in mind while assessing your company’s

April-May 2014

Intelligent SME

Start Ups performance and determining rate of success. Any business starts and ends with customers. So, it’s vital to get to know them, know their requirements and learn how to determine what their requirements will be in the future too. Unquestionably, financials and customers are two very helpful indicators in assessing the state of your business, but as accurate and factual a picture they may give you, they can’t capture the full picture and they can’t give you a perspective, from which you can truly measure success. In my opinion, the true measure of success is selffulfillment. People who start and run their own businesses, have motivations that go deeper than a steady income or financial security, they thrive on the sense of freedom, control, willpower, accomplishment and enjoyment they get from doing their own thing, being their own boss and reaching their full potential. Their perspective about success is shaped by their needs, ambitions, motivations and visions for themselves and for their businesses, and, most of all, by the experiences and the lessons they pick up along the way. The true measure of success is rarely the end result in itself: your business, your services or your clients. It’s the knowledge you have accumulated in the process, the awareness you have developed, which combined account for your experiences. Learning, knowledge and experience are more valuable than success on paper. Business success is not about sticking to your original plan, but making the original plan better, by overcoming real life challenges, mitigating crisis and dealing with losses, being adaptable and thinking on your feet. In doing so, you learn about the marketplace and the industry you operate in, you test and hone your skills. Business success is not about the number of acquired customers either. The number in itself is irrelevant. What matters is understanding what appeals to your customers. Is it your quality services? Your competitive prices? Or perhaps the valuable relationships you have created?

Neil Petch is Chairman of Virtuzone, one of the most dynamic and fastest growing company set-up operators in the region.

Business paln

Business success is not about sticking to your original plan, but making the original plan better, by overcoming real life challenges, mitigating crisis and dealing with losses, being adaptable and thinking on your feet.

(And, equally important, you need to understand what doesn’t appeal to your customers. Business success is about firsthand experiences. Understanding your customers, being able to determine their needs and structure your services or products in a manner fitting to them is crucial to the strength and endurance of your business. Get as much feedback as possible, and try to channel it in your products and services. Awareness and knowledge mean collecting feedback that may not always seem fair, but, despite that, you need to weight it in, put it to use, and create something better. So, the next time you want to measure your business success, set aside the financials and the customers’ reports, and instead think about how much you’ve learned and whether you feel fulfilled.

April-May 2014

Intelligent SME

Leadership

Do you act like a Big Boss, or a Giant Leader? Anybody can be a boss, but it takes a totally different approach to be an inspired leader. Are you planning a start-up or already the captain of an SME? You will require resources of course, your business plan, capital and perhaps a few or many hands on deck to get your show going. So ask yourself the question, before you begin to recruit the very people who will carry your flag everyday, what will be in it for them? If your answer is merely a job with pay, you might want to check your calendar as the 19th Century is well over. 72

April-May 2014

Intelligent SME

Leadership

n the real world, today, employees are looking for more than a job, and much more than the pay they are being promised. They want to find a place they can fit into, a place to call home where they can grow and prosper. Unless they have just left school and have zero job experience, they will come on board with some reservations and expectations. Many will bring with them a suitcase full of issues and memories on why they left their previous employers, which may not have been fully, disclosed when they joined. Being the boss is an eminent responsibility of the chief executive or owner however; it is a not diplomatic immunity for being disrespectful to staff, unkind, or arrogant. The role of the New Age leader today is to support, inspire and be the spark of enthusiasm that brings people to work every day for an adventure. The definitions of boss vs. leadership do not equate to being synonymous; they are in fact sometimes, on opposite sides of the scale. This holds true in particular if you have any team members in a customer-facing role that could beam unconsciously what is like to work in the dungeon. On the other hand, it’s fairly easy to see why a customer would feel confident to do business with someone who seems to radiate that they love their job and their company, the hallmark of a nurturing leadership practice in motion. This also ignites a spark in the customer that could inspire them to suggest the company to a friend who is looking for a great company to work for.

The leadership traits that employees admire the most are:

A great and attentive listener Someone who does what they say they will do A person to be respected for their integrity Shows real appreciation to others Inspires people to want to achieve more Instills confidence in others Able to communicate a shared vision about the real mission and a higher cause.

Michael J. Tolan is a speaker, writer and corporate mentor and board advisor to several organisations. He is the creator of Mission I’m Possible series of motivational workshops through FirePowerLeadership.com and is the Chief Inspirational Officer of the World Class Academy of Excellence (Follow him on Twitter mtolan@worldclassgroup).

The role of the New Age leader today is to support, inspire and be the spark of enthusiasm that brings people to work every day for an adventure.

Of course being an examplary leader does require mastery of patience, devotion and dedication to excellence, humane people skills and above all humility. Any business leader who devotes themselves to these ideals will have scores of prospects banging their door to join the organisation. Therefore the question on whether or not new leaders today can prosper over the backs of others is answered, that is yesterday’s news. The leaders of today who take charge of themselves, their interactions with their key human assets will win and retain respect from everyone around them. This is not to say that there will be parameters and performance

accountability because the business has to function as a whole unit. However, the leader with the winning skills will be more human and less like a scary ogre, as the monsters - bosses will always be the loneliest. Of course this common sense approach to leadership today is not as new as it sounds. Remember the old saying that you ”catch more flies with honey that you do with vinegar?” The basics of every human today are the same. According to Maslow and his hierarchy of needs, meeting the primal need of security is a basic fundamental human need. The inspired leaders provide this in their ecosystem by their very attitude and behavior. This allows them to unlock the next level of providing self-esteem and appreciation. Once a team member has received this ‘blessing’ from their leader, it is doubtful that will hit the job pages anytime soon. However, the boss who retains their arrogance and ignores the needs of their team members will surely always feel lonely at the top, particularity if they themselves are at the bottom of the good leadership scale. Leadership is a gift as well as a responsibility. We can all learn from the great examples from history or right here in the present day. Leaders take responsibility for their actions, moods and intentions. The choice is yours - either race to the top of the great leadership scorecard, or hold your hands up and blame the world. And remember, yes, it is sometimes very lonely at the top, but be sure, it’s really very crowded at the bottom. Be a Giant! Lead on.

April-May 2014

Intelligent SME

Leadreship

Energizing your SME performance When you are an SME you are facing many external challenges such as economy, competition, suppliers, banks lending restrictions, market conditions and much more, this is not to say that internal challenges are less or not significant; challenges such as management, capital, cash flow, employees, capabilities and internal process. SMEs internal challenges can mean the difference between success and failure, the internal strengths or lack of internal challenges can also mean power to overcome some of the external difficulties.

t is not good enough to talk about the challenges and obstacles faced by SMEs, we need to talk about ways to improve the output of SMEs, increasing the productivity and enhancing the process within the SME itself, to do that we should start with SMEs performance; working with SMEs for many years I can suggest few small steps that can have great effect on energizing your small and medium enterprise performance, those steps can be summarized in the following:

Leading by Example: the most critical part of management for SMEs for the person in charge, the manager, the leader of the SME to lead his troops by setting a good example, the business leader should be involved with his team, should demonstrate to his staff good work habits, good customer service, attention to details and follow up on all matters, SME leader (I mean the ultimate decision-maker, not necessarily the person with a title of the manager. In most cases in this part of the world, the managers cannot make any decisions if the owner is involved. The owner can say or think any thing he likes but that will not change what the staff think of him. As the business leader he should pay attention 74

April-May 2014

Intelligent SME

Leadreship on the way he as the owner by managing the business. Giving someone a manger title does not make him the true manger) must by an example for the staff to follow in the way they do things. Leading by example means the business leader truly care about the success of his business, means driving the business, ensuring the business output in which as a result increasing the performance of the business.

Employee Engagement: this comes

as a natural step if you are leading your SME team by example. It is not enough to ask your employees to get involved or be involved, you as the manager you need to make all efforts to get them involved in the business through daily or weekly small meeting, showing them what to do and how they can do things better, by following up on them, by installing pride and integrity in themselves, by feeling proud of getting things done, by appraising good performers, by thanking them when doing good work, by catching them doing something right and simplest way to getting employees engaged in the business by asking them their opinion and thoughts and by using the good ideas. The greatest way of getting employees involved more in the business is by empowering them: more power means more responsibility.

Zed Ayesh has over 20 years’ experience in management and business development. He is currently the managing director of Flagship Consultancy based in Dubai, and works with clients on many aspects of the business from strategic planning, business development, marketing strategies, pre-sales and sales management, across different sectors such as government agencies, real estate, media companies, manufacturing, contracting, engineering firms, retail and shipping companies.

The greatest way of getting employees involved more in the business is by empowering them: more power means more responsibility.

Planning: one of the best advice

Talented Employees:

in any business some employees will rise above the other team members, they perform better, they become more responsible, those stars can make all the difference in a small business they can become the engine of that business, recognizing such employees by praising them particularly in front of other fellow employees will get more out of them and more out of the others. Those star employees can become the new leaders of the business, they can carry much of the operational burden of the business upon themselves as they recognized and appraised for such efforts: self-fulfillment of an employee can energize a whole organization not only

less staff to do the same thing, which means more productivity and better performance. Business process automation for SME does not mean giant computers, big servers and complicated technology, business process can be automated by simply understanding your business and come up with logical way of doing things the shortest, practical way without sacrificing the quality of the end product. Business process automation in SME can be better described as smooth business flow.

the employee.

Technology: whenever possible

SMEs should use technology, which can create the difference from one business to another, it also will create more opportunities to out perform other business, SME managers should seek every possible way to use technology and to automate any or all parts of the business process, which can free the employees do other things, or more of the same thing or by using

I got in my professional life was many years a go when I was fresh out of collage with my first job in the USA, I worked for one of best managers in the America in out sourcing business; when we worked side by side me and him, he used to tell me that if you want to outperform other managers you always have to be ready, I used to ask him how one can be ready all the time; he used to smile and say: you need to run your branch by: “just in case” and “ you never know” then he explain after saying that: do things in way “just in case” this thing happen or that thing happen; or do your job as you “never know what happens” being ready is what make you better than the other guys, which means better planning and better execution because you don’t what happens next, who will show up to work or who will be sick the next day, if you send an email follow up “just in case” the email don’t reach the recipient, turn the computer off at the end of the day “you never know” if someone can access it if it is on while out of office, come to work early “just in case” traffic is jammed, don’t burn bridges with any one “you never know” when you need it.

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Events Calendar

Networking opportunities Important business events across the region WETEX 2014 Date: 14.04 – 16.04.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre The Water, Energy, Technology and Environment Exhibition (WETEX) is back again this year to highlight the importance of sustainability and a green economy through the latest technologies and management solutions. The Dubai Electricity and Water Authority aims to reduce energy consumption by conserving our natural resources and finding energy-efficient renewable solutions. PALME 2014 Date: 15.04 – 17.04.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre Now in its 11th year, PALME continues to occupy a key position in the global trade show circuit and provides the Middle East with its own unique industry forum. This is where visitors will be able to meet with over 200 exhibitors, find the latest audio and visual components and explore cutting edge technology in the field of lighting, audio and sound. There are also opportunities for the public to take certified courses on audio/visual implementation. SMART SKYSCRAPERS SUMMIT 2014 Date: 28.04 – 29.04.2014 Venue: Sofitel Hotel, The Palm The Smart Skyscrapers Summit

2014 highlights the importance of engineering and architecture as urban planning is becoming increasingly significant. International, regional and local senior architects, engineers, policymakers, developers, contractors and building managers will be attending this unique event to network and expand the knowledge needed to develop skyscrapers in the Middle East region.

Indian Subcontinent with the latest technologies and solutions from around the world. The Airport Show is held under the patronage of H.H. Sheikh Ahmed bin Saeed Al Maktoum.

ARABIAN TRAVEL MARKET 2014 Date: 05.05 – 08.05.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre

Now in its 14th year, Cards & Payments is once again showcasing the enabling technologies behind payments and identity innovation for the public to evaluate, buy and ultimately improve their businesses. With new services and products coming onto this lightening paced market every minute, this expo is a must attend for those in the field of smartcards, payment and ID cards.

Arabian Travel Market (ATM) is the leading international travel and tourism event in the Middle East for inbound and outbound tourism professionals from across the globe. ATM attracts highlevel decision-makers and buyers representing every aspect of the leisure travel industry. THE AIRPORT SHOW 2014 Date: 11.05 – 13.05.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre The Airport Show is the leading airport dedicated event in the Middle East and North Africa and one of the largest airport related exhibitions in the world. This show began back in 2001 catering specifically to the Dubai International Airport expansion and has since evolved into a pivotal B2B aviation industry event providing the MENA region and

CARDS AND PAYMENTS ME2014 Date: 13.05 – 14.05.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre

20th GCC EGOVERNMENT AND E-SERVICES CONFERENCE Date: 17.05 – 21.05.2014 Venue: The Ritz-Carlton Hotel, DIFC Marked as the largest eGovernment conference in the region, the 20th GCC eGovernment and eServices Conference aims to encourage innovation and elevate the standards of implementing a strong eGovernment framework to pave the way forward to global competitiveness.The conference also aims to close the gap between digital society and the government by discussing different issues on eGovernment platforms and benchmarks. Another focus will be on eTransformation, where

April-May 2014

Intelligent SME

Events Calendar

Networking opportunities Important business events across the region discussions will take place on how smart organizational transformations promote smart governments based on the latest strategies. SMART DATA SUMMIT 2014 Date: 19.05 – 20.05.2014 Venue: Sofitel Hotel, The Palm The Smart Data Summit 2014 will be attracting top executives from the GCC and international speakers. The event will include keynote presentations, panel discussions and roundtable sessions that will discuss and explore different areas such as data processing, data mining, privacy and protection and more. MIDDLE EAST EVENT SHOW AND AWARDS 2014 Date: 20.05-21.05.2014 Venue: JW Marriot Marquis Hotel The Middle East Event Show 2014 is the events and entertainment industry's go-to programme that exhibits event management equipment such as lighting and sound, temporary structures, fireworks and pyrotechnics, decorations, props and designs and special effects. It is also a place where the industry can network with others in the field and build successful and lasting relationships. This is the only dedicated exhibition of its kind in the MENA region. BEAUTYWORLD MIDDLE EAST 2014 Date: 27.05-29.05.2014 Venue: Dubai International

Convention and Exhibition Centre – Dubai World Trade Centre

On the world stage, few trade events can match the impact and influence of Beautyworld Middle East on the beauty industry, where thousands of forward-thinking business visitors come together to look for products and services that global exhibitors have to offer. Over the 17 long and fruitful years since its inception, the exhibition has evolved steadily –but surely – into a one-stop representation of the global beauty, fragrance and wellness industries for the wider Middle East region, and has played a pivotal role in their growth and development.

Hospital Build is one of the fastest growing business-tobusiness platform aimed at bringing together commissioners, investors, backers and managers of healthcare-related building projects, with major players involved in planning, designing, construction, operating and managing and refurbishment. The exhibition displays latest technologies and innovations in hospital design, and will bring together industry leaders from across the region. It offers an opportunity for professionals in the Hospital Build industry to form new business, discuss and develop new innovative techniques, and learn more about this evergrowing niche sector in healthcare community, in a focused business to business environment.

MIDDLE EAST SPORTS EVENT SUMMIT 2014 Date: 2.06-04.06.2014 Venue: The Address Hotel, Dubai Marina The 2014 Middle East Sports Event Summit will bring together sports event professionals from across the region, including case studies from international events. Sports are an important part of economic growth and development of this region and managing sports events are an endeavor many organizers must face. This event aims to help organizers capitalize on their events by providing practical advice for delegates. HOSTPITAL BUILD AND INFRASTRUCTURE MIDDLE EAST 2014 Date: 2.06 – 4.06.2014 Venue: Dubai International

AUTOMECHANIKA DUBAI 2014 Date: 3.06 – 5.06.2014 Venue: Dubai International Convention and Exhibition Centre – Dubai World Trade Centre This is the Middle East's leading international trade fair for the automotive industry targeting trade visitors from Western Asia, Eastern Europe, the CIS and Africa. Automechanika Dubai is geared up to supply intermediate markets, offer a trading link to markets difficult to reach and is a good platform to find out more about new products, find new suppliers and compare product alternatives.

April-May 2014

Intelligent SME

Column

Delivery and commitment correlation Utpal Bhattacharya on how good leadership can make all the difference to the quality of delivery in a project.

phrase that most would not be familiar with, as it is a very personal one that I keep on murmuring to myself while delivering projects is â&#x20AC;&#x153;full commitment and super deliveryâ&#x20AC;?. But the principle itself is not unknown to some of the best service providers, especially those who donâ&#x20AC;&#x2122;t have much else to offer compared to competition. Delivery is such a key factor to success in the long-term that even if circumstances are adverse, it is bound to give positive results and incremental business. However, the opposite is also true, especially when a company has all the resources, and yet it falls short while delivering. One can fall from grace pretty quickly even if one is a large player if one is not delivering or finishing well. Last year, I was working with a large company on a small communication project. I watched this episode from a distance as I worked on my project independently. They were to implement an enterprise solution at a government institution. I had met the account manager who had done the selling of the solution. He was a brilliant salesman, who could, probably, sell you a stick for a golf club. But post-sales, the delivery did not go down well, and implementation was a nightmare. The company nearly got sacked, and had to spend a lot of money to hire better skilled people, replacing some of the earlier ones to implement the solution. Yet, the company may not get another job from this government institution, at least

until the present management remains at the helm. The quality of leadership plays a very important role in successful delivery. If the team leader is not sound or lacks a sense of responsibility, then there is every possibility of a botched work. Many years ago, I was involved in the publishing of an Arabic brochure. As would be expected I was dependent on the person who was head of the Arabic section. Unfortunately, for him this particular project was not as important as it was to me. The inevitable happened, as the quality of work came out to be shoddy with the client feeling unhappy. The situation left me with no choice but to take a hard decision, and I chose a young, un-tested,

The quality of leadership plays a very important role in successful delivery. If the team leader is not sound or lacks a sense of responsibility, then there is every possibility of a botched work.

Summing up

but professionally competent person from the team itself to replace the section head for this particular project. This young man took the opportunity given to him seriously, spent time to undo all the mistakes of the earlier effort, worked day and night and delivered a very successful project. He worked with the same team that had made terrible mistakes while delivering the same project a week ago. It was just a small tweak at the leadership level, and we had a brilliant outcome. The client went happy and we had more work on our way. Of course, the young man was promoted, and he continued on his successful journey. Today, he is in the leadership team of a global IT company, undertaking complex projects successfully. The moral of the story is that one cannot achieve efficiency in delivery of any project unless there is good leadership showing commitment.

Fadi Fallaha Fallaha Brothers FZT Majed Al Mehairi Pyrosafe Technologies

Janine Croft & Paul Gledhill XpertLearning

Kamal Majeed Dalmon Star

Hikmat Wehbi W-Studio Nicole Rodrigues Diva Modelling & Events

Premnath Shetty Heat Shield FZC Jamil and Shemi Gulf First Shipping & Logistics LLC

Mario Economides Majestic Marine Engineering LLC-FZE

Tarek Ghaddar Rich Motors

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