Ruwad Establishment, in cooperation with the National Human Resources Development and Employment Authority (Tanmia) and the Saud bin Saqr Programme for Young Business Leaders, ran a training course (Diploma in Small and Medium Enterprise (SME) Investment) in Ras Al Khaimah from 21 September to 5 October 2010 for 50 trainees from all over the UAE.
Speaking on the occasion, H.E. Ahmed Mohammed Al Midfaa, Chairman of Ruwad, said, “This programme is part of our ongoing efforts to encourage young leaders to run their own businesses. This is the third programme of its kind that we have organised, following two similar courses we ran recently in Sharjah and Khorfakkan for 50 trainees. Ruwad will fund a number of attendees whose enterprises prove to have a high potential for success based on feasibility studies”.
“The course aims to help graduates establish and run their small enterprises by enabling them to select the type of enterprise that fits their abilities, experience and skills. The attendees learn how to evaluate an enterprise, get the necessary licence, conduct a feasibility study and develop the enterprise,” he added.
According to Al Midfaa, course attendees also learn the phases of establishing an SME, right from the pre-feasibility study phase. Four key phases are incorporated, the first of which covers skills such as how to find an opportunity that meets consumer trends and demands, how to launch a feasible product, introducing an innovative product or service, and promoting the use of untapped technical skills and abilities.
The second phase is the evaluation of the enterprise and involves finding a suitable host market. The third phase involves organising ideas, setting up a schedule of milestones and evaluating strengths and weaknesses, while the fourth phase involves studying opportunities and risks before making a final decision.
Attendees hailed the important role Ruwad plays in improving their knowledge and developing their individual and collective skills. They underlined the importance of Ruwad’s efforts in establishing future enterprises based on solid foundations.
These training courses are organised in line with the directives of the Arab Human Resources Centre. The Centre’s experts have developed a programme on ‘Establishing SMEs’ for graduates of Arabic educational colleges and institutes, which aims to encourage young Arab graduates to run their own businesses.
