Entrepreneurs in the UAE should be adaptable in the face of changing business conditions. That was one of the insights shared by successful business owners at a forum for members of the British Business Group in Dubai and the Northern Emirates (BBG) and the Young Arab Leaders’ UAE chapter (YAL - UAE) at the Mina A'Salam on 28 January 2010.
Suzie Croft, Managing Partner of catering company Appetite, urged business start-ups to spread their risk. “Aim for a diverse business module that is flexible to change if required,” Ms. Croft said. “Don’t put all your eggs into one basket. Of course, you need to be prepared to work hard and put in long hours to make your vision a reality.” Appetite was winner of the Lloyds TSB Small Business of the Year Award 2008.
Business insights were also shared by Nadia Zaal, Co-Founder and CEO of the Abu Dhabi-based real estate developer Zaya, and Rabea Ataya, CEO of the recruitment website Bayt.com. “The UAE has come a long way in fostering growth sentiment among its SMEs which are and will remain the backbone of the country. It is essential that policies always acknowledge the evident differences between them and large corporates and to that end SME’s now have a choice of funding options such as the prestigious Khalifa Fund for Enterprise Development. My advice to budding entrepreneurs would be to research all funding avenues available to them and take full advantage where possible”, said Nadia Zaal, Co-Founder and CEO of Zaya.
Sultan Al-Qassemi, Chairman of YAL - UAE and Guy Warrington, British Consul General in Dubai, were among those who attended the forum.
BBG Vice Chairman Jonathon Davidson, who chaired the event, said, “It was fantastic to get representatives from the BBG and YAL together. The feedback has been extremely positive and this event will pave the way for much more cooperation between the two groups”
Last year the BBG and YAL - UAE signed a Memorandum of Understanding to partner in developing promising leadership talent in the Arab world. The alliance facilitates a sharing of knowledge, contacts and advice to benefit the UAE’s current and future business leaders.
Lubna Qassim, BBG Director UAE Alliances, said, "Entrepreneurs play a key role in economic growth. The UAE needs its smartest and most passionate people to try their hand at starting a business and to develop new products and services.”
The lunchtime forum was held under the auspices of the BBG’s Entrepreneurs Focus Group.
