ISSUE: 30 │ Feb - March 2016 Strategic SME Partner
16 DUBAI HONOURS
TOP 100 SMEs Dubai SME identified top-
performing 100 SMEs in a bid to help them grow.
46 VISION 2016 FOR TOYOTA IN THE UAE
Enabling Global Ambitions 52
Roberto Da Silva talks about the company's hybrid technology push.
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THINK TANK Ajay Bindroo, CEO & Managing Partner, Clasico Brands Within a span of 18 months, Ajay has established a global venture that caters to consumer goods ranging from beauty and Personal Care, Grooming products to Oral Care, Bath and Hygiene, Hair Care and Homecare products. Under the flagship brand of “CLÁSICO BRANDS” over a dozen brands have been created and are in the process of being launched worldwide. Ajay is a true visionary with a big-picture. He's the one who makes sure that the company's concept and strategies are the right ones and that "we're staying on track."
Akram Miknas, Chairman and Founder, PROMOSEVEN HOLDINGS B.S.C.C. (P7H) Akram Miknas is known to be one of the pillars of modern marketing communications in the Middle East. He has just been recognized as No. 3 in the Middle East’s 50 Most Powerful People in Media, Marketing and Advertising. His involvement in real estate development, especially after the successful completion of the Pearl Towers (Abraj Al Lulu), anchored him as a leading accomplished developer in the Gulf. In early 2000, he branched into the hospitality business and successfully managed and built several hotels and outlets in Bahrain. His success in this business was crowned by becoming the franchisee of McDonald’s in Lebanon; where he built the business from 7 restaurants to 26 restaurants in 5 years.
Alexandar Williams, Director, Business Development, Department of Economic
Development (DED)
Alexandar Mathew Williams is presently the Director, Business Development, Department of Economic Development (DED), Government of Dubai. He has logged more than 20 years’ experience in SME development and business creation. His interests are focused on the life cycle dynamics of firm growth and mentoring entrepreneurs. In his present job, his main role and responsibility is developing a new initiatives for DED to take it to the next level as a knowledge-driven economic development agency.
Deepak J Babani, CEO, Eros Group Deepak J Babani has been with Eros Group for over 30 years. Mr. Babani has spearheaded the growth of Eros Group from a turnover of Dhs 6 million in 1981 to over Dhs 4 Billion in 2010. Under his leadership, Eros Group has established itself as the leading distributor for Consumer Electronics, Home Appliances, Telecom, IT and Air-conditioning products in the UAE, GCC and East African regions. Mr. Babani joined Eros as Marketing Manager and was promoted to General Manager in 1988 and subsequently to CEO in 2002.
K. Rajaram, CEO, Al Nabooda Automobiles K. Rajaram has more than three decades of experience in the automotive industry, starting his career in Oman in 1983. He moved to the UAE in 1996 to lead Al Nabooda Automobiles, the exclusive dealer of Audi, Porsche and Volkswagen in Dubai and the Northern Emirates. Under his leadership, Al Nabooda Automobiles has changed the face of the UAE automotive market by setting the highest benchmarks in customer service and pioneering the automobile ownership experience.
THINK TANK Mishal Kanoo, Deputy Chairman, The Kanoo Group Mishal Kanoo serves as the Deputy Chairman of The Kanoo Group, one of the largest, independent and longest running family owned groups of companies in the Gulf region. He is also one of the most iconic business figures in the Middle East, featured on various magazines and listed in ‘Top 100 Powerful Arabs 2013’, ‘The 15 Wealthiest Arab Businessmen in the World 2012’, among others. Subsequently, he worked at Arthur Andersen in Dubai as an Auditor before taking up his current position in 1997. Mishal Kanoo adheres to family values and ideals in pursuit for quality and excellence which therefore greatly influenced his corporate policies and goals for The Kanoo Group as a reputable company.
Paras Dhamecha, Executive Director, Empire Aviation Group FZCO Paras Dhamecha serves as Executive Director of Empire Aviation Group at Air Works India (Engineering) Pvt Ltd. He managed the overall company start up process and has successfully helped grow EAG into a profitable Aircraft Sales and Aircraft Charter business which manages one of the region’s largest fleets of private jets. He is an experienced, qualified jet pilot with an accomplished background in management and finance. He has managed to combine his career experience with his personal and professional passion for aviation, to create successful private aviation businesses in the Middle East. He was a full time pilot in the competitive US business aviation environment. His career includes stints in corporate finance and financial management with organizations like AIESEC and GE Capital in the US. He completed his Bachelor of Science in Management (in Finance and Economics) from Purdue University, Indiana, USA
Rizwan Sajan, Founder & Chairman, Danube Group The Danube Group was founded and established by Mr. Rizwan Sajan in 1993. Over the last 22 years, the group has come a long way since its humble beginnings of a small trading shop in Deira to being the region’s leader in construction, building materials, home interiors and shop fitting industries. The head office & logistics facilities are present at the Jebel Ali Free Zone (JAFZA). Danube has coursed a path that transformed only one shop with 3 employees to over 40 locations in 9 countries worldwide including UAE, Oman, Bahrain, Saudi Arabia, Qatar, Africa and India, in addition to procurement offices in China with an employee strength of over 2,200 people. Being a top ranking business icon, Mr. Rizwan Sajan has been a source of inspiration for driving Danube’s business by leaps and bounds.
Tarek Hajjiri, Director of Legal Policy, Dubai Economic Council Tarek Hajjiri is the Director of Legal Policy, one of the strategic operational arms of the Dubai Economic Council (“Council”) Government of Dubai, UAE. Mr. Hajjiri serves as the Council’s advisory on all legal and regulatory matters at both local and federal levels that effect Dubai’s economy and competitiveness. Mr. Hajjiri through his position as Legal Policy director actively participates in the development of legal strategies and policies by providing policy recommendations that are the culmination of extensive research and collaboration with public and private sector representatives both locally and internationally.
Vikas Thapar, Chief Executive Officer, Emirates Money Vikas heads Emirates Money as its CEO. He was instrumental in the conceptualization and establishment of the company and continues to drive the growth and direction of Emirates Money. Vikas possesses more than 17 years of experience in the consumer finance industry and has worked with Citigroup in India and Indonesia. In his previous assignments with Citigroup, he played a prominent role in setting up the consumer finance business for Citigroup in Indonesia and was an integral part of the consumer finance set-up team at Citigroup India.
16 Dubai honours
16
top 100 SMEs
Dubai SME, an agency of the Department of Economic Development (DED), identified top-performing 100 SMEs in a bid to help them grow.
26 Etisalat cuts security worries of free wi-fi providers
Free Wi-Fi is one of the few value added services that helps contribute to the growth of businesses through attracting and retaining customers.
30 Cloud-based
software to nurture competitiveness, not stifle differentiators
32
The beauty of a cloud platform is that it runs core, standardized systems and processes yet can host the functions your business needs to develop and integrate with your core systems.
32 Leveraging innovation – a key accelerator for economic diversification
Our approach to leveraging innovative technology has consistently had a direct, positive correlation to business performance and growth, says Hussein Hachem.
SME World 2016 - 3rd Edition of the Biggest Entrepreneurship Conference in the Region Enabling Global Ambitions - Engage, Experience, Emerge
52
34 Innovation is the lifeblood of SMEs in the UAE
Beehive survey details out the differences between the SME innovation culture in the UAE and that in Silicon Valley.
36 IP Management for SMEs ‌ Now is the right time
Essam Disi of Dubai SME outlines how best to manage intangible assets - ranging from human capital and know-how to ideas, brands, designs and other intangibles.
46 Vision 2016 for Toyota in the UAE
Roberto Da Silva, General Manager Retail, Al Futtaim Motors-Toyota talks about the company's hybrid technology push and what will make Toyota tick in 2016
59 Rare & Fabulous
High-end luxury products for CEOs and decision makers.
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The World Economic Forum at Davos this year created a ripple when they said, “We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.” The global leaders were talking about the oncoming Fourth Industrial Revolution that has the potential to raise global income levels and improve the quality of life for populations around the world. An integral part of this revolution is technology, specifically based around the concept of Internet of Things and Robotics. In this issue, we tackle the sensitivities of this industrial revolution and aim to inform you about its possibilities and challenges. The macroeconomic environment in the UAE and its outlook has not changed in the last couple of months with the economy still softening; oil prices dropping further and lower government and consumer spending. In our discussions with SME owners, we see the trends of consolidation, optimisation and an emphasis on receivables. This is the time when robust SMEs are in a position of advantage as they will reap the benefits of their investments in people and technology and emerge stronger when the headwinds turn. These SMEs are the ones to watch out for as they have the potential for going from being good to great. In this issue, we have shone the spotlight on two events that have a direct bearing on SMEs in the UAE. One is the announcement of Dubai SME of their Top 100 SMEs and the other is the upcoming SME World 2016. Dubai’s Top 100 SMEs are the most prestigious list of its most watched companies. In the past, these companies have gone from being SMEs to multi-million dollar, multilocation based companies in quick time and the current crop of companies have the same potential. A common feature among these companies is their drive to reach out and be present in more locations across the MENA, EU and South Asia regions. We hope to see more multinationals emerge from the companies on this list. The SME World 2016 is the third edition of the largest entrepreneurship conference in the Middle East & North Africa region and it will be held on 15th March 2016 at Atlantis, The Palm Dubai. Themed ‘Enabling Global Ambitions,’ the conference is a celebration of success that aims to engage small and medium businesses and help them emerge as leaders in their respective fields on a global scale. I hope to see many of our readers there and to reinforce my commitment to help develop the SME ecosystem in the UAE. I wish you well for the Chinese New Year, the Year of the Monkey. Stay safe and stay strong.
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FEBRUARY - MARCH'16
Intelligent SME
BUSINESS ANNOUNCEMENTS
Apple Watch fitness account from Emirates NBD “A value proposition that marries health, wealth and technology,” says Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD
• • •
First fitness based savings account for Apple Watch Earn interest up to 2% p.a. based on daily steps taken Get free insurance and fitness related rewards
Emirates NBD announced the launch of Emirates NBD Fitness Account that turns health into wealth. The Fitness Account is a mobile based savings account that allows customers to earn higher interest on their balances linked to their level of physical activity. Customers can earn interest of up to 2% p.a. on their savings based on the number of steps they walk or run daily. Starting with a base rate of 0.25%, interest rates start stepping up with the number of steps that customers take daily, climbing to 0.50% p.a. as soon as they clock 5,000 steps, 1% p.a. when they walk 8,000 steps and to 2% p.a. when they cross 12,000 steps.
The steps will be measured by an Apple Watch or other compatible fitness devices through the day while the customer is having a morning jog, a walk from the metro station to the office, a game of squash or enjoying a dance in the evening. The steps count will be tracked by the bank’s Fitness App which will translate them into interest on the account balance at the end of each day, making an active and healthy lifestyle a more financially rewarding one. Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said: “The Emirates NBD Fitness Account heralds a new phase in digital banking as it effectively combines customers’ health and lifestyle goals with their banking needs. In conjunction with leading brands in the fitness space, we are offering customers a holistic value proposition where health, wealth and technology merge to provide a truly distinctive customer experience.” Fitness Account customers will get a free insurance cover of AED 100,000 provided by leading global insurer MetLife, subject to clocking in a minimum level of activity daily. In addition, customers will enjoy free vouchers and rewards for over AED 1,000 from leading fitness and sports brands such as Fitness First, the world’s leading health and fitness chain, Adidas, a global leader in athletic footwear, clothes and accessories and Beyond Fitness that specializes in high performance sporting apparel, footwear and wearable tech. To get moving, customers need to download the Emirates NBD Mobile Banking App and open a Fitness Account.
DESCO Copy & Print Center is a trusted brand since last 3 decades. DESCO has the largest print network in UAE with 34 branches, some operating 24/7, it also has a full fledge Offset division equipped with "State of the Art" facilities. DESCO aims to bring printing near you with fast, efficient and economical printing solutions. To know more about DESCO log on to www.descoonline.com or call 800DESCO.
10 www.intelligentsme.com
FEBRUARY - MARCH'16
Intelligent SME
BUSINESS ANNOUNCEMENTS
Al Jalila Foundation & Dubai SME launch 'in2HC' The UAE’s first healthcare incubator to help Dubai Doctors and healthcare professionals establish their own businesses takes shape
Al Jalila Foundation and Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, have signed a partnership agreement to launch Al Jalila Foundation Healthcare Innovation Center (in2HC), the UAE first healthcare incubator. The in2HC (read as: into healthcare) initiative is in response to the call of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai to observe 22-28 November 2015 as National Innovation Week. The in2HC aims to enable aspiring Emirati doctors from a number of medical specialties to start-up their business enterprise in healthcare by providing them with the required resources and support- including facilities, funding and mentoring. The outcome of this initiative will be successful Emirati entrepreneurs who will transform healthcare in the UAE through their innovative contributions and services.
The agreement was signed by Abdul Baset Al Janahi, CEO of Dubai SME, and Dr. Abdulkareem Sultan Al Olama, CEO of Al Jalila Foundation. "This quality initiative aims to expand the network of business incubators through the support of business leaders in various fields, especially the medical field. We are pleased to partner with Al Jalila Foundation to strengthen the competencies of our national cadre in the healthcare sector,” commented Al Janahi. He added that this partnership will strengthen the entrepreneurial culture in Dubai and enable UAE national doctors to establish their own businesses, thereby helping the country achieve its vision and strategy of developing and upgrading SMEs in the economic, social and cultural spheres. “In addition to development advisory and support, we will also provide innovative medical entrepreneurs with specialized training in entrepreneurship and financial management through the Dubai Entrepreneurship of Dubai SME,” he added. Dr. Sultan Al Olama said the UAE
Innovation Week is a wonderful celebration of innovation and testament to the UAE’s commitment to be a global front-runner across a number of industries for the betterment and happiness of the nation. "The launch of in2HC, which will be based at Dubai Healthcare City, is in line with Al Jalila Foundation vision to be at the forefront of medical innovation. We are delighted to support aspiring Emirati physicians as medical entrepreneurs of tomorrow. in2HC offers a one-stopshop of medical facilities and support services, including access to medical and business expertise, so that physicians can focus on building their medical practice. We look forward to inspiring a generation of healthcare start-ups to further develop local healthcare capacity and support its sustainability,” added Dr. Olama. Saeed Al Marri, Deputy CEO of Dubai SME, explained that in2HC will support medical entrepreneurs through consultancy and role model projects in addition to forming an advisory committee with Al Jalila Foundation to guide their business. "Our partnership marks a unique extension to services being provided by the Hamdan Innovation Incubator to creative and innovative UAE nationals in the professional sector. In addition to consultancy and advisory services we will organize workshops aimed at raising awareness of the importance of medical services and the exchange of knowledge and statistics in the local healthcare sector." Al Jalila Foundation invites qualified Emirati doctors to register in the Medical Innovation Center or through http://www. aljalilafoundation.ae/ what-we-do/in2hc/
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FEBRUARY - MARCH'16
Intelligent SME
BUSINESS ANNOUNCEMENTS
Emirates NBD is ‘Best Consumer Digital Bank’ second year running Also presented with ‘Best in Mobile Banking’ and ‘Best Mobile Banking App’ at Global Finance's best in digital banking awards.
• Global Finance ‘Best in Mobile Banking’ award for advancing innovation in mobile banking technology • Bank recognised for ‘Best Mobile Banking App’ two years consecutively Emirates NBD, a leading bank in the region, bagged three awards at Global Finance’s Best Digital Bank Awards. The bank has been awarded ‘Best Consumer Digital Bank in Middle East and Africa’ (formerly known as the Best Internet Bank Awards) and ‘Best Mobile Banking App’ Middle East and Africa, for the second year running, It was also named ‘Best in Mobile Banking’ for Middle East and Africa in recognition of its pioneering role in digital banking innovation. Emirates NBD introduced a series of first-to-market digital banking services in the region, as part of its commitment to offer banking solutions that match lifestyles and needs. The bank is the first in the Middle East, Asia and Africa to offer ‘Mobile Cheque Deposit’ facility to its Private and Priority banking customers, in addition to ‘Mobile Queuing Ticket’ service, both via its mobile banking app. It offers next generation selfservice banking offerings such as DirectRemit, Emirates NBD mePay, and ‘Shake n Save.’
12 www.intelligentsme.com
Commenting on the award, Abdulla Qassem, Group Chief Operating Officer – Emirates NBD, said: “It is a real honour to receive multiple recognitions from Global Finance for our pioneering efforts in driving digital channel development and adoption in the UAE’s retail banking sector. The bank has invested smartly in technology innovation to transform the customer experience, and I can proudly say we have created the benchmark in retail banking, at par with some of the most advanced banks
globally, both in terms of innovation and business development.” Global Finance’s Best Digital Bank Awards are an authority on the world’s leading digital banks. Now in their 16th year, these awards have become the most prestigious honour in the industry. Winners are chosen and
entries evaluated by a world-class panel of judges at Infosys, a global leader in consulting, technology and outsourcing. Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD added, “Emirates NBD is a clear leader in the UAE retail banking space - our focus on technology innovation and adoption to create self-service digital-only products has created a new paradigm in the way people bank. As a result of our multichannel transformation, today over 80 per cent of all financial transactions and requests are done through digital channels and this ratio continues to increase. Online and mobile banking customers represent 40 per cent of the bank’s active customer base, a number which is poised to grow further as we continue to innovate to offer our customers an enriched banking experience.” Emirates NBD is the only bank in the UAE to offer e-payment capabilities through all bank channels for over 25 major service providers, varying from telecom, utilities, transportation, card schemes and education sectors, among others. With Emirates NBD’s online and mobile banking channels, customers can perform over 100 transactions including request for new products and services. One third of the bank’s active customer base use mobile and online banking regularly. In addition, one out of every two customers using online banking services also take advantage of its mobile banking platform.
FEBRUARY - MARCH'16
Intelligent SME
BUSINESS ANNOUNCEMENTS
AIG named ‘SME INSURER OF THE YEAR’ AIG was awarded the ‘SME Insurer of the Year’ title at the annual MENA Insurance Review Awards, the top awards ceremony for the regional industry. The MENA Insurance Review Awards recognise insurers, reinsurers and brokers that have demonstrated exceptional customer service and innovative product development over the previous year. AIG launched its SME segment in 2010, and was the first company in the UAE to provide an online platform for SME solutions. Melina Argyriou, Head of SME Package Insurance MENA at AIG, said: “The SME award is a credit to our teams across the region, who work hard every day to deliver fantastic service and great value to our customers. They are why we have been able to build AIG into one of the strongest providers of insurance and
reinsurance in this region over the past 60 years.” AIG’s SME segment is aimed at businesses with annual sales or insurable assets at a single location of less than USD10 million, and has grown 200% in the last four years. She added: “We know SME clients want simple and straightforward processes when purchasing insurance. We designed our products with that in mind, so that they can focus on their core business. Our SME proposition delivers exceptional value to clients in terms of coverage, automation, flexibility and world-class claims service.” The MENA Insurance Review awards took place at the Ritz Carlton, Dubai
International Financial Centre. The criteria set for the in-country insurance winners included demonstrating sustainable growth, strong market share, a diversified range of products, corporate governance and leadership, innovation and an overall sound business model. AIG was also recognised for its North Africa operations, winning the ‘North Africa Insurer of the Year’ award.
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FEBRUARY - MARCH'16
Intelligent SME
SME UPDATES
UAE Banks Federation discusses SME lending Also discusses measures to manage and control SME loan defaults, compliance with rules on competitive advertising and reviewed work of its specialised committees.
The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, discussed possible measures to manage and control loan defaults by small and medium sized enterprises (SMEs) at the latest meeting of its CEO Advisory Council. Other topics discussed at the meeting held on 7th December in Dubai, which was chaired by His Excellency AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, included compliance with the Federation’s rules on competitive advertising and a review of work of the Federation’s specialised Committees. His Excellency AbdulAziz Al Ghurair, Chairman of the UBF, commented: “At
14 www.intelligentsme.com
a time when many member banks are facing some challenges as a result of a levelling off in the global economy, regional issues, and the drop in oil prices, it is important for the industry to recognise the impact on customers and the options we have to support them. This is particularly important for SMEs right now, but it is also the moment for us to look closely at our own standards to ensure that they are being maintained across the industry and to cooperate with each other to find the best solutions to support and help this group of companies, We have gained a high level of trust among customers but how we market ourselves is a good example of how that trust can either be maintained or diminished.
We continue to study other ways to ensure that best practice is implemented by UAE’s banks in their dealings with customers." The Advisory Council also reviewed the recent annual conference, The Middle East Banking Forum, which was held in Dubai on 16th November and attracted over 300 participants. The conference aims to become the leading banking event in the region with participation by an ever widening range of senior representatives of regional and international banks as well as banking associations, advisers and suppliers. Finally, the Council discussed progress on the wide range of ongoing projects being carried out by its committees.
FEBRUARY - MARCH'16
Intelligent SME
SME UPDATES
Commercial operations of stage one of Etihad Rail commence “We are pleased grant safety authorizations for the first stage of the UAE’s national rail network,” said HE Dr. Abdulla Bilhaif Al-Nuaimi, Minister of Public Works and Chairman of the Board of Directors of FTA. HE Dr. Abdulla Bilhaif Al-Nuaimi, Minister of Public Works, and Chairman of the Board of Directors of the Federal Transport Authority –Land & Maritime (FTA), granted Etihad Rail, the developer and operator of the UAE’s national rail network the official safety authorizations to commence commercial operations on Stage One of the network (Habshan – Shah – Mirfa – Ruwais). Safety authorizations were granted during an official ceremony in Dubai, which accredited Etihad Rail’s operations partner Etihad Rail DB to commence commercial operations on the 264 km route. This forms part of the wider UAE network spanning 1,200 kilometres and the future GCC network. Stage One will transport Sulphur from Shah and Habshan to the port of Ruwais on two daily trains, each transporting 11,000 tonnes. This will dramatically decrease the number of trucks on the road. The event was
attended by HE Nasser Alsowaidi, Chairman, Etihad Rail, and members of Etihad Rail’s Board. HE Dr. Abdulla Bilhaif Al-Nuaimi, Minister of Public Works, and Chairman of the Board of Directors of FTA said: “This is a result of the combined efforts of the FTA, Department of Transport in Abu Dhabi, the Roads and Transport Authority in Dubai, Etihad Rail and Etihad Rail DB to ensure that this important strategic project for the future of the country operates to the highest standards.” HE Nasser Alsowaidi, Chairman of Etihad Rail added, “The start of commercial operations is one of the biggest milestones we have achieved to date and it is an incredibly proud day for Etihad Rail, for the UAE and for the wider Middle East transport sector. These authorizations are testament to the FTA’s confidence in our company’s abilities to safely operate the railway according to the highest international standards. During the past year, we have already transported more than three million tonnes of Sulphur
from Shah and Habshan to the port of Ruwais for our customer, the Abu Dhabi National Oil Company (ADNOC), as part of the testing and commissioning and trial operations phases. We now look forward to taking our operations to full commercial capacity, which will see Etihad Rail transport as much as seven million tonnes of Sulphur every year.” The new federal law, which outlines how the UAE will govern railways, requires rail companies to present evidence to the FTA that it can safely operate and maintain a railway system. The FTA led a team comprising Department of Transport in Abu Dhabi and the Roads and Transport Authority in Dubai (RTA) to provide evidence and assurances that Etihad Rail has designed, constructed and will operate the railway to the highest international standards. With the safety authorizations being issued, the UAE officially joins a select group of countries that reap the rewards of having an advanced railway system.
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FEBRUARY - MARCH'16
Intelligent SME
SME 100 - 3rd CYCLE
DUBAI HONOURS TOP 100 SMEs Dubai SME, an agency of the Department of Economic Development (DED), identified top-performing 100 SMEs in a bid to help them grow. Dubai is becoming a launchpad for SMEs in sectors such as health, education, information technology, logistics, tourism and hospitality due to its reputation as an entrepreneurial hub.
H
is Highness Sheikh Ahmad Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Mohammad Bin Rashid Foundation and President of the UAE National Olympic Committee, presented awards to owners and executives of small and medium businesses in the Emirate that made it into the Dubai SME100 ranking in its third cycle. The number of enrolments in the third cycle was 4,532, an increase of 49 per cent compared to 3,041 companies in the second cycle. Together, companies enrolled in the third cycle represent net revenues of Dh69.5 billion and workforce of over 144,000. The service sector represents the lion’s share of registrations in the third cycle with 57 per cent while 34.5 per cent (1,565) were trading companies and 8.4 per cent (382) were manufacturing firms. SMEs contribute 47 per cent to the Dubai economy while the service sector contributes 41 per cent and manufacturing sector about 13 per cent. Mid-sized businesses contributed about 17 per cent to the economy while small enterprises contributed 14 per cent and micro-enterprises about eight per cent. Micro enterprises account for 72 per cent of the number of total businesses in Dubai while small enterprises constitute
18 per cent and mid-sized businesses another five per cent. Abdul Baset Al Janahi, CEO of Dubai SME said that 88 companies among the top 100 in 2015 have achieved doubledigit revenue growth over the last three years, compared to 81 such companies in the 2013 ranking and 53 in the 2011 cycle. Companies that have achieved over 20 per cent growth in revenues and hence classified as high-growth, have a strength of 69 among the top 100 in 2015, an increase of 28 per cent over the 54 such companies in the 2013 ranking, which in itself was a 32 per cent increase from 41 companies in 2011. Net profits of 78 companies in the 2015 list saw double-digit growth in the last three years compared to 71 companies in the 2013 list and 48 in 2011. “Dubai SME has been evaluating the performance of 42 companies that participated in more than one cycle of the ranking and we saw that 98 per cent of them were able to achieve revenue growth of up to 33 per cent and up to 47 per cent growth in profits in the last three years. Their net sales grew from Dh1.36 billion to Dh2.15 billion, with an increase of 158 per cent, in the same period their profits increased 187 per cent, from of Dh134 million to Dh250 million, ” Al Janahi said.
Dubai SME100 has been a great platform for SamTech’s exposure. Its countless training sessions and workshops have enhanced our knowledge and methods in order to take our businesses to the next level. The feedback provided by SME100 is a snapshot of the company’s current situation and an assessment enabling senior management's road map moving forward. The ranking gives us a stamp of credibility and therefore an advantage over competitors." Samir I. Abdul Hadi, Founder & CEO, SamTech Middle East
16
FEBRUARY - MARCH'16
Intelligent SME
SME 100 - 3rd CYCLE
Intelligent SME interviewed Abdul Baset Al Janahi at Dubai SME Top 100 awards and discussed the ranking and its benefits. He has contributed significantly to UAE's SME growth and development and is renowned for his support of young and aspiring entrepreneurs. Congratulations on Dubai SME100 growing 94% in participation this year. What is your view on the progress of the SME100 initiative over the years? How do you expect it to grow in the future? As you know, Dubai SME100 ranking is the first of its kind in the region, it was launched in 2011 under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council. In every cycle of the Dubai SME100 we are receiving better and bigger companies. Now that we are in the 3rd cycle, the SMEs previously ranked as well as those in the new list are noticing the exposure they are receiving for being ranked. The Dubai SME100 ranking has seen remarkable developments in its three cycles so far. It has grown substantially in terms of level of participation and competition, The number of companies that registered in the 2015 cycle was 4,532, with an increase of 49% compared to the 3,041 companies in 2013. The companies enrolled in 2015 represent a net revenue of AED 69.5 billion approximately and a workforce of 144,000. Such increase in participation reflects the trust of the SMEs in the value of the program, which enabled the ranked SMEs to boost their performance and business growth. Every cycle, we try to provide additional benefits for the ranked companies. The third cycle will see the addition of new capability development programs targeted at people working in the various strategic and administrative positions in SMEs, including executives, finance managers, human resource managers, IT managers, and quality managers. The programs will include advisory services, consultancy and training on financial and business management and on entering new markets.
Abdul Baset Al Janahi, CEO of Dubai SME
Is it just another ranking of SMEs? What is the vision and objective behind SME100? The Dubai SME 100 ranking acts as a platform and catalyst to identify promising SMEs – to groom them to become bigger, better and sustainable enterprises; eventually graduating them to large globally-oriented companies The Dubai SME100 ranking program identifies and ranks companies based on a set of financial and non-financial performance
parameters and then helps the ranked companies to acquire new capabilities and develop the business. The financial parameters look at the growth of the company in sales and in net profit, whereas the non-financial parameters look at the company in terms of Innovation, Human Capital Development, International Orientation, Corporate Governance, and Corporate Social Responsibility. The ranking serves as a means to an end to help SMEs to identify gaps and
The strategic tools and guidelines we received from SME100 helped our company to tackle some of the most demanding challenges of modern business. They ensured that our business and operations are as efficient as possible, increased productivity and helped our company to access new markets Yasser Ahmed Almuflehi Managing Director, Sea of Incense and Perfume 17
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SME 100 - 3rd CYCLE work with Dubai SME and its partners to bridge development gaps. For example, Dubai SME has been evaluating the performance of 42 companies that participated in more than one cycle of the ranking and we saw that 98% of them were able to achieve revenue growth of up to 33% and up to 47% growth in profits in the last three years. Their net sales grew from AED 1.36 billion to AED 2.15 billion, with an increase of 158%, in the same period their profits increased 187%, from of AED 134 million to AED 250 million. In addition, these companies have been able to create new jobs and raised the total workforce from 2,332 employees to 3,601 employees, an increase of 154%,"
How do you see the core SME100 initiative moving forward?
Has the ranking helped position Dubai SME amongst the SME community? What are its benefits to Dubai SME?
Are there any changes that you are planning to include in future? What would be the new areas of development for the 2016 cycle?
The ranking fits well in Dubai SME’s overarching strategy to build a comprehensive SME development ecosystem. We have to target Dubaibased SMEs with clear benchmarks and metrics to know more about their challenges, opportunities and potential. By ranking them and guiding them through a capability development and growth journey, Dubai SME is able to better comprehend the ground situation in the SME sphere, and develop studies and policies that will help sector development. Dubai SME100 ranking has further positioned Dubai SME as a reference for all SMEs and SMESupporting entities in Dubai
Dubai SME100 is now in its 3rd cycle. During the past five years we managed to place Dubai SME100 as a soughtafter ranking and an inspiration for SMEs in the emirate. In that process, we have also managed to capture role model SMEs with impressive success stories and acquired a great deal of knowledge and resources that can contribute to future SME development strategies. Our goal is to help the ranked SMEs in different areas to grow and evolve into more sustainable and internationally competent establishments that will strengthen Dubai’s credentials as a high-growth destination and entrepreneurial hub.
The Dubai SME100 is a bi-annual program and in every cycle we try to improve the criteria based on the vision and goals of Dubai. In 2014, Dubai SME and Dubai Chamber launched a guide for SMEs to help advance the corporate social responsibility (CSR) profile of Dubai. Dubai SME100 introduced the CSR sub-ranking for its 3rd cycle (2015 – 2016). Also, in line with Dubai Innovation Strategy for the year 2015, we have raised the weightage of the Innovation theme from 15% to 20%. Similarly, the ranking themes and post-ranking support program will keep evolving in response to Dubai’s growth strategy.
What are the core strengths of Dubai SME100 at the moment? How does it help SMEs?
The Dubai SME100 is a complete program, where post-ranking the SMEs go through a two-year Capability Development Program. The program is linked to the sub-ranking themes in order to educate and develop the ranked companies around these themes. When we consider the knowledge gained by Dubai SME100 companies going through the two-year program, the ranking is in fact the first step in a long journey of sustainability and growth that lasts throughout the enterprise life cycle. We always partner with well-known organizations that in return offer free growth advisory services to the SME100 companies. For example, our partner Shuaa Capital offers free Business Valuation for all the ranked companies.
How do you see Dubai Expo 2020’s impact on SMEs in Dubai and the UAE?
Dubai Expo 2020 will have a huge impact on the SMEs in Dubai. It will offer great opportunities and will attract critical investments into all the SME sectors. The huge demand for innovation and skills in the years leading to the Expo open doors for the SMEs to showcase their products and services to millions of visitors and investors. In addition, our SME100 companies are in an advantageous position to become preferred suppliers to Exporelated projects.
I am honoured and proud that INDEX Holding maintained its position in the top SME 100 for the second time, this is a remarkable achievement for us and will definitely spearhead us towards achieving greater heights mainly due to the determination and hard work from all members of INDEX. At INDEX, we unite for a common purpose, upholding the name and reputation of the UAE. We are driven by the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minster of the UAE and Ruler of Dubai, which aims at making Dubai one of the leading cities in the world. I believe that the private sector is a pivotal partner for the development of the country, and with our vision and mission, we are highly committed to be one of active contributors in the growth of the economy of the UAE.” Dr. Abdul Salam Al Madani, Chairman, INDEX Holding 18 www.intelligentsme.com
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SME 100 - 3rd CYCLE
In this special edition Intelligent SME chats with the top four ranked awardees of the 3rd Cycle to understand the impact this award has on their business. DIMARA INTERNATIONAL
[Ranked The No.1 SME company at Dubai SME Top 100 Awards)
and five star hotels, resorts, hospitals, airlines and general facilities within the Gulf Region. Our clients are looking for value for money and premium products that are tailor made for their property. Concepts that we offer are out of the box and bespoke and are for properties and facilities that can embrace the next generation of hospitality services.
Q: What is your reaction to being named top of the Dubai SME100? Does your ranking help business? A: We are completely
Dimara International offer?
humbled, and beyond excited to be ranked the No.1 SME company. Since we started our journey in the first cycle as the 71st company, the 2nd cycle as the 6th, company, and now as the 1st, I believe it really is an indicator of our hard work, growth, development and dedication of our team.
A: Dimara International is a
Q: How has the Dubai SME100
Mohamed Sharif Alzarooni , CEO
Q: What products and services does multifaceted organization that develops and manufactures hospitality products and solutions. The company includes three distinct divisions. The Procurement/Turn Key Projects Division for new hotel projects; Dimara General Trading to introduce designer fashion brands into hospitality concepts and our fully owned manufacturing facilities – Dimara Industries. Dimara is proud of its innovative products as well as services. We tailor make hospitality concepts for hotels with high end fashion brands such as Bottega Venetta Roberto Cavalli, Jo Malone, Etro, and Maison Margiela. Our factory produces hospitality textiles for designer labels with world class expertise and technical capabilities.
Q:
Please tell us more about the market you cater to in the UAE.
A: Our target market is primarily four
ranking improved your business?
A: The SME100 ranking over the years has helped us in many ways. Since the key indicators and ranking process is very intricate, they provide valuable feedback. They have evaluated our organization in the categories of human capital development, financial growth, innovation, international orientation, corporate social responsibility, and corporate governance. We have utilized these critical evaluations as guidelines to improve our organization.
Q: What would you characterise
as proud achievements of your company over the past few years?
A: The past few years has been
amazing for Dimara International, we have achieved so much and are humbled by the amount of recognition that we have received. We have been
named the Best Commercial Business in Dubai, as well as provided with a label for Corporate and Social responsibility by the Dubai Chamber. We have expanded across borders, and eliminated any barriers that we may have had in the past. Our team takes credit in making our vision a reality, and making the impossible possible.
Q: What advice would you give to budding entrepreneurs? What measures can help them graduate to being larger companies with expanded presence? A: Every entrepreneur should: have
a mission that is something that you are passionate about, with clearly defined goals have a plan, for the business and yourself; and be ready to take risks believe in yourself, believe in your team instill your passion in every detail, it makes all the difference always stay focused and follow your vision Measures that can help companies graduate into being larger companies are diversifying client base, managing cash flow, delegating responsibilities, eliminating founder dependence and balancing growth and quality level.
Q: What do you think are major challenges for SMEs in the UAE?
A: We believe that SME’s in UAE don’t have any major challenges, as there is always ready support available in all conditions. Being a Sheikh Mohammed Establishment company provides more advantage.
Q: What partnerships are critical to you to ensure business delivery? A: We view all relationships with
our stakeholders to be partnerships, whether they be that of employees, suppliers, manufacturers or the community. We believe that all relationships that our company makes are critical to business delivery to our customers. Each element of our network has its significance in customer delivery.
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SME 100 - 3rd CYCLE I-GENERAL TRADING LLC
Q: What is your reaction to being
named among the Dubai SME100 companies? Does your ranking help business?
[Ranked the No.2 SME company at Dubai SME Top 100 awards]
A: It is an honour to be recognized
as one of the top Dubai SME100 companies and it definitely helps in growing the business. Retailers across the UAE know about this recognition and how it provides support to SMEs. Being ranked 39 in 2011, followed by 18 in 2013 and being at # 2 ranking in 2015 is a great achievement for our organization. Every team players’ hard work and dedication has helped us achieve success.
Q: How has the Dubai SME100
ranking improved your business?
A: Sustainability, Focus, Flexibility are
Ibrahim Ali Abdullah bin Shaheen, founder and CEO
Q: What products and services does i-General Trading LLC offer?
A: I-General Trading operates in the
Food & Beverages sector and is the Sole Agent for SIRMA products. We are also the distributors for Saville, POLZA, OSHEE and AL COTTON products.
Q: Please tell us more about the market you cater to in the UAE.
A: We deal with more than 5,000
retail outlets which include all hypermarkets, supermarkets, hotels, and restaurants, caterings as well as grocery outlets. We also provide services to homes and offices as well as to top VIPs including the Rulers’ Court and The Executive Office.
the three key concepts we have taken from the Dubai SME100 ranking. Sustainability: We ensure that our performance and results are sustainable year on year Focus: This is the key word to our success. We make sure that every single activity that takes place in the organization is done with full dedication and focus. Flexibility: Our operations are very flexible to meet customer demands.
Q: What partnerships are critical to you to ensure business delivery?
A: Our business relationships with
customers is our biggest asset. We never compromise on service and delivery levels and make sure that we deliver the right product, at the right time with the right quality.
Q: What would you characterise
as proud achievements of your company over the past few years?
A: Year on Year Business Growth (even during tough situations). Being recognized as top 100 SME’s and ranked #2 in 2015 by Dubai SME.
Importing and distributing 100+ containers on monthly basis. Expanding our operations from UAE to the Gulf region through distributors. Having more than 5,000 selling points – retail outlets, hotels, restaurants, caterers, government entities, VIP clients, home deliveries, private orders as well as online orders. Distribution and availability of our products in all top retail outlets. Strong spirit (24x7) of the distribution team
Q: What do you think are the major challenges for SMEs in the UAE?
A: The major challenges for SME’s
in the UAE include implementing corporate structure in companies and practicing transparency with everybody, ensuring ‘SUSTAINABILITY’ of businesses and continuous ‘PERFORMANCE’ during market instability.
Q: What advice would you give
to budding entrepreneurs? What measures can help them graduate to being larger companies with expanded presence?
A: The UAE is one of the few places
in the world where you can think entrepreneur, think concept, think startup and make your dreams a reality in a short time. What this thinking needs to take care of is financials. As far as investment plans go, ensure that you have a clear business performance projection for the next three to five years. Also, give priority to sustainability. We have great examples of ENTREPRENUER LEADERS in the UAE and I truly believe that one can learn from their successes and follow their footsteps in setting up individual businesses. One has to grab every single opportunity that comes their way and work hard towards success.
It is truly an honour for us to be nominated for the SME award, since Dubai is the business hub of the region and home to thousands of great companies. These companies have a special place for this precious award, so being part of it is really a great honour.”
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Mohamad Al Baghdadi, CEO, TechKnowledge
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SME 100 - 3rd CYCLE DUBAI DESERT EXTREME LLC [Ranked the No.3 SME company at Dubai SME Top 100 awards]
Q: What products and services does Dubai Desert Extreme LLC (DDE) offer?
A: DDE is the industry leader in
Action Sports, Lifestyle and Bike Sports with Exclusive rights to some of the biggest brands in the world of sports consumer goods. Global brands such as Giant, Volcom (The Kering Group), Mitchell & Ness (Adidas Group) and Gildan (the world’s largest apparel manufacturer), make up the foundations of our superior brand portfolio. DDE has over 50 brands within its portfolio and successfully distributes these brands and products through its network of key accounts across the MENA region, through multiple channels and own retail outlets. DDE also promotes an active lifestyle through its unique collection of brands and has helped support and facilitate the growth of action sports and the culture surrounding them. This helps develop the market for our portfolio of brands and services. With a solid connection to niche markets, DDE also plans and executes events and activations for own brands and retail concepts and also provides the same service for other like-minded brands. DDE is the ultimate sports lifestyle company!
Q: Please tell us more about the market you cater to in the UAE.
A: DDE caters to the sports lifestyle
market in the UAE and abroad through our three divisions - Action Sports, Lifestyle, and Bike Sports. Our Action Sports division offers the biggest and best global brands for skateboarding, surf, snow and BMX. With leading brands like Volcom, Electric, Neff, Emerica, Etnies, Flip and many others, DDE is the leader in this industry. As per the requirements of action sports enthusiasts, DDE sells its products through its ‘RAGE’ retail concept and through its wholesale business, working with the leading key accounts in the region. Our Lifestyle division is the leader in the headwear industry in the market and represents the biggest brands in the world, including 47 Brand, Mitchell & Ness & Starter, Cayler & Sons, Melin and others. Again, working with the best key accounts across the region, DDE puts its brands and products in reach of consumers. We has recently launched another home grown retail concept called ‘Captiv8’, which is the first and only dedicated multibrand headwear concept in the Middle East! Our Lifestyle division also brings some of the best footwear brands to the market. Supra, a relatively new brand with DDE and doing extremely well has its roots in skateboarding, but is considered a popular lifestyle brand and is found at some of the best sports and lifestyle retailers in the region. Our Bike division caters to most levels of cycling enthusiasts, from beginners to professionals. DDE represents the biggest and best bike brands in the world, including Giant, Topeak, Mavic, Giro, Bell and many more. Giant is the largest bicycle manufacturer in the world and DDE has made the brand the no.1 in the region by volume. Working with the best key accounts in the region, DDE is able to fulfill consumer demand across the entire region, including the UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahrain, Lebanon, Egypt, and Jordan. DDE has also created a home grown retail concept for its bike division called ‘Ride Bike Shop,’ which is one of the most successful and largest chain of stand alone bike shops in the GCC. With all the best brands under
“I am truly amazed and deeply appreciative that Café2go was chosen as one of the top 100 SMEs in 2015. I never imagined that I would be make the top 100 list this quickly. Being ranked as one of the top 100 SMEs in 2015 is a validation for me that if you work hard and believe in your vision and goals anything can happen. This just adds fuel to my fire to continue on my path of betterment and come back in 2016 to be ranked higher in the top 100 SMEs. Being ranked as a top 100 SME adds great value to the business. You get to network with other SMEs that were ranked and build partnerships and/or alliances with them. Media and public becomes aware of your brand and your achievement. Internally your employees become more energetic and excited to work for the organization.” Jassim Al Bastaki, Founder and Owner, Cafe2go
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SME 100 - 3rd CYCLE one roof, Ride Bike Shop is a one-stop solution for all cycling enthusiasts. DDE also has a standalone service centre, which acts as the regional service and warranty centre for brands like Giant, Mavic, Fox and others. As part of its retail division, DDE also opened the first and only women’s cycling store in Middle East called ‘LIV’ and wants to use this as a platform to educate and encourage women in the region to take up cycling. A new division of DDE – Giant Bike Tours - which will be launched in January 2016, aims at the tourist as well as the local market. It provides an opportunity for people to see Dubai from a bike. With favourable weather during nine months in the year, we offer a healthy alternative to learn about the many sights in this city. This is also a first of its kind service in the region.
Q: What is your reaction to being named amongst the Dubai SME100 companies? Does your ranking help businesses?
A: Being part of this exclusive club and moving up to third place this
year is a testament to our growth and continued success as a company reflecting the good work we are doing. It has been our constant endeavour to achieve excellence across business verticals. The quality we have achieved comes from the passion we have for sports and this reflects in our every undertaking. We are thankful to Dubai SME for recognizing this effort. It gives us further impetus to deliver quality and excellence in our products and services. None of it would have been possible without the dedication and hard work of our team of great and passionate people.
Q: How has the Dubai SME100 ranking served as a tool for improving your business?
A: The Dubai SME100 ranking
helped DDE identify its shortcomings and provided the guidance to work on them. Ranked 4th in the 2013 edition of the rankings, our senior management and staff went through rigorous training programs to improve in areas of weakness. Now that we have been ranked 3rd in the 2015 edition of Dubai SME100, we have
realised how important and effective that guidance and training was. We highly recommend all SMEs to use the six criteria of Dubai SME100 as a guidance tool and work on achieving best practice in all of them. In essence, Dubai SME, through its DubaiSME100 initiative, tells us what is important in running a good business. The six pillars are Financial Strength/ Growth, Innovation, Human Capital (HR), Corporate Governance, International Presence/Orientation, and Corporate Social Responsibility (CSR).
Q: What partnerships are critical to you to ensure business delivery to customers?
A: Internet and social media have
enabled consumers to interact directly with companies and customers expect a more intimate relationship with brands. In today’s marketplace, customer experience is the competitive differentiator. Trust is the primary currency and brand loyalty the ultimate value. To deliver effectively and efficiently we need to maintain strategic business partnerships with banks, brand principals, landlords, the
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SME 100 - 3rd CYCLE government/ local authorities, and the regional media. What would you characterise as proud achievements of your company over the past few years? Ranked
4th in the 2013 edition and Ranked 3rd in the 2015 of the Dubai SME100. In 2014 DDE owners - Shahriar Khodjasteh and Shahin Khodjasteh were selected as Endeavour Entrepreneurs. DDE was finalist in three categories of the 2014 Gulf Capital SME Awards Entrepreneur of the Year Business Leader of the Year Sustainable Business of the Year In July 2015, DDE won two awards from Giant. The First LIV Store in the Middle East - an appreciation from Giant for opening the first all women bicycle store in the region. Excellent Achievement Award from Giant - awarded to only 15 countries in the world that achieved their targets over five years. NBAD Stars of Business Awards our CEO, Shahriar Khodjasteh and
DDE won “The 2015 Star of Business Award.” Another great milestone for our company, this award was given to us for Excellence in Business Performance & Best Practices and we were selected out of 64 finalists. In December 2015, DDE won the Customer Delight Award from the Sports & Recreation Sector at the 2015 MENAA Awards.
Q: What do you think are the major challenges for SMEs in the UAE?
A: Challenges faced with funding
Lack of guidance and support from banks to support SME’s, lack of bank lending to SME’s. SME’s account for less than 2% of the total lending of banks in the region.
Constant change in macroeconomic and geo-political environment.
Ever increasing rents in the UAE, which hinders retail expansion and profitability. Greedy Landlords.
Competition and inferior quality products in the market.
Top 100 awardees of the 3rd Cycle
Government red tape and inefficient processes.
Lack of insolvency law to protect entrepreneurs and business owners.
Lack of good talent available in the market.
Q: And what advice would you give to budding entrepreneurs? What measures can help them graduate to being larger companies with expanded presence? •
Plan well
•
Work hard
•
Find great people and retain them
•
Be patient
•
Build your culture and live the values
•
Grow within your limits and have a good Finance Manager or CFO who can guide you
•
Innovate and be different
•
Aim big, go big
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SME 100 - 3rd CYCLE BIN TOUQ FIRE AND SAFETY [Ranked the No.4 SME company at Dubai SME Top 100 awards]
agent system, fire alarm system, fire extinguishers.
Q: Please tell us more about the fire and safety market in the UAE.
A: The potential for growth of the Fire & Safety market in UAE is very strong. The stringent civil defence regulation, use of highest quality materials and best standards of design and technology implementation are the key to win in this market.
Q: What partnerships are critical to
Q: What is your reaction to being
partnerships are critical to growth:
named among the Dubai SME100 companies? Does your ranking help business?
A: The reaction and feeling that
Obaid Bin Touq, Chairman and Chief Executive Officer
comes with being among top SME 100 is simply amazing and gives us a lot of encouragement and energy to do lot more. The fourth rank in SME100 is a great honour for our establishment . It helps us in terms of new and existing business relations and clients as they feel good and trust us and our achievement and growth. Clients feel safe and comfortable dealing with a well recognised company.
Q: What products and services does
Q: How has the Dubai SME100
A: Bin Touq Fire And Safety is a
A: The SME 100 ranking acts as a tool
Bin Touq Fire and Safety offer?
leading Civil Defense approved fire contractor providing fire systems on a turnkey solution (Design, Supply, installation & maintenance) for Fire Protection, Smoke Detection and Emergency/ Exit Light system. We offer sprinkler system, fire pump system, fire hose reel, foam system, deluge spray system, fire hydrants, clean
corporate social responsibility. SME employee training workshops and top management seminars have helped us enormously in our human resource development while the SME government procurement programme has given us several business opportunities and leads.
ranking helped improve your business?
to measure the company’s growth and performance. It re-establishes the trust and confidence in our abilities to perform better. It evaluated us on a 360 degree measurement scale that includes growth, performance , innovation , human capital development, international orientation, corporate governance and
you to ensure business delivery to customers?
A: In our business, the following
Product agency
Banking relations and facilities
Civil defence for updates in regulations /rules /relations
IT and High end technology software & hardware
ERP and CRM system implementation partners
Q: What would you characterise
as proud achievements of your company over the past few years?
A: SME100 Rank 4 is definitely
auspicious and ranks on top of our recognitions list . We are honoured to receive this ranking and have also received the following awards:
Forbes Business leader 2015
International Business Excellence awards Finalist 2015
MEED Quality award for Small project of the year 2015
Gulf Capital award for Emirati of the year 2015
NBAD Star Business awards for SME tool kit – 2014
It is a very proud moment for the Centena Group to be recognized as one of Dubai’s leading SMEs. This award encourages us to move ahead in our journey towards excellence, reiterating our beliefs to contribute more meaningfully and to better the quality of life of the community we serve. We are focused on emerging advancements in technology and dynamic in our ideologies on innovation. Our team is inspired to strive harder to create value through innovation and we continue to excel in what we do.” Sanjay Raghunath, Chairman and Managing Director, Centena Group
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SME 100 - 3rd CYCLE
NBAD Star Business Award for Emirati of year -2014
Q: What do you think are the major challenges for SMEs in the UAE?
A: SMEs in the UAE face several challenges including:
Hiring of qualified /certified business leaders who can sustain the business and help overcome difficulties Hiring management, financial and communications specialists
To have a sound and effective cash flow programme
Banking relations & facilities
Project delivery with minimum possible resources and time
Retaining infrastructure managers
Compete with and implement innovative methods
Q: What advice would you give
to budding entrepreneurs? What measures can help them graduate to being larger companies with
expanded presence?
A: Entrepreneurs are decisive people
and must know what they want to achieve. They need to take risks and must have a clear idea of what is good and bad for business as they move forward. They must know the market potential and have a sound business management plan. Key attributes they need to cultivate include leadership qualities, exposure to business from the ground level upwards and seeking the support of quality managers who have practical business knowledge.
Having recently been ranked in the top 20 performing SMEs in the Dubai SME 100 Third Cycle, we’re extremely thankful for this recognition in our 10th year since inception. This achievement affirms our status as a leading coffee solutions provider to the retail, on-the-go, food service and office sectors in the Middle East. Robert Jones, Managing Director, Coffee Planet
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SME ENABLERS
ETISALAT CUTS SECURITY WORRIES OF FREE WI-FI PROVIDERS Free Wi-Fi is one of the few value added services that helps contribute to the growth of businesses through attracting and retaining customers. Here we examine how it will be wise for businesses and Public Internet Access Providers to enhance customer value by augmenting their security environment.
S
eamless connectivity in public places is becoming increasingly important and users in the UAE enjoy free internet access in malls, metro, tram, public parks and open spaces. Wi-Fi is considered a right by UAE residents and not a utility or public service as they use innumerable internet-based apps and devices for knowledge, entertainment, connectivity and social interaction. Telecom providers in the UAE have built one of the best infrastructures in the world and private businesses such as shops, commercial establishments and restaurants are benefitting from the same and provide free internet access for their customers.
Free Wi-Fi is a vital part of the value offered to customers
Businesses, especially in retail and hospitality, have learnt that driving customer loyalty is not exclusively about price: it’s about value and
offering an integrated customer experience. And when businesses offer free Wi-Fi and play the role of a Public Internet Access Provider (PIAP), they take a step towards creating the perfect integrated customer experience. In a study recently commissioned by Wi-Fi Alliance® and Wakefield Research, 48 percent of consumers said they are more likely to shop at a store that gives them access to a wireless Internet connection. Nearly a third of customers tend to stay longer in a Wi-Fi enabled store translating into higher revenues for the businesses. The study also reveals that 35 percent of consumers use their mobile device to look for product reviews while shopping, and that one in three abandons a purchase because they couldn’t complete their research. Today, retailers and restaurants can lose profit as a result of a poor Internet connection. In a competitive business environment, they can’t afford to lag behind the technology curve. For these businesses, Wi-Fi offers a trifecta of benefits: more traffic, longer
face time with customers and a larger spend per person. As they look to gain market share, Wi-Fi offers them with a cost effective differentiator. According to the survey, 30 percent of consumers said they are more likely to return to a store with seamless, automatic Wi-Fi. This is a huge number that in itself promotes the inescapable conclusion that free Wi-Fi is essential for businesses.
Online safety is the responsibility of the PIAP
Customers use multiple smart devices to access and share information via public Wi-Fi zones. This has resulted in businesses having to ensure that their networks are secure and private. An unsecured free Wi-Fi access point, set up with the best intentions by a store owner, may not provide a high level of security as users can easily be enticed by unscrupulous websites and apps. A mind-boggling number of PIAPs serve the millions of visitors to the UAE in addition to its residents. For
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SME ENABLERS example, a single location such as a large mall demands simultaneous access at any time. To cater to the vast number of PIAPs, telecom providers have made an extra effort in infrastructure deployment. They have also addressed privacy and security concerns at the infrastructure level to keep user information confidential and to minimise security threats. An added layer of security at the PIAP level closes the loop A proven approach to meet the security challenges for commercial establishments that offer free Wi-Fi is to provide them with an additional layer of security that safeguards businesses from potential security threats and helps them avoid liability for breaches. Competent UAE authorities and telecoms providers have developed solutions to implement the additional layer of security at the public Wi-Fi network or PIAP level. Utilising the added layer of security brings peace of mind to businesses and assures their customers that they are receiving better value. It is a win-win for the users as well as the PIAPs – the users don’t suffer breaches and the PIAPs avoid any liability.
Etisalat’s drop-in PIAP solution provides peace of mind
Etisalat, the UAE’s leading telecoms provider, offers a fully integrated solution to ensure that business
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owners offer a safe and secure internet experience to users. The solution is based on a PIAP Gateway that is connected to the internet router. This gateway helps in security by identifying unique users at any given point in time. The solution is designed to be user-friendly and ensures that a secure connection is established and individual users are identified successfully. The business owner does not need to make any additional investment, besides the nominal cost of the gateway, to deliver secured wireless access. The solution is scalable and
does not impact user experience; in fact, this drop-in security through the PIAP gateway makes it simpler for commercial establishments and relieves them of upgrading their Wi-Fi networks. As UAE strives to become one of most connected countries in the world, this PIAP initiative creates a better security environment which can be used as an added commercial differentiator. Free Wi-Fi represents a building block upon which the UAE can reap the benefits of technology, but we need to ensure that we also remain safe.
The user journey for internet access with PIAP 1. Once a user is in the range of a Wi-Fi access point (AP) coverage that is associated with a PIAP sensor, the name of that SSID will show in the list of available Wi-Fi networks on his/her device. User will click on the network to connect to the network. 2. Once the device is connected to the PIAP network, a Log In screen will show automatically and the page will ask for a mobile number to be able to provide access code. 3. To get the access code the user will have put a valid UAE mobile number in the mobile field and choose a code from number of mobile prefixes that match with UAE mobile prefixes codes (e.g. 052, 050, etc..). 4. The page will redirect to another screen that requires a confirmation code to proceed. 5. Etisalat SMS center will send a message which will provide 4-digit access code to the user, which will be used for authentication. 6. User will enter the access code received by “Etisalat INF” SMS center in the Confirm Code field (e.g. 1048). 7. Once confirmation code is typed, the user will have to click on Confirm button. This connects the user to the Internet.
Business Software that Inspires Epicor Software Corporation is a global leader delivering inspired business software solutions to the manufacturing, distribution, retail, and services industries. Epicor business software solutions help customers effectively and efficiently automate and streamline their essential and industry-specific business functions, inspiring them to focus on their core, revenue-generating activities, deliver value to their own customers, and grow.
Inspired Businesses turn to Epicor Software. To learn more: +971.4.3913730 marketing.mena@epicor.com www.epicor.com/mena
Business Inspired™
20,000 customers
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150 countries
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30 languages
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4,000 employees
Copyright Š 2012 Epicor Software Corporation or a subsidiary or affiliate thereof. Epicor and the Epicor logo are registered trademarks and Business Inspired is a trademark of Epicor Software Corporation
FEBRUARY - MARCH'16
Intelligent SME
CLOUD TECH
Cloud-based software to nurture competitiveness, not stifle differentiators
The beauty of a cloud platform is that it runs core, standardized systems and processes yet can host the functions your business needs to develop and integrate with your core systems. 30 www.intelligentsme.com
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Intelligent SME
CLOUD TECH
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he phrase “business best practice” can often raise hackles among entrepreneurs. It smacks of process-obsessed corporates rather than the more agile business that relies on distinct differentiators to grab customer share from larger competitors. Best practice can deliver radically superior results to those achieved by other means. It is not confined to processes, as many would believe. It can be a visual way of expressing a transaction, or a graphics-rich, single dashboard with analytics and tools to help find valuable information, or even just an approach to the way we write an e-mail. Adopting best practice saves money and helps your business be more responsive to market trends. Most notably, standardizing on the right best practices will, at a very low cost, establish a foundation that will support the business as it grows. A good example of how this can work is a financial period close process. As the company accountant sits at the breakfast table and sees the little red icon on his tablet flashing, it can indicate that an action is needed on one of his KPIs. He can start a dialogue around that KPI with people that need to be involved, on a secure social platform on which they can collaborate. After a few exchanges and inputs from colleagues, he decides that a journal adjustment is needed. A year later when the accounts are audited, there is a trail of decisions taken and how those decisions were reached. By having that (internal) social platform on the cloud, alongside financial systems, they have access to rich information as well as verification of the decision-making process. Oracle’s Software as a Service (SaaS) solutions include all aspects of running a business from HR and supply chain to financials, reporting, supply chain and procurement. We are firm believers in best practice and have saved $1 billion by implementing it ourselves. By no means are the processes so rigid as to lock out what makes our company unique and the same applies to our customers. Modern best practice is tailored by business function and by industry. A “straightjacket” approach would hinder business growth. The beauty
Oracle’s Software as a Service (SaaS) solutions include all aspects of running a business from HR and supply chain to financials, reporting, supply chain and procurement. We are firm believers in best practice, and have ourselves saved $1 billion by implementing them. of a cloud platform is that it runs core, standardized systems and processes yet can host the functions your business needs to develop and integrate with the core systems. All this comes at a cost that you can control. As part of its commitment to enable our customers in transforming their business by adopting the right endto-end business processes, Oracle has published Oracle Modern Best Practice, an ever-expanding set of next generation best practices enabled by cloud, mobile, analytics, social, big data and the internet of things. Oracle Modern Best Practice is open and easily accessible at www.oracle.com/ modernbestpractcie.
You know you’re ready to move to the cloud when: 1. Latest IT developments become a management discussion Companies that recognize that, cloud, mobile and social are essential for innovation, business growth and competitive advantage, bring the cloud conversation into strategic discussions. 2. Line of business users are driving integration discussions Employees, business units work together with IT to integrate systems successfully. 3. Companies are modernizing their IT infrastructure Spreadsheets, e-mail and department-specific software such as accounting packages and payroll systems start giving way to cloud-based, company-wide systems 4. Customization gives way to business best practice Businesses recognize that software can drive business best practices, yet still be flexible to accommodate competitive differentiators. 5. Talent demands a new way of working New employees expect to have access to business functions on any device, including mobile.
Khaled Ismail joined OracleDirect ECEMEA as Applications Leaderafter 20 years in the IT industry, 18 of which were in Oracle between Egypt and Saudi Arabia, in both the Applications and Technology LOB’s; with a great track-record of successes in all the functions assigned to him.
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FEBRUARY - MARCH'16
Intelligent SME
INNOVATE TO SURVIVE
Leveraging innovation – a key accelerator for economic diversification Our approach to leveraging innovative technology has consistently had a direct, positive correlation to business performance and growth, says Hussein Hachem.
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ubai is a remarkable place for many reasons. The city has effectively leveraged its geographic location, at a strategic crossroads between east and west, to become a leading, international hub for trade and commerce in a matter of decades. At the center of global growth and development, it is truly a main port of
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passage for connecting nations and people from all corners of the globe. With more people passing through its airport than any other in the world, overtaking London Heathrow last year, and its establishment of a dynamic, international financial center, there is no question that Dubai’s list of achievements is impressive. The UAE’s place on the world map
however, is only one reason for this recent, rapid development – there is another critical element for the country’s future growth. This factor is the ability to effectively leverage innovation. I believe this is the key catalyst to facilitating growth and further diversifying the UAE’s economy. Innovative technology solutions are being introduced every
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Intelligent SME
INNOVATE TO SURVIVE day around the world, propelling some countries forward and leaving others behind. To accelerate the UAE’s growth and ensure its sustainable future, we must effectively leverage innovation. In my opinion, there are three areas of focus to closely watch for changing or evolving trends, which then determine how best a business can leverage innovation. 1) The industry they operate in, 2) Changes in consumer behaviour and expectations and 3) Wider global demographics. In the logistics industry for example, we routinely monitor these areas to find ways to effectively leverage innovation, both to develop the industry and better serve customers. Based on our findings and assessment, we identify the relevant technology and how best to deploy it. This is critical to implementing innovative technologies that are effective and sustainable. From my experience, this approach to leveraging innovative technology has consistently had a direct, positive correlation to business performance and growth. First, innovation in technology in the logistics sector is extremely important. Innovative technologies fuel e-commerce development, scheduling and delivering packages and maintaining exceptional levels of customer service. Drones and driverless trucks are even being considered for making deliveries in the near future, which would add an unparalleled element to crossborder trade. These technologies underpin wider business performance and are key to a logistics company’s sustainable development. There is no doubt that innovation in technology is critical for logistics players who strive to become market leaders, tap into new consumer bases or introduce new product offerings. Second, consumers are changing the face of retail, which in turn drives change in the logistics industry. We are seeing customers quickly adopt a number of new technologies being made available to them, whether it’s through new phone apps for placing orders and deliveries, mobile banking options, or being able to track a package in real-time. As consumers quickly change and adapt their preferences to using new, innovative technologies, logistics players must
GROWTH MONEY CUSTOMERS
INNOVATION
FUNDING CHANGES
TECHNOLOGY E-COMMERCE KEY
LEVERAGING
also be able to predict and successfully meet these demands. Not doing so could put their business at risk. Third, global demographics are quickly changing and are influencing logistics companies’ business decisions. Emerging markets are developing at a rapid pace, which has significant implications for the logistics industry. The Asia-Pacific is the fastest growing regional e-commerce market in the world, with a 35 percent year on year growth rate. Africa’s e-commerce market is also gaining traction, growing at about 25 percent year on year. This rapid emerging market growth is because of rising middle classes and increasing mobile phone penetration in highly populous countries and is transforming how people connect, communicate and shop - almost overnight. Because of this rapid growth, logistics companies must innovate faster than they would in developed markets to cater to this online shopping boom. Cargo trade routes across the east and west are also now outpacing the north and south, as economies in Africa and the Asia-
Pacific become highly attractive investment destinations for more developed markets in the US and Europe. Economies worldwide are better connected than they have ever been, which is putting pressure on the logistics industry to offer faster, more efficient services. To respond to and benefit from these trends, I believe that logistics companies must continue to innovate their last mile delivery technologies. While there are a number of components that make a logistics company successful, ensuring that
customers receive their packages on time and at their doorstep is key. If logistics companies make a concentrated effort to innovate their last mile delivery technologies, the benefits would be profound. We would make better use of data and tracking to reach more consumers off the grid, deliver packages faster, reduce likelihood of error or delay and improve the overall customer experience. I am confident that logistics players will make a strong push to innovate their last mile delivery technologies, further diversify our economy for a more sustainable future and positively transform the face of global trade.
Hussein Hachem, CEO of Aramex, a leading global provider of comprehensive logistics and transportation solutions headquartered in Dubai.
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FEBRUARY - MARCH'16
Intelligent SME
FINANCING INNOVATION
Innovation is the lifeblood of SMEs in the UAE Beehive survey details out the differences between the SME innovation culture in the UAE and that in Silicon Valley.
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pple. Ford. 3M. Tesla. Amazon. Their names roll off our tongues, without even a thought, when we think of innovation. They made an eternal mark on history, revolutionised industries, changed the world, and generally made a positive impact in
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our lives. They created industries and powered revolutions. They made the seemingly impossible possible and the mundane incredibly exciting. They are the innovators that symbolise the advancement of humankind. The UAE has long been seen as the centre of innovation in the Middle East
and continues to attract talent from all corners of the world eager to launch new ideas and business models. That is thanks, in part, to geography. But government policy plays a crucial role as well. The UAE is decidedly probusiness, supportive of diversification and embracing of technical and
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Intelligent SME
FINANCING INNOVATION
One of the key findings of our study was that 45 per cent of the SMEs surveyed believe that the definition of innovation in the UAE is adapting an existing idea to a new market.
technological development. In 2014, SMEs accounted for some 92% of all the businesses in UAE; they contributed around 60% to the UAE’s GDP and provided 86% of all private sector employment, according to the UAE ministry of Finance. SMEs are the lifeblood of any local economy, and innovation is the lifeblood of all SMEs. SMEs, by their nature, leverage innovation as a competitive edge to wage the proverbial battle of David versus Goliath. SMEs have to think differently, and they have to implement new ideas quickly in order to survive, especially in a competitive and saturated market such as the UAE. To commemorate Innovation Week in the UAE, Beehive, the UAE’s first peer-to-peer (P2P) finance platform, conducted an in-depth study of SME
innovation in collaboration with Thomson Reuters. The study looked into how SMEs in the UAE approach innovation, how they apply it for commercial success and how they can learn from each other’s experiences. Conducted in June 2015, the study is based on a roundtable discussion with some of the most successful SMEs in the country across a range of industries, coupled with an in-depth survey. One of the key findings of our study was that 45 per cent of the SMEs surveyed believe that the definition of innovation in the UAE is adapting an existing idea to a new market. Whereas entrepreneurs in Silicon Valley are more likely to innovate by bringing new products and services to market, entrepreneurs in Dubai more likely to adapt existing ideas to the region quickly and efficiently. They are often second-movers in the concepts that they apply, but first-movers in the local market. The biggest driver of innovation in the UAE was defined by 33 per cent of respondents as the competitive pressure of the market, with 26 per cent of respondents saying it was the desire for industry leadership and meeting consumer demand. When asked about key factors spurring future innovations, the surveys revealed three important themes: knowledge, community, and transparency. The study showed that SMEs feel that they have an innovative mind-set and the ability to generate creative ideas. However, many business owners don't fully understand how to successfully execute an innovation strategy, and leverage them for the long-term benefit of the company. Limited research and development budgets, rapidly changing
demographics and a lack of support from partners and clients prevent businesses from allocating time and resources to focus on innovation. A lack of funding to invest in innovation was the biggest barrier, with 51 per cent of respondents highlighting finance as a major enabler to innovation. Despite their significant contribution to the economy, SMEs continue to struggle to secure funds for growth and innovation. The International Finance Corporation (IFC) estimates that the current SME funding gap is approximately USD 260 billion within the MENA region. This lack of accessible finance options is a result of tightened credit checks by banks and reduced liquidity in a fragile market. Not surprisingly, survey respondents highlighted the need for greater financial stability as a central barrier to innovation, particularly in a market where the consequences of a default not only negatively affects ones business, but could lead to penalties such as travel bans or even jail for paying with cheques that bounce. Alternative finance options are addressing the need for faster access to lower cost financing by alleviating the constraints and high cost of conventional lending. And they are proving popular with SMEs. Since Beehive was launched in 2014, the company has channelled almost AED 25 million to around 50 SMEs in the UAE, with no defaults from the businesses to date. It is clear that funding has a big impact on innovation for SMEs in the region. But by providing SMEs with more financing options, supportive infrastructure and accommodating government support to focus on innovation, we can help fuel the ambitions of the SME ecosystem, and be catalysts for innovation within the SME community.
Craig Moore – Founder & CEO of Beehive. As Founder and Craig is responsible for overseeing the overall strategic direction and managing the day-to-day operations of Beehive.
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FEBRUARY - MARCH'16
Intelligent SME
IP PROTECTION
IP Management for SMEs ‌ Now is the right time
Essam Disi of Dubai SME outlines how best to manage intangible assets - ranging from human capital and know-how to ideas, brands, designs and other intangibles.
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longside human creativity and inventiveness, Intellectual Property (IP) is all around us. Every product or service that we use in our daily lives is the result of a long chain of big or small innovations, such as changes in designs, or improvements that make a product look or function the way it does today. Therefore, intellectual property protection is critical to fostering innovation. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development. Regardless of what product your SME makes or what service it provides, it is likely that it is regularly using and
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creating a great deal of intellectual property. Almost every SME has a trade name or one or more trademarks and should consider protecting them. Most SMEs will have valuable confidential business information, from customers' lists to sales tactics that they may wish to protect. A large number would have developed creative original designs. Many would have produced or assisted in the publication, dissemination or retail of copyright work. Some may have invented or improved a product or service. Consequently, SMEs should systematically consider the steps required for protecting, managing and enforcing IP, so as to get the best possible commercial results from its ownership. On the other hand, the
intellectual property ecosystem has many other players and SMEs don’t need to do everything alone. In recent years, governments in the region have started to give more attention to supporting innovation and IP creation. Most of the focus has been on IP protection and much less on IP creation and commercialization. The UAE has always been a supporter of innovation. A collaborative effort among public and private stakeholders is driving diversification where entrepreneurs and SMEs play a huge role, encouraging the innovativeness and entrepreneurial aspirations of UAE’s young generation. Going forward, the UAE government is focused on promoting R&D and innovation:
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Intelligent SME
IP PROTECTION Building on the nation’s strategies, the Dubai’s 2021 plan also entails a strong focus on innovation to achieve sustainable economic growth and improvements in productivity levels.
With all these plans and upcoming initiatives, SMEs should consider how best to manage their intangible assets - ranging from human capital and know-how to ideas, brands, designs and other intangibles. SMEs should realize that IP may assist them in almost every aspect of business development and competitive strategy, from product development to product design, from service delivery to marketing and from raising financial resources to exporting or expanding your business abroad through licensing or franchising. In the coming years, we expect to see the Government providing more encouragement and support to hightech start-ups and other innovative SMEs through grants, guarantees, subsidies and/or soft loan schemes, which are provided via various public funding institutions and banks that directly or indirectly recognize the importance of intellectual property assets. In addition, there is growing awareness that intellectual property (IP) assets can be monetized. It can be sold, licensed or used as collateral or security for debt finance, or it can provide an additional or alternative
basis for seeking equity from friends, family, angel investors, venture capitalists, specialized banks and even from regular banks.
Essam Disi is the Director of Strategy and Policy at Dubai SME, a government agency under the Dubai Department of Economic Development, tasked with the development of Entrepreneurship and Small & Medium Enterprises (SMEs) in Dubai.
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FEBRUARY - MARCH'16
Intelligent SME
THE END GAME
Determining exit options for your startup George Deeb of RedRocket Ventures, a growth consulting, executive coaching, shared executive and financial advisory firm based in Chicago says that startups need to forget about the IPO as an exit and focus on other options.
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opefully, you are not already thinking about an exit for your startup. But, it is always good to have a sense to what your long term exit options are, in case prospective investors (or you) are curious about how to liquidate their investment down the road. Your exit options basically come down to: (i) selling the business outright; (ii) merging the business into another entity; and (iii) taking the company public. We will discuss each of these options below. Selling your business outright is your most logical exit opportunity for most
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startups. Here, we are talking about selling to a corporate or financial buyer that sees value in what you have built (e.g., your technology, market share, client list, cash flow, growth vehicle for them). So, make sure value has actually been created in your business over time, to attract a buyer long term. Most buyers are going to look to management to stick around for at least some period of time, to help transition the business. Corporate buyers will need a 6-12 month transition and financial buyers could require you to stick around longer term to lead the next
phase of the company's growth. In this scenario, you have sold 100% of the assets or equity of the business, depending on the deal structure, in exchange for cash, equity or other compensation, either paid up-front or spread out over time. In the merger scenario, it is largely the same as a corporate sale, but instead of selling 100% outright, perhaps you merged with an equallysized, similar business in a 50%/50% merger. In such case, you most likely took equity, instead of cash up-front. Which means, you would need to create a mechanism for the merged
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Intelligent SME
THE END GAME business to distribute funds to you over time, to repurchase your 50% stake with cash from operations or otherwise. And, in this scenario, the combined entity may not need your management team, since they already have a team in place running a similar business. Although cash sales for 100% are my preference, deals like this can sometimes make sense where a bigger entity may be more appealing to a long term buyer (e.g., you are too small to attract buyer interest on your own, but combined with a bigger business you are more attractive). And, this road also makes sense when you are trying to phase out of the business, but don't need immediate cash to facilitate your exit. As for an IPO, "fuhged about it" (said with my Robert De Niro accent). Very few startups reach the scale of being able to take it public, and of the ones that do, only the creme-de-la-creme actual do go public. And, for most of the last few years, the IPO markets
Selling your business outright is your most logical exit opportunity for most startups. Here, we are talking about selling to a corporate or financial buyer that sees value in what you have built (e.g., your technology, market share, client list, cash flow, growth vehicle for them).
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have basically been closed altogether based on poor market conditions, and only recently have premium companies like LinkedIn, Zynga, Groupon, Facebook and Pandora decided to give it a shot. And, if you are lucky enough to build a successful business like that, running a public company is a complete pain, dealing with public shareholders, reporting quarterly earnings and disclosing all your financial information to all your competitors. Unless the valuation upside is materially higher than a corporate sale route, I suggest avoiding the IPO route altogether.
George Deeb is a Managing Partner at Chicago-based Red Rocket Ventures, a growth consulting, executive coaching, shared executive and financial advisory firm based in Chicago.
FEBRUARY - MARCH'16
Intelligent SME
OPTIMAL DIGITAL
Address four points to digital media presence Deepak Babani, CEO, Eros Group, outlines the building blocks to success in marketing via digital platforms. the company/brand needs to have live and relevant content so when any of your clients decide to ‘follow’ or ‘like’ or ‘watch’, they see a dynamic and active organization and not outdated content.
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owadays, entrepreneurs book the domain name and create social media pages even before they form the organization or register their trade. Creating a digital footprint is very important for any organization but like
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any other media vehicle it is important to choose the right product. The digital space is vast and spreading yourself thin with presence across various products will do more harm than good. ‘Like us’, ‘Follow’, ‘Watch’, ‘Pin’ etc.. may look good on the visiting card but
It is very important to address four points while developing your digital presence. 1. Is your business built on a B2B or B2C model? This is most important as each model brings different products into play. In a B2C model, social media sites like Facebook, Twitter and Pinterest play a vital role in engaging with your audience. They also allow you to keep your audience updated daily with the latest activities, offers and other benefits. In a B2B model, social media sites play a lesser role and it is better to make a digital presence through a well-developed and up-to-date website (this is also important for B2C) and online business directories which will help in SEO. Using sites like LinkedIn to put out regular articles or even creating a blog would be highly beneficial in regularly interacting with your clients on latest developments and technology changes. 2. Have you allocated budgets for the digital realm? While the digital revolution started as a cheaper alternative to traditional media it has evolved quickly into an important media vehicle by itself. It is important that budgetary allocations are studied and planned for digital presence and for marketing too. Professional agencies specializing
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Intelligent SME
OPTIMAL DIGITAL in web development, community management and SEO optimization bring a lot to the table. It is better to start early on this front and rein in professional agencies so as to seamlessly integrate the digital story into your business plans. 3. Analyse your digital activity: This part provides the best cost benefit aspect of the online medium. You can analyse all your digital activity with a historical perspective as well as in real time. Measurement and analysis tools like Google Analytics and SocialBaker amongst others, allow you to analyse your activities, as well as site positivity on most digital areas. This provides a much needed flexibility in allowing you to modify your communication in order to get the desired results. 4. Be socially aware: The fast evolution of the digital space has made ‘word of mouth’
marketing seem like a snail. Virality is a key component to ensure growth and visibility for your activity. However a misstep can result in negative virality
Virality is a key component to ensure growth and visibility for your activity. However, a misstep can result in negative virality and that sometimes takes much longer to overcome.
and that sometimes takes much longer to overcome. In UAE it is important to be socially and culturally aware as the country is home to over 180 nationalities. This is just a brief overview of the digital landscape as you go about laying the building blocks of your organization. It is important to remember that the online world is fast evolving and the next big thing is always just around the corner. It might just be, you. Deepak J Babani has been with Eros Group for over 30 years. Mr. Babani has spearheaded the growth of Eros Group from a turnover of Dhs 6 million in 1981 to over Dhs 4 Billion in 2010.
Finesse wins Global Enterprise Connect Awards - 2015 ‘ Business Intelligence Specialisation SI of the Year ’
FEBRUARY - MARCH'16
Intelligent SME
PROPERTY TALK
Is it a good time to buy property? Property prices in Dubai are definitely not high, or low by any means. It is based on individual’s perception and choice of location. The reality is that property price in Dubai is higher than cities ranked between 26 and 93, but much lower than those ranked between 1 and 25 says Rizwan Sajan.
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good number of people think that property prices in Dubai are too high. I keep hearing this quite often. Although terms ‘high’ or ‘low’ are relative, however, this is far from true. Property prices in Dubai are definitely not cheap – or low – by any means. However, one has to look at the
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city’s relative status as a global hub, a business and financial centre, in line with a like-for-like comparison. In terms of connectivity, not other city is better connected to the rest of the world than Dubai. So, price comparison should be made amongst such cities that match the status of Dubai, such as London,
New York, Tokyo, Hong Kong and Singapore. If one looks at property prices in these cities, Dubai comes at the bottom of the list. Global Property Guide prepared a list of the world’s most expensive cities based on the price of properties per square metres in which Dubai ranks 25th among 93 cities. It might surprise many people that house prices in Dubai per square metres are less than half of what they are in Mumbai, India, according to the Global Property Guide. Property prices in Dubai are also much lower than in Hong Kong, Singapore, London, New York, Helsinki and Dublin. Talk of property prices being ‘very high’ or ‘low’ is based on individual perceptions and not on reality. The reality is that property price in Dubai is higher than those cities ranked between 26 and 93, but much lower than those ranked between 1 and 25. While talking about property prices, one tends to forget the most important thing – location – that determines the price of the asset per square metre. So, price of an apartment at the International City is drastically lower compared to that at the Burj District or Dubai Marina. Even across both sides of Sheikh Zayed Road, prices of apartments differ between Dubai Marina and Jumeirah Lake Estates due to one area’s close proximity to water and the marina. Besides, price or value of a property
The current pricing provides a good opportunity for buyers – both end-users and investors
also varies due to the demand and supply situation. An apartment that is priced at Dh1 million during recession, might had a price of Dh1.5 million during the height of the property boom. It’s the same apartment – but two different prices separated by the market dynamics. So, property value and prices are quite relative terms. What is ‘cheap’, could be ‘expensive’ and what is perceived to be a ‘good buy’ could turn to be a ‘bad investment’ – depending on the timing of the investment. One has to make the purchase at the right time. When it comes to investment in property, hitting the bull’s eye is not enough. One has to also look at the timing of hitting the bull’s eye – it has to be the right time. Otherwise, the right investment could turn into a ‘worse nightmare’! Coming back to the current status of property prices in Dubai, there is no denying that the prices are on the decline since last year, simply due to the fact that there are a less number of buyers in the market. After the unsustainable growth surge of the last two years, Dubai’s housing
market is now slowing sharply, and the same is true in Abu Dhabi. During the year to April 2015, Dubai’s allresidential property price index (RPPI) fell by 2.8 per cent, the first month of y-o-y decline since March 2012 and in sharp contrast with the spectacular 37.5 per cent surge during the same period last year, based on latest figures released by Reidin.com. When adjusted for inflation, Dubai house prices actually dropped 6.8 per cent over the same period, a report said. Dubai's property market has been one of the world's most volatile. Dubai saw one of the world's worst housing crashes with house prices plunging 53% from Q3 2008 to Q3 2011. The housing market started to recover in Q2 2012 with double-digit house price increases since then. The current pricing provides a good opportunity for buyers – both endusers and investors. Needless to say, if the prices continue to slide then the level of opportunity will increase. So, if anyone wants to know whether this is the right time to buy, one could wait to see if prices decline further – till the lowest point. The best time to buy property or equity is when the prices
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Intelligent SME
PROPERTY TALK
hit the rock bottom – just as they hit the lowest point before recovering. One’s greed might encourage one to wait for the last minute – although one seldom knows when prices hit the bottom of the curve. If you are not greedy, then the right time to buy or invest in property is ‘now’. Those who have investable savings, start looking at the property landscape for apartments of villas to match their budget for investment. With oil and gold trading at low prices, the global economy is also facing challenges. So, a very interesting time has come about for investors, especially those looking at the real estate market. Dubai leads the region’s developed cities for attracting investment. The time to act is now!
Rizwan Sajan is Founder & Chairman of Danube Group. The Danube Group was founded by Rizwan Sajan in 1993.
UAE Free Zone Company Formation Offshore Company Incorporation Offshore Banking Company Administration Directorship Services
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FEBRUARY - MARCH'16
Intelligent SME
FINANCING OPERATIONS
Financing as essential as selling your product or service Payments and salaries are just one aspect of finance but if an SME wants to sustain for the long run then there is a need to properly structure the finance model for your business and cover all the segments - product selling, suppliers’ payments and the necessary buying to run daily operations.
I
n many respects the success of an SME is not measured against the profit it makes but whether it has enough cash to meet its immediate payment requirements. To achieve this, every SME allocates most of its resources to achieving sales and then chasing customers/clients to make payments thereby generating enough cash to survive. Very little is made available to operate it. For many in the UAE, the requirement to pay salaries on time has been a game changer. No longer can companies delay salaries and it has forced owners to ensure there is enough cash in the bank to meet this expense every month. The well-known difficulties in getting companies to pay suppliers means that it is quite stressful to find this amount of cash every month as I am sure you are all too aware. Payment of salaries is just one aspect to financing your business and, if the sustainability of your business is to be achieved then it has to do more than simply get enough cash to be able to survive from day to day. Therefore there is a need to properly finance the business in a way that reflects the realities of working in this region. Unless you are fortunate to have your own capital, it will be necessary to find finance to help you achieve the goals that have been set. Raising finance is difficult but the mistake that is often made is not to ask for enough at the start of the process. Whether the capital is being
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provided by family or friends, the bank or angel investors, it is in reality just as difficult to raise AED 100,000 as it is AED 1,000,000 or more so make sure you are in a position to ask for what you need! It is always wise to hire an accountant to help you in this endeavour but here are four steps you can take to ensure you are in the best position to achieve success.
Know where you want to get to
Decide where you want your business to be in three years’ time. It is not enough to say you want to get larger. Put targets that are measurable. For example I run three shops today but want to have ten in three years’ time. By making
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FINANCING OPERATIONS this statement you will know what needs to be done to achieve success and more importantly you will have an idea of how much cash and when you will need it to get there. Identify milestones along the way by creating a business plan so you can monitor progress and ensure you can repay any amounts you have borrowed.
Understand that finance needs to be repaid
Many business leaders make their presentation on the basis that they have a product or service that everyone will want to buy. The reality is of course very different and the lender knows this and is more concerned about getting their money back than your business success. Therefore think about your application from the perspective of the lender. Address concerns that they might have upfront and be prepared with accounts; usually audited.
Payments and salaries is just one aspect of finance in your business
Know the difference between capital expenditure and working capital
Too many businesses do not work out exactly what they will need to make their plan a success. It is relatively easy to identify build and fit out costs (Capital Expenditure) but that in itself is not enough to create a sustainable business. Having enough working capital to meet the day to day needs of the business is just as critical. In this respect, work out how much it costs to run your business for three to six months without receiving any income and ensure that this amount is included in any request. Try and keep at least one month’s costs in your bank account as a reserve so that you can always meet unforeseen expenditure.
Capital Capital is an amount of money that is invested in the business for the long term without any specific repayment terms and often confers an ownership interest. Capital is typically returned only when the business is sold but interim payments (dividends) can be made depending on the performance of the business. The most common form of capital is shares and this group are interested in growing the value of the business. Sources are family and friends, angel investors and venture capitalists and as they are interested in the success of your business, they may want to receive regular reports on progress Long Term Finance Long term finance is money which the lender expects to be repaid over an extended period usually between three to five years. Lenders will charge a fee for this service that usually take the form of interest payments. Commonly long term finance is secured against an asset such as a car, a piece of plant and machinery, or a property but here do not expect to be lent money over a 25-year period as you would with your own property. If payments are not made the lender will take control of the asset. They are only really interested in your business to the extent that it indicates the likelihood of repayment. Sources are banks and asset financiers Short Term Finance Short term finance is finance that is provided to meet short term needs. The most common form of short term finance is the overdraft provided by banks. This is one of the most important sources of finance as it enables short term issues on cash flows to be smoothed. It should not be regarded as a permanent loan. Sources are family and friends and the banks.
Know what different forms of finance are available
Providing finance is like any other business sector in that financiers provide different products or services. Take some time to learn the market and use it appropriately to identify the right source of finance for your business. Finance can be divided into three elements as follows:
Simon HODGES is a Chartered Secretary and a Member of the Institute of Chartered Secretaries and Administrators, the globally recognized and professional body for governance professionals.
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HYBRID FOCUS
VISION 2016 FOR TOYOTA IN THE UAE Roberto Da Silva, General Manager Retail, Al Futtaim Motors-Toyota talks about the company's hybrid technology push and what will make Toyota tick in 2016.
YOU HAVE BEEN IN THE AUTOMOTIVE RETAIL BUSINESS FOR SEVERAL YEARS IN THE UAE. WHAT DO YOU FEEL HAVE BEEN THE MAIN HIGHLIGHTS OF YOUR JOURNEY?
a. We at Al Futtaim Motors have a customer-centric approach, committed to
continuously enhancing the quality of our customer experiences. Therefore, I remember that when the automotive industry was hit by some global challenges a few years back, we chose to make use of these times to train and develop our associates and enhance our processes to be better equipped for the future
b. Seeing the business grow has been a source of pride for me personally. We have a very dedicated and hardworking team at Al-Futtaim Motors, and this has shone through with the consistent growth that we’ve seen over the past couple of years. We also launched three all-new Toyota Business Centres, dedicated to serve our SME customers in Abu Dhabi, Dubai, Sharjah and the Northern Emirates. This means exclusive account management, faster enquiry response, vehicle registration support, and dedicated delivery process, aftersales packages, leasing facilities, Total Cost of Ownership (TCO) approach and Fleet Management consultancy, ensuring Al-Futtaim Motors’ SME customers experience the company’s full range of Toyota Business Solutions.
WHAT BUSINESS OBJECTIVES HAVE YOU OUTLINED FOR AL FUTTAIM MOTORS-TOYOTA FOR 2016?
a. Growth is of course top of mind for all of us here, and this is something that we’ll be targeting for 2016. Particularly, we are looking to develop our SME offering even further. Last year, we introduced several solutions that have assisted our customers in getting their businesses up and running faster, and this is something we’ll fine-tune even more this year. b. We believe the introduction of Toyota Prius, the new hybrid car, will lead the future of the mobility in the UAE. We remain the industry leader and hold our role as a responsible corporate citizen in high regard, which means it is our priority to increase awareness about hybrid technology among SMEs as an eminent solution to not just petrol savings, but also allowing them to play their part in the UAE Vision 2021 goal of a green society. 46 www.intelligentsme.com
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HYBRID FOCUS
TOYOTA WILL EQUIP ITS CARS WITH SELF-DRIVING SYSTEMS BY 2020. WHY ARE YOU STEERING TOWARDS THE DIRECTION OF SELF-DRIVING CARS?
a. We have not had any direct talks
with the Principals on this technology as of yet.
WHAT PHILOSOPHY DOES TOYOTA FOLLOW ON SAFETY AND SECURE SYSTEMS?
on vehicles in each stage of driving, Toyota is aiming to develop safe vehicles for everyone.
c.
The development of Toyota Safety Sense is a new dimension of comprehensive integrated safety, and it was developed with focus on collision avoidance support, lane deviation prevention support and night visibility support, in order to reduce and in the future eliminate accidents.
Toyota but for Al-Futtaim Motors as the sole distributor in the UAE as well.
HOW IS THE BRAND MODIFYING ITSELF FOR THE NEXT-GENERATION OF TRANSPORTATION SYSTEMS?
b.
a. Toyota is the worldwide leader
a. Safety is a priority not only for
Toyota’s philosophy of “Ever Better Cars” encompasses safety as one of its principles. By linking the innovative safety technology system equipped
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in hybrid technology and fuel cell technology, with a large line up of hybrid cars and recently the first commercial fuel cell vehicle, the
Toyota Mirai.
b. As a sign of how serious Toyota is about reducing emissions, Toyota issued itself the “Environmental Challenge 2050”, the goal of which is to go beyond zero environmental impact and achieve a net positive impact. The six challenges within are new vehicles with zero CO2 emissions, life cycle zero CO2 emissions, plant zero CO2 emissions, minimizing and optimizing water usage, establishing a recyclingbased society and systems, and finally, establishing a future society in harmony with nature. c. More information about the Toyota
challenge can be found at http://www. toyota-global.com/sustainability/ environment/challenge2050/
ACCORDING TO AN EXPERT
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HYBRID FOCUS ARTICLE, TOYOTA RELIGIOUSLY FOLLOWS THE MANTRA OF ‘CUSTOMERS FIRST, DEALERS SECOND—AND MANUFACTURER LAST’. WHAT IS THE STORY BEHIND THIS ETHIC?
a. Customer first approach is very much our mantra. The customer is at the center of everything we do, in the aim of elevating the overall customer experience at every touch point of his journey with us. b. New facilities that have fast and personalized aftersales experiences, such as our Al Badia 3S facility, new digital solutions including a brand new website and the region’s first virtual showroom tour, are just a few of the projects we have implemented to ensure a unique and carefree purchasing experience from AlFuttaim Motors. TOYOTA HAS ALWAYS BEEN COMMITTED TO UPGRADING THE SKILLS OF ITS WORKERS RATHER THAN TO A HIRE AND FIRE POLICY. DURING THE 1997 ASIAN FINANCIAL CRISIS, HIROSHI OKUDA, PRESIDENT OF TOYOTA INDUSTRIES CORPORATION, STATED “CUT ALL COSTS, BUT DON’T TOUCH ANY PEOPLE”. TODAY THE MARKET HAS BECOME MORE CALLOUS AND VOLATILE, SO HOW DOES TOYOTA FOLLOW ITS PEOPLE PHILOSOPHY?
a. Al-Futtaim Motors has been part of the fabric of this nation for more than 60 years, having celebrated our diamond jubilee last year. Being part of the Al-Futtaim Group of companies, we believe that our talent is our greatest asset, and an integral part of our strategy has been developing our own infrastructure, as well as developing the manpower with which to maintain it, something that has been essential to our success. b. The Al-Futtaim Automotive Academy is dedicated to providing essential training to develop the required skill sets for all of our associates. We have even developed a stage for associates to showcase what
The introduction of a popular hybrid solution such as the Toyota Prius will drive the regular populace to contribute to lowering emissions in the UAE. they have learned at the National Skills Contest, as well as other initiatives to keep our associates motivated to not just deliver results, but also have the passion to learn more and develop themselves in the workplace.
c. Additionally we have recently added a certification program for our frontline Sales Executives whereby our teams have to complete a number of rigorous customer-centric development plans in order to attain this much sought after certification. ARE YOU OFFERING ANY NEW SERVICES AND SCHEMES FOR SMBs THIS YEAR?
a. Our latest SME offer is something we’ve called “Triple Zero”, which offers zero down payment – with several different options to support any type of business, zero interest rate through our extensive banks network, and zero payments for 3 months. HOW DO YOU MAINTAIN BRAND DIFFERENTIATION FROM OTHERS?
a. Toyota is known for its quality, durability and reliability. More importantly, total cost of ownership is the best in the business, and it’s backed by 60 years of experience from Al-Futtaim Motors. On the total cost of ownership front, Toyota vehicles have the best residual value, best fuel consumption, best
management costs and of course, best service, maintenance and repair costs. Combining all of these means that a business’ Toyota vehicles spend more time on the road, where they are meant to be, for longer.
WHAT ARE THE AUTOMOTIVE TRENDS YOU FORESEE IN 2016?
a.
We believe hybrid is the future and 2016 will be the stepping stone for this technology to show what it can offer to the UAE. We have already seen how hybrid technology can help businesses, with many taxi corporations relying on a fleet of Camry hybrid cars to save not just money, but also drastically lower pollutant emissions. We hope that the introduction of a popular hybrid solution such as the Toyota Prius will drive the regular populace to contribute to lowering emissions in the UAE, helping the UAE Government achieve its environmental targets before Expo 2020
PLEASE TELL US WHAT SMBs CAN LEARN FROM TOYOTA?
a. The Toyota way revolves around the philosophy of “Kaizen”, a Japanese word that means “continuous improvement”. At Al-Futtaim Motors, we implement this philosophy in everything we do, whether in the cars we sell, the services we provide to our customers, or being a good corporate citizen. b. This is driven by our group vision to be the auto company of choice by providing value based customer experiences enabled by an empowered and engaged workforce – choice, value, empowered and engage being powerful words that sit firmly behind our vision… choice for customer, employees and manufacturers and adding value to our customers experience. Improving the way we conduct business as well as the way we work within our business units has enabled us to become the largest dealer in the UAE, with unrivalled market share, products and services. That is the philosophy SMBs need to embrace in order to grow. 49 www.intelligentsme.com
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BUSINESS EXCELLENCE AWARDS
MENAA Best Business Leaders Award 2015 Shantanu AP, CEO, SPI Group is one of the recipients of the 2015 MENAA Best Business Leaders Awards.
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he 3rd Annual MENAA Awards was held at Burj Al Arab, Dubai, on Thursday 10th December 2015 for the business community of MiddleEast, North Africa, South Asia and Asia Pacific regions. The event was jointly organized by MENAA Award Organization, Federation of Awarding Bodies UK, and Hamayesh Farazan Organization. Nearly 160 attendees from 50 companies received awards at this red carpet, black tie event. The phenomenal success of this event echoed with praise for the winners who not only celebrated their accomplishments and received their awards on an international stage, but
Winners of the 3rd Annual MENAA Awards
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also enjoyed stellar presentation, a delectable fine dining experience and sensational performances. Commenting on his win, Ahmed Alhatti Chairman of Cayan Group KSA, said “Needless to say, I am extremely pleased to have been chosen as a recipient of this coveted Award among other industry stalwarts. The MENAA Best Business Leaders Award is a benchmark and the definitive award which celebrates the spirit of excellence in business leadership and sets industry standards in the region. I am thus honoured to represent the Kingdom of Saudi Arabia at the awards.” Dubai Duty Free’s Executive Vice
Chairman, Colm McLoughlin said “I am delighted to accept this award and dedicate it to our Chairman, H.H. Sheikh Ahmed bin Saeed Al Maktoum who is an excellent leader. I have been involved in the retail business for over 45 years, including 32 at Dubai Duty Free, and I am as enthusiastic and excited about this business as ever. I would like to thank the management and staff at Dubai Duty Free, who work hard to ensure the operation’s ongoing success.” CEO of AXA Gulf Insurance, Cedric Charpentier, said “We’re extremely proud to have received this award. It seems like a personal award but it’s definitely not. I dedicate all this to my
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BUSINESS EXCELLENCE AWARDS
Shantanu AP, CEO, SPI Group honoured with the Best Business Leaders award
team in AXA Gulf Insurance” Union National Bank CEO Mohammad Nasr Abdeen said: “We are seeing people from different countries and industries, which is great. They are gathered in Dubai for such a great opportunity. We wish the best for each and every one.” The award was presented by Mr. Stephen Wright, Chairman of the Federation of Awarding Bodies (FAB), Mr. Kevin Soltani, Dean of American Liberty University, and Wolfgang Riebe.
Best Business Leader Award Winners: Mr. Mohammad Khangah Zadeh, CEO Aftab Sahel Gheshmi Mr. Majid Alikhan Zadeh, CEO Alvan Paint & Resin Production Mr. Bilal Hamadeh, CEO Avis Rent A Car Mr. Cedric Charpentier, CEO AXA Gulf Insurance Mr. Ali Favakeh, CEO Bagro Fastfood Mr. Hossein Mohammad Pour Zarandi, CEO and Vice Chairman City Bank of Iran Mr. Abdul Hakeem Al Ojaily, CEO BankDhofar Dato' Seri Dr Edmund Goh, CEO BHG Group Mr. Gholamreza Attaran, CEO Biz Mr. Ahmed Alhatti, Chairman Cayan Group Mr. Suhail Al Gosaibi, CEO Dream Body Center Mr. Mohammad Reza Navaii Lavasani, CEO Didar Iranian Mr. Colm McLoughlin, Executive Vice
Chairman Dubai Duty Free Mr. Mohsen Amiri, CEO Espinas Palace Hotel Mr. Khalid Al Khudair, Founder & CEO Glowork Dr. Hassan Mohammadpour, CEO Guzel Mr. Bikash Sharma, President International Academic & Management Association Mr. Sadegh Faramarzi, CEO Iran Kish Credit Card Co. Mr. Andreas Borgmann, CEO KCAL Mr. Hamidreza Poorghazi, CEO Kishwood Professor Emeritus Tan Sri' Dato Sri' Paduka Dr. Lim Kok Wing Founder & President, Limkokwing University of Creative Technology Worldwide Prof. Tan Sri Dato' Wira Dr. Mohd Shukri Abd Yajid, President Management & Science University Mohammad Reza Jabbari, CEO Marina Park Hotel Mr. Abdulaziz Alghurair, CEO Mashreq Bank Dr. Bhakta Hari Agasti, CEO Mn. Alloys & Reductant Consulting W.L.L Mr. Mohammadebrahim Tahsiriy, CEO Moallem Insurance Mr. Ahmad Al-Mutawa, CEO Mubaader Services Mr. Mohammed Abdul Rahim Al Fahim, CEO Paris Gallery Mr. Hamid Motahari, CEO Parsa Novin Co. Mr. Ali Darroudi , CEO Parskilka Mr. Ali Zebardast, CEO Paya Tarho Form
Mr. Farzad Ayoubzadeh, CEO Petro turbine Co. Mr. Meisam Moazami, C EO PetroSazeMobin Mr. Khaldoon Al Yahya, CEO Refocus Media Mr. Javad Azizi, CEO Sahar Co. Mr.Farhad Nilforoushan, CEO Sehat Mr. Carl Kapadia & Shaji George , Showtech Electronics LLC Ms. Banu Altay, General Manager Sia & Moore Architecture & Interior Design Mr. Hemant Kambli, CEO Skyline General Trading LLC Mr. Shantanu AP, CEO SPI Group Mr. Mohamad Khawaja, CEO Startappz.com Ms. Parvin Azizi, CEO Tanin Mr. Mahesh Shadadpuri, CEO TASC Outsourcing Ms. Fatima Al Shirawi, CEO The Gracious F Mohamed El Aghoury, CEO The Meydan Hotel Mr. Emre Ismail Oglu, UAE Country Manager Turkish Airline Mr. Mohammad Nasr Abdeen, CEO Union National Bank
Customer Delight Award Winners: Mr. Subair Kutty Muneer, Chairman ADONIS DÉCOR LLC Mr. Abdul Hakeem Al Ojaily, CEO BankDhofar Mr. Naveed Abdulla, Publisher BQ Magazine Mr. Shahriar Khodjasteh, CEO Dubai Desert Extreme Mr. Bikash Sharma, President International Academic & Management Association Mr. Phillip Smith, Khaleej Times Ms. Fatmah Azam Ali, Master English Education & Training GCC Dr. Bhakta Hari Agasti, CEO Mn. Alloys & Reductant Consulting W.L.L Ms. Nisreen N. Abu Hadba, Customer Experience & Quality Director Orange Jordan Mr. Mohammed Abdul Rahim Al Fahim, CEO Paris Gallery Mr. Khaldoon Al Yahya, CEO Refocus Media Mr. Carl Kapadia, Head of Strategy & Business Development Showtech Electronics LLC Ms. Fatima Al Shirawi, CEO The Gracious F Mr. Firoz Thairinil, CEO Westford School of Management, Sharjah
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SMEWORLD 2016 SHOWCASES MENA REGION’S ENTREPRENEURIAL FLAIR
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SME World Summit 2016 Celeberating Entrepreneurship
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The 3rd edition of the region’s largest entrepreneurship summit, to be held in Dubai features over 2,000 confirmed attendees including entrepreneurs, business magnates, investors, heads of Government departments and C-suite executives from across the MENA region.
o be held on 15th March 2016 at Atlantis, The Palm Dubai and themed ‘Enabling Global Ambitions,’ the conference is a celebration of success that engages small and medium businesses and helps them emerge as leaders in their respective fields on a global scale. Organized by SPI Group, UAE’s top SME platform, in partnership with Dubai SME, the conference boasts powerful keynotes from international speakers, engaging panel discussions, strategic workshops, an exhibition showcasing leading service providers. As a platform honouring the aspirations of every entrepreneur and acknowledging their efforts to revive and revolutionize the economy, the SMEWorld Summit 2016 will include a grand art expo with 25 international artists showcasing their masterpieces and conclude with a spectacular fashion show featuring 2 leading fashion designers brandishing a corporate summer collection. “Dubai epitomises the success of SMEs in driving innovation global competitiveness and sustainable development. The Dubai SME 2021 Strategic Plan focuses on elevating the accumulated resources and capabilities of SMEs to a wider international stage and we see SMEWorld 2016 as an appropriate forum to showcase the UAE’s SME potential before key industry players worldwide,” commented Abdul Baset Al Janahi, CEO of Dubai SME. Announcing the details of SMEWorld 2016, Shantanu AP, CEO of SPI Group, said: “SMEWorld 2016 is for SME owners and investors looking to develop new connections, gather critical leadership insights, improve perceptions and gain inspiration. It celebrates the hopes and ambitions of each entrepreneur who strives in a challenging environment. It cherishes every innovative mind that seeks to bring change, every leader who aims to rise, and every investor willing to take risks to create value. Regional SMEs will find ample assistance as they move towards realising their global expansion aspirations at the conference.” John Lincoln, Senior Vice President for SMBs at Etisalat, said “Small and Medium
businesses are the backbone of the UAE economy and we are keen to see many more of them succeed. We have created several customized solutions and business packages that take into account their needs of value pricing, transparency, flexibility and predictability, and we will continue to support their growth. Our partnership will SMEWorld is testament to the high priority we accord to this sector and we look forward to building on this platform.” Vikas Thapar, Head of Business Banking, Emirates NBD reiterated the bank’s commitment to the SME sector adding, “Small and medium companies are the engine of growth for any economy and as a flagship UAE bank, Emirates NBD is deeply invested in creating opportunities for growth for this critical sector. We are honoured to support SMEWorld Summit as we share a mutual commitment to creating powerful platforms of growth for SMEs in the UAE to engage, network and develop.” According to Roberto D’Silva, General Manager, Al-Futtaim Motors, “We continue our fruitful association with SMEWorld summit that has continued since its inception. We are excited to be part of this year’s event and anticipate another grand conference. Al-Futtaim Motors helps SMEs with our industry leading business solutions, ensuring that Toyota is the automotive partner of choice for them.” The SME Service Provider Expo at SMEWorld 2016 will see the region’s SME service providers showcase their products and services, present their success stories and share their growth plans with industry, governments, investors and the general public. Panel discussions at the summit will feature global thought leaders as they present their insights on entrepreneurship. SMEWorld 2016 will feature insightful and engaging workshops with the industry’s leading thought-leaders. SMEWorld 2016 is a must attend event for entrepreneurs, investors, service providers and business enablers from the MENA region. It provides some of the best opportunities for business growth and brings together leading entrepreneurs and businesses under one roof. Emirates NBD, Etisalat and Al Futtaim Toyota are lead sponsors and Kobo is the art gallery partner of SME World 2016.
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SME World Summit 2016 Celeberating Entrepreneurship AURION
Aurion is a professional service provider for incorporation of 100% expatriate owned free zone companies in the UAE and mainland companies and offshore companies in jurisdictions like British Virgin Islands, Cayman Islands, JAFZA Dubai, RAKIA Offshore and UAE Ajman Offshore. It also provides assistance in bank account opening with leading banks of UAE, business loan arrangements, accounting assistance, visa and PRO services, chamber of commerce registration, logo creation & website, ISO 9001:2008 consulting and certification assistance and a host of other services. Renowned in their field for a decade, AURION is one of the pioneers in company incorporation and related activities in the UAE. THE BOX ME
The Box is a Dubai SME 100 and a leading storage and moving provider in the UAE that caters to personal and business needs. The company was founded in 2007 and has grown exponentially since then with more than 25 facilities. With secure lockable storage units ranging from 25sqft to 3,000sqft, The Box also provides larger warehouse spaces enabling start-ups and SMEs to store and operate their business from a convenient location with access to workspace, call centre, order fulfilment and transportation services. Moreover, The Box offers a wide selection of packaging supplies including boxes, bubble rolls and tapes. XCELLENCE PLUS
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Xcellence Plus is in the business of amplifying people agility and make it the foundation for client success. They revolutionize Human Resources and Corporate Training solutions and thus augment people agility that is crucial to an organization. Xcellence Plus is a human resource consultancy and corporate training firm, with a wide experience of providing organization development & learning solutions. They provide these services through a combination of innovative ideas and practical solutions, which are presented in a clear and unambiguous manner. EXCLUSIVE LINKS
Exclusive Links Real Estate Brokers is one of the UAE’s leading brokerage firms, offering a complete property experience. They work in pursuit of service excellence and are committed in every area of the real estate industry. Offering a premium, professional and flexible service to customers, Exclusive Links Real Estate provides an extensive list of properties for sale and lease and this is complimented by a full property management list of services. The Directors of Exclusive Links Real Estate, Louise Heatley and Zarah Evans are seasoned professionals with a combined 19 years’ experience in real estate in Dubai. DESCO
DESCO Copy & Print Center is a trusted brand since last three decades. DESCO has the largest print network in UAE with 34 branches, some operating 24/7. It also has a fully-fledged offset division equipped with ‘state of the art’ facilities. DESCO aims to bring printing near you with fast, efficient and economical printing solutions. To know more about DESCO log on to www.descoonline.com or call 800DESCO.
ABDULLA AL SUWAIDI ADVOCATES
From the smallest requests to the largest disputes, Abdulla Al Suwaidi Advocates caters to all your legal needs. They provide you with multiple solutions to each of your conflicts. As an established legal firm in Dubai, their team of lawyers has been operating in the legal sector in the UAE for over 10 years and in the Middle East for over 20 years. With years of resolving clients’ issues in the region, they make the UAE law work in your favour. Abdulla Al Suwaidi Advocates aims for optimal customer satisfaction and to be the legal consultancy of choice. EMIRATES CHARTERED ACCOUNTANTS
Emirates Chartered Accountants, United Auditing and its associate professional firms – Emirates Chartered Accountants Group, are ISO 9001-2008 certified International Chartered Accountants firms head quartered at Dubai, the emerging business capital of the world. They are a member of IEC-Net, an International Network of Auditors, Accountants and Tax professionals, with partners in more than fifty countries providing real time financial services to the global business community. Emirates Chartered Accountants Group is marked by excellence in client service, quality and accountability. BANKE
Established in 2013 by real estate professionals Niraj Masand and Porush Jhunjhunwala, Banke International is a real estate brand with a fresh approach to property sales. Banke International
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Intelligent SME
SME World Summit 2016 Celeberating Entrepreneurship is a point of differentiation in the market, with friendly and knowledgeable real estate specialists that deliver expert advice along with exceptional customer service. A fullservice boutique real estate brokerage with an ambitious outlook, Banke International’s attention to detail ensures an insightful approach to the real estate sector. FINESSE
Finesse, a ‘Red Herring Global Top 100 System Integration company’ & ‘Winner of Integrator ICT Champion Software Solutions Integrator – 2014’ provides technology solutions and services to Banking, Education, Energy, Healthcare, Hospitality and Retail segments. Finesse solution offerings are primarily focused on: • Business Intelligence & Analytics • Enterprise Content & Business Process Management • Governance, Risk & Compliance areas Finesse believes in unified communications and is determined to deliver business information and tangible value through: • Cloud-Ready Solutions • Mobile Devices • Social Media Platforms Finesse brings together advanced technology, robust infrastructure, a large pool of talent and a proven global delivery model to provide a wide range of IT services to its clients costeffectively and seamlessly. Just Wills
Just Wills Al Wassiya JLT is the first company to provide professional will writing services duly registered and licensed as a DMCC Free Zone company. Their expertise and
experience in the field differentiate them and they are recognized as a pioneer in drafting expatriate wills in the UAE. Just Wills Al Wassiya JLT is also part of Just Wills PLC, the largest Estate Planning Organization in the UK. Just Wills Al Wassiya JLT has better understanding of the home laws of most countries, thus offering superior and sophisticated professional will writing services. SHURAA
Shuraa is located in Dubai, the prime location for business establishment in the UAE. As the leading business setup service provider in UAE, they offer a wide range of services and complete business set-up packages - right from establishment all the way through to post business set-up activities. Their services include business licensing and registration, sourcing office space, PRO services, visas for employees and opening of corporate bank accounts. EPICOR
Epicor Software Corporation is a global leader delivering inspired business software solutions to the manufacturing, distribution, retail and services industries. With over 40 years of experience serving small, midmarket and larger enterprises, Epicor has more than 20,000 customers in over 150 countries. Epicor enterprise resource planning (ERP), retail management software, supply chain management (SCM), and human capital management (HCM) enable companies to drive increased efficiency and improve profitability. With a history of innovation, industry expertise and passion for excellence, Epicor provides the single point of accountability that local, regional and global businesses demand. For more information, visit www.epicor.com Vital Corporate Solutions
One of the most important considerations while setting up a new company is the cost of set up. What attracts many entrepreneurs to setting up a business administratively based in Dubai and/or Offshore is its tax free environment. However, the cost of forming a company can fluctuate greatly depending on jurisdiction and client requirements. Vital Corporate Solutions prides itself on finding the right solution to suit each individual need. Embarking on a new business venture in the UAE should be exciting, not exasperating. Let us take care of legal and administrative milestones so that you can focus on turning your passion into profit. Think SS
Think SS is an IT consulting company that supports enterprises and organizations of all sizes with products, solutions and services. The company continues to differentiate itself by offering customers the highest degree of availability, scalability, manageability and security in the Information Technology business. Think SS designs and implements individual customized solutions that help optimise business processes by development and deployment of our software. Think SS uses a systematic approach which increases the flow of opportunities and identifies the specific actions which will close the deal and deliver ongoing success. Think SS always identify risks to winning new business that come in many forms. Its big picture approach facilitates uncovering of strengths and helps identify risks. VAVCI
VAVCI, an exclusive design studio for men, was established by the Mehras in 1999 in Amritsar. With a dedicated
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Intelligent SME
SME World Summit 2016 Celeberating Entrepreneurship team of experienced cutters and skilled dressmakers under the guidance of design consultant Vishal Mehra, they have raised the levels of precision and excellence in bespoke tailoring. Today they cater not only to the 'creme de la creme' of Punjab but also visitors from all over India and abroad. Well tested fabrics, matchless craftsmanship, timely deliveries and warm and personalised service have made VAVCI a leader in men’s fashion.
investors globally, thereby providing their clients with a smooth and cost effective operating environment in the UAE in compliance with all legal procedures.
Pioneer Consulting
The European Executive Agency for SMEs implements the Research and Innovation programme "Horizon 2020SME Instrument" with about € 3 billion in funding over the period 2014-2020. This is an EU funding scheme aiming to create an "Innovation Hub" of top highly competitive SMEs in Europe. The SME Instrument helps highpotential SMEs to develop groundbreaking innovative ideas for products, services or processes that are ready to face global market competition. The SME Instrument invests up to € 5 million into each selected small and medium-sized company. These SMEs are granted after a strong competition with around 10,000 companies each year. Less than 10% of the applicants pass the selection. On top of funding, the selected SMEs receive tailormade business coaching, networking opportunities with investors and partners and access to fair trades. Crystal Arc LLC
Pioneer Consultancy is led by young and dynamic professionals whose vision and passion is to provide bespoke all round one stop cost effective business solutions provider for our valuable clients globally. Their dedicated and talented teams, mantra is “Your Success is Our Passion” and keeping that in mind, they work as your partner in your success by providing the appropriate advice on a timely manner, making sure you get the best solution for your business requirements. With their dynamic network of professional alliances with Auditors, Accountants, Lawyers, Realtors, IT Consultants & other professionals from various disciplines and comprehensive skill base to cover all aspects required by businesses or
56 www.intelligentsme.com
Charlotte's web
European Executive Agency
KGRN
KGRN Accounting Associates is an emerging medium sized accountancy firm, with its head office in Dubai, UAE. It was founded in 2003 by G Rama Naidu, employs experienced and qualified Chartered Accountants and has a notable presence in Chennai as well as Dubai. In a challenging and competitive business environment, organizations deserve an accounting firm to guide them through the complexities of financial reporting while supporting them in every aspect of their business.
Anniversaries, Special Occasions.
Charlotte's web provides affordable online solutions to start ups and existing businesses. We are business owners and we’ve struggled between spending a small fortune on website development and using a freelancer, which can be long-winded and frustrating. We’ve pulled our hair out trying to get a western-serviced website with elegant lines which can be content managed by ourselves posthandover. Charlotte’s web fixes these issues. Al Fardan Exchange
Al Fardan Exchange is one of the oldest and leading names in the UAE remittance market and a pioneer in the industry of UAE money exchange business. Privileged to be a part of the reputable Al Fardan Group, Al Fardan Exchange is into the remittance market since more than 40 years. Al Fardan Group is also managing many other businesses like Real Estate, High Class Jewellery, Financial Services and Trading under its one umbrella presided by Mr. Hassan Al Fardan, Chairman, Al Fardan Group. Great Sands Consulting (GSC)
Crystal Arc LLC is one of the leading pioneers and manufacturers of Crystal ware. They have an ISO Certified factory, procuring the finest raw material from Europe and with 180 craftsmen and in-house designers give life and shape to crystal by hand crafting and customizing as per requirement. Their products range from Tableware, Glassware, Vases, Islamic Creations, Miniatures of Landmark Buildings, Laser Engraving, Crystal Gifts, Trophies & Plaques to Customized projects for Special Events like Birthdays, Weddings,
Great Sands Consulting (GSC) is a fast growing, top class consulting company. Our deep understanding of the three corporate pillars – finance, business strategy and technology, coupled with the team’s extensive consulting experience across all industries gives us a huge competitive edge as we provide holistic solutions that transforms companies and help them achieve measurable business results.
P.O. Box 61450, Dubai, United Arab Emirates Tel: +971 4 881 8288, Fax: +971 4 881 9157 Email: AFL.relocations@alfuttaim.ae
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FEBRUARY - MARCH'16
Intelligent SME
Rare & Fabulous
Stunning Diamond-Glazed limited edition iPhone 6s by Givori Adorned with More Than 1000 Glittering Diamonds, Limited Edition Design Part of New ‘Calypso’ Range.
LUXURY smartphone customizer Givori has launched its new ‘Calypso’ range, which includes a stunning diamond-glazed limited edition design of the newly released iPhone 6s. The breathtaking ‘Calypso Diamond’ features the coveted smartphone draped in 1091 diamonds, totaling to 10 carats. The precious stones are set in a pure white gold frame, with black platinum embellishing the commanding front face of the device. The ‘Calypso Diamond’ is an aesthetic marvel that will mesmerize its owners with its alluring glamour. Priced at AED 109,999, only 50 units of the ‘Calypso Diamond’ are available for purchase. Inspired by the mystical creatures of the sea, each design of Givori’s Calypso range features 117 individually carved Malachite, Mother of Pearl, or Onyx pieces in a fish scale pattern which are carefully inlaid into a gold grid along the back of the device. In the Calypso Diamond edition, this pattern is exquisitely complemented with highgrade diamonds. The Malachite edition is set in a solid yellow gold frame, while the Mother of Pearl edition in a rose gold frame. Priced at AED 22,999, the devices also feature a brush stroke finish that further accentuates the smartphone’s elegance. “At Givori, we always strive to bedazzle our customers with creative innovations that redefine smartphone luxury,” said Layal Akouri, General Manager, Givori. “We believe the new Calypso range, including the Calypso Diamond, will enamour owners with its prolific magnificence, one that will make a commanding presence in any room.” The Calypso range is available at Harvey Nichols - Dubai, Bloomingdales – Dubai, select Damas jewellery boutiques, and axiom showrooms. All Givori devices are coated with a nanotechnology film, applied to combat oxidation, fingerprints and colour fading. Givori customizations also come with extensive postsales support, including one year warranty on all software, cosmetic and jewellery elements. All repairs include a free pick-up and delivery service.
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FEBRUARY - MARCH'16
Intelligent SME
Rare & Fabulous
Concord Saratoga Lady Diamond Petal combines luxury and femininity The sparkling diamonds catching the light, the prettiest posy of all appearing as a timepiece - the Concord Saratoga Lady.
HORSE racing has always been associated with the aristocracy and nobility and racing aficionados are united in their love for the finer aspects of life - an appreciation for thoroughbred horses, the thrill of race day competition and an appreciation for elegance. Picture the scene of the sun shining down on a well-heeled crowd, assembled at the famed Saratoga race course, long associated with thoroughbred racing. Stylishly turned-out gentlemen mingle while swapping race tips and exchanges whilst the ladies, elegantly dressed with their colourful floral headpieces, stand out amongst the crowds. The eye is drawn to the sparkling wrist of one such beautiful guest as she fixes her haute-couture hat, the sparkling diamonds catching the light, the prettiest posy of all appearing as a timepiece - the Concord Saratoga Lady. The ultimate in femininity, this brilliant timepiece is reimagined this year with a shimmering white mother-of-pearl dial detailed with a flower petal design set with 31 VS quality diamonds. The 31mm stainless steel case is adorned with an additional 32 VS quality diamonds and the case-back is finely embossed with the collection’s signature emblem of two racing horses - a true reflection of Saratoga’s uniquely prestigious pedigree. The Calibre quartz ETA 8 ¾ 956.412 movement is equipped with hour, minute and second functions. Protected by a sapphire crystal with anti-reflective treatment and finished with a delicate stainless steel bracelet, this exceptional timepiece is water resistant to 30 meters.
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FEBRUARY - MARCH'16
Intelligent SME
Rare & Fabulous
Natuzzi Editions combines Italian flair for design with high quality leather World-class style and comfort in a variety of colours and configurations. NATUZZI Editions presents its latest collection showcasing its incomparable Italian expertise and flair for design with high quality leather that has made it the world leader and one of the most highly sought after furniture brands in leather and upholstered products. Natuzzi Editions features meticulous Italian designs offering styles for every taste in a variety of colours and a wide range of sofa functions and configurations, embodying world-class comfort and love for living. Whether contemporary or traditional, stationary or in motion modern, Natuzzi Editions have the perfect solution for any space. Matched by its flexibility, Natuzzi Editions sectional sofas, ranging from corner groups with motion, sofa-bed, and chaise lounge and bumper versions, are available in an endless variety of designs allowing you to freely choose the best solution for your home. Mikdad Bhabhrawala, CEO of Western Furniture said: “We are proud to introduce Natuzzi Editions luxurious new collection showcasing an array of the finest and top-of-the-line furniture and home decor pieces designed to suit the lifestyle of UAE’s families today.” Experience excellence and quality as every model is handmade by expert craftsmen and features hardwood frames engineered for lasting quality. Natuzzi’s production team conducts quality testing to meet and ensure international standards including superb handin-glove tailoring and durable stitching. The furniture also boasts high-quality non-allergenic leather and durable fabrics and comes with exceptional warranties of 10 years on frames and 2 years on padding, upholstery and mechanism.
62 www.intelligentsme.com
FEBRUARY - MARCH'16
Intelligent SME
Rare & Fabulous
porsche to invest 700 million euros and create 1,000 jobs with mission E With the Mission E project, Porsche will invest around 700 million euros in StuttgartZuffenhausen, creating more than 1,000 new jobs.
THE first 100 per cent electrically powered Porsche is on its way with the Mission E project. Dr. Oliver Blume, Chairman of the Porsche Executive Board, referred to it as "beginning a new chapter in the history of the sports car." With the Mission E project, Porsche will invest around 700 million euros in StuttgartZuffenhausen, creating more than 1,000 new jobs. Over the next few years, a new paint shop and a new assembly plant will be built. The existing engine factory requires expansion for the production of electric motors, whilst the existing body shop will be enlarged. In addition, further investments for Mission E are planned in the Development Centre located in Weissach. The Mission E concept car premiered at the Frankfurt International Motor Show in September. Living up to the buzzword of 'E-Performance,' the technological trailblazer combines outstanding driving performance with trendsetting day-to-day practicality. The four-door model with four individual seats has a system power output of more than 600 hp (440 kW). The vehicle will thus achieve acceleration from zero to 100 km/h in
under 3.5 seconds and an electric driving range of more than 500 kilometres. Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG, said: "With Mission E, we are making a clear statement about the future of the brand. Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car."
63 www.intelligentsme.com
FEBRUARY - MARCH'16
Intelligent SME
Rare & Fabulous
Lootah presents customizable collector’s Bukhoor Set The all-time best-seller includes 6 incense (bukhoor), Fragrant Oud (Oud Muattar) and various incense accessories for the lovers of traditional & modern Oud essence. LOOTAH Perfumes, a luxury Oud and incense atelier, offers its one-of-a-kind Bukhoor gift set which can now be completely customizable for gifting. You can choose a six-bukhoor set from a variety of incense available with three distinct options of creating a mesmeric blend of your best fragrances along with bespoke leather exterior and velvet interior colour options. The Bukhoor gift set is curated with leather, the colour of which can be changed to match the liking of receiver, along with a variety of options for the lavish interior velvet inlay. Decadent Oud Powder blended with black Amber and the purest Agarwood brewed into unique French & Oriental fragrances encapsulates the light, autumnal air that draws the wearer into an enchanting spell of oriental, sensual mists. To release the fresh, divine fragrances of the bukhoor and special oud muattar, simply heat the agarwood capsules with the provided burner, coals and tongs to let rich, delightful aromas elude into the air.
64 www.intelligentsme.com
Emirates Chartered Accountants Group, is ISO 9001 – 2008, a certified International firm of Chartered Accountants headquartered at Dubai, U. A. E. We are a member of IEC- Net, an International network of Auditors, Accountants and Tax professionals with its head quarters in Paris. Emirates Chartered Accountants Group is known for its excellence in client service, quality, professional integrity, accountability, innovation and best practices.
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Audit & Assurance Business & Financial Advisory Accounting & Financial Reporting Cost Analysis & Cost Control Consultancy in Corporate Finance Market Research & Business Plan Valuation & Business Restructuring Accounting Software Solutions Company Incorporation Services Group Entitles: Emirates Chartered Accountants IEC Emirates Chartered Accountants Co. United Audiing Emirates Accounts Services UK
Suite No.503, 804, Wasl Business Central, P.O. Box: 122957, Dubai, UAE, Tel: +971 4 2500290, Fax: +971 4 2500291 accounts@emiratesca.com, www.emiratesca.com
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