The move is in line with its support of business continuity and commitments towards fostering entrepreneurship in the Emirate following the global novel coronavirus (COVID-19) outbreak.
Dubai Startup Hub, an entrepreneurship initiative of Dubai Chamber of Commerce and Industry, has taken its events online to support new members, as well as continue delivery of all its programs and activities digitally.
The move is in line with its support of business continuity and commitments towards fostering entrepreneurship in the Emirate following the global novel coronavirus (COVID-19) outbreak.
The digital initiatives are also geared towards helping startups sustain and grow amid challenging market conditions as a result of the ongoing pandemic.
Dubai Startup Hub will also launch an additional service to support startups with online mentorship during these extraordinary circumstances. The mentorship will include specialized entrepreneurship guidance and support with reviewing business models, improving and rehearsing investor pitches, and navigating the current business environment.
Natalia Sycheva, Manager of Entrepreneurship, at Dubai Chamber of Commerce and Industry, said in a statement that the smart transformation of services has become an urgent necessity for all institutions who serve innovators and entrepreneurs today.
“Organizing a digital networking platform and delivering educational and acceleration programs online is an important step that allows us to continue serving entrepreneurs at all times and enhances Dubai’s position as a global destination for entrepreneurship,” she said.
Sycheva added that entrepreneurs have been keen to use modern technology in exploring new business ideas and finding solutions to address current business challenges.
“The live interaction of participants with the moderators and among each other encourages them to explore new features and formats of this kind of webinars, which save time and effort, and facilitate a positive competitive environment,” Sycheva noted..
Dubai Startup Hub, launched by Dubai Chamber in 2016, embodies the value of public-private partnership to encourage innovation and entrepreneurship, and is a valuable resource for entrepreneurs in Dubai.
Being a part of the Dubai Startup Hub provides a multi-program platform for entrepreneurs from around the world to explore business opportunities in Dubai, while benefiting from a variety of programs and services.
source: entrepreneur
(English)
ولدت يوم 11 مايو 1995 في سويسرا الناطقة بالفرنسية، أمضت نعومي شينك طفولتها في قرية صغيرة على حدود بحيرة جنيف. على الرغم من أنها تعاني من مرض وراثي، إلا أن كرسيها المتحرك لا يمنعها من اكتشاف العالم من حولها. إنها شغوفة بالتقنيات الحديثة والموضة والفن.
روحها الإبداعية وارادتها هي الركائز الأساسية التي تميزها. تمكنت من خلال روح المبادرة التي تتمتع بها بالإضافة إلى دراساتها ومهاراتها من تنفيذ العديد من المشاريع الطموحة بما في ذلك "انا نعومي""I Am Naomé" ، وهي وكالة تسويق متخصصة في الكماليات، وقامت بإنشاء "نغولد غشتاد" "NGOLD Gstaad"، وهي علامة تجارية لنمط الحياة، باي نعومي " BY NAOME"، وهي ماركة أزياء راقية للأغراض الخيرية.
"كانت الكماليات دائمًا شغفًا بالنسبة لي منذ نعومة اظفاري. لطالما كنت مفتونة بالبيوت المرموقة التي تعطينا تجارب ساحرة. هذا يجعلني أحلم مرة أخرى الآن، وأنا أود أن أستمر في هذا الحلم. "
منصة رواد الأعمال العرب السويسريين: هل يمكنك أن تحدثينا عن تاريخك الشخصي والمهني؟ هل يمكنك أن تصف لنا الأنشطة اليومية الرئيسية، كيف تديرين مشروعك، ماذا تقرأين من كتب ومواقع إلكترونية ومدونات؟ النوادي التي تنتمين اليها وانشطة المؤتمرات التي تحضرينها؟
نعومي: بالطبع! أنا نعومي، رائدة أعمال، أبلغ من العمر 24 عامًا وأركز على قطاع الرفاهية. بالتوازي مع أنشطتي المهنية أقوم بإنهاء درجة الماجستير في تسويق الكماليات في جنيف، وأنا منخرطة كثيرًا في القضايا البيئية من خلال جمعيتي الخاصة ومن خلال ماركة باي نعومي "By Naomé".
أنا متحمسة حقًا لما أقوم به، لدي الكثير من الأفكار والرغبات والطموحات. حلمي هو أن يكون لي تأثير إيجابي حقيقي، بينما أعيش الحياة التي احلم بها. أنا مهووسة أيضًا بأن أصبح شخصًا أفضل كل يوم. أقضي الكثير من وقتي في قراءة الكتب الشخصية وتنمية الأعمال، وغالبا ما أستلهم من رواد الأعمال العظماء الذين نجحوا في المجال الذي اريد.
ألهمتني دائمًا قصص نجاح الأشخاص الطموحين الذين أحدثوا تأثيرًا اجتماعيًا إيجابيًا. أنا مؤمنة بشكل كبير بشبكات العلاقات، وكان لتطوير شبكتي الشخصية تأثير كبير على مساعدتي للوصول إلى ما أنا عليه اليوم.
أستثمر الكثير في المؤتمرات والدورات ومجموعات التدريب والتدريب عبر الإنترنت. تتيح لي هذه المنتجات والأحداث الوصول إلى مجتمعات قيمة من رواد الأعمال. أخيرًا، أداة التواصل الرئيسية التي استخدمها هي انستغرام، حيث أنشط جدًا على حسابي الخاص "@iamnaome".
منصة رواد الأعمال العرب السويسريين: ما هو مشروعك (مشاريعك)؟ هل يمكنك ان تعطينا وصفا؟ لديك أيضًا مؤسسة: هل يمكنك إخبارنا عنها؟ هل نجحت في إنشاء منتجات جديدة، هل يمكنك إخبارنا المزيد؟
نعومي: أنا شغوف بالعلامات التجارية الفاخرة والأزياء والتسويق. عندما أنظر إلى مساعي التي قمت بها بموضوعية، فإن جميع أنشطتي المهنية والأكاديمية هي أيضًا شغفي. لهذا السبب تمكنت من تحقيق الكثير، لأنني متحمسة جدًا لما أقوم به. لم أحسب أبدًا ساعات العمل أو عائد الاستثمار، فأنا أقوم بكل شيء بدافع الرغبة الملحة في القيام بذلك.
فيما يتعلق بـ "نغولد غشتاد" "NGOLD Gstaad" أحدث علامة تجارية لي، إنه لأمر رائع لأن لدي ارتباطًا شديدًا بالكريستال منذ طفولتي. أنا أؤمن حقًا بفوائد هذه الأحجار. عندما كنت طفلة (وحتى يومنا هذا!) لطالما كان لدي حجر الجمشت على مائدتي. بالنسبة لأولئك الذين لا يعرفون الجمشت، هو حجر كريم بنفسجي للمساعدة في نوم هاديء. أنا لدي زجاجة المياه الخاصة بي اخذها معي إلى كل مكان (منعا للنفايات البلاستيكية) حيث تمكني من الحصول على فوائد الطاقة من الحجر وتشكل جزءًا من حياتي اليومية.
فيما يتعلق بـنعومي، إنه ببساطة حلم طفولتي إنشاء علامة تجارية من صنع سويسري 100٪ أفخر بها، تلبي المعايير الأخلاقية والبيئية، والتي تعطي 100٪ من أرباحها للجمعيات الخيرية. نحن نتعاون مع فنانين معاصرين ونعمل على تصميم المنتجات الجديدة. هذا مشروع أنا فخور به للغاية. أطلقنا مجموعتنا الأولى في منتصف عام 2019، وعقدنا بعد ذلك حفلًا خيريًا في نوفمبر.
مؤسستي معترف بها كهيئة عامة، مما يعني أن لدينا قضية تعترف بها الدولة على أنها معفاة من الضرائب (بمعنى أن التبرعات معفاة أيضًا من الضرائب). هذا اعتراف هام، ولكن لم يكن من السهل الوصول إليه. يتطلب الحصول على هذه الصفة الكثير من الأوراق، وقائمة طويلة من المواعيد. كما يقولون، إن العمل الإداري هو الذي يستغرق معظم الوقت!
منصة رواد الأعمال العرب السويسريين: ما هو نموذج الاعمال الخاص بك؟
نعومي: سواءا كانت أعمالي أو مشاريعي الشخصية، فإنني أستثمر طاقتي إلى أقصى حد، شخصيًا وماليًا، وأبذل قصارى جهدي لأصل الى اهدافي. بعد ذلك، بمجرد أن يبدأ نموذج الأعمال في العمل، أقوم بمراجعته؛ تقييم ما سار بشكل جيد، والأهم من ذلك تقييم ما يمكنني تعلمه من مكامن الضعف. ثم أحاول البحث عن طرق لتبسيط وأتمتة الأعمال أو المشروع قدر الإمكان، أنا مهتمة بشكل متزايد بالعملة المشفرة والعقارات، والخطوة المنطقية التالية بالنسبة لي الآن هي البدء في الاستثمار بشكل ذكي!
منصة رواد الأعمال العرب السويسريين: متى بدأت مشروعك؟
نعومي: غادرت المنزل في سن السادسة عشرة لأبدأ في مدرسة للفنون والتواصل. في هذه المرحلة بدأت في تنفيذ مشاريعي الأولى. كان لدي مدونة حيث كتبت عن نمط الحياة الفاخر، والذي أدى إلى العديد من التجارب في الصحافة التجارية، وقضيت أيضًا الكثير من الوقت في أنشطة مجتمعية. ثم قررت أن أتخصص أكثر في السلع الكمالية. لقد حصلت على العديد من الخبرات أيضًا. أنا فضولية للغاية - الكثير من الشركات تثير اهتمامي! مع ظهور الإنترنت أصبحنا محظوظين للغاية، ولدينا العديد من الفرص التي لم تعد سوى قاب قوسين من خلال بحث على محرك البحث غوغل. لقد ازال عالم الإنترنت الحواجز الاجتماعية والاقتصادية تمامًا التي تتيح لأي شخص الفرصة للخروج من وضعه الاجتماعي والاقتصادي الحالي.
منصة رواد الأعمال العرب السويسريين: كيف وجدت فكرة مشروعك؟
نعومي: لقد اقترنت مشاعري باتجاهات النمو الحالية.
منصة رواد الأعمال العرب السويسريين: ما هي الدول التي تنشطين فيها؟
نعومي: أنا أعمل في سويسرا، وغالبية زبائني موجودين داخل سويسرا. لدي أيضًا أعمال تجارية في باريس ولندن وموناكو. فيما يتعلق بشركة "نغولد غشتاد"NGOLD Gstaad ، نتطلع إلى العالمية!
منصة رواد الأعمال العرب السويسريين: كيف مولت مشروعك في المرحلة الأولى؟ كيف تتعاملين مع المنافسة؟
نعومي: لقد مولت جميع المشاريع بنفسي! لقد تلقيت في بعض الأحيان دعم الشركاء والرعاة، كما كان الحال بخصوص "باي نعومي" "By Naomé"، على سبيل المثال. ابتداءا من عام 2020 فصاعدًا، سأسعى بشكل متزايد للحصول على مصادر تمويل خارجية لأنني أحيانًا أضع نفسي في مواقف صعبة في بداية المشروع.
المنافسة ليست سوى مسألة تسويق وتحديد مكانتنا السوقية، وهو أمر جيد، لأنه يسمح لنا بإثبات لم نحن أفضل.
منصة رواد الأعمال العرب السويسريين: في أي مرحلة أنت الآن في مشاريعك؟
نعومي: أنا حاليًا في مرحلة أود فيها تبسيط وأتمتة مشاريعي. لقد حققنا بعض النجاح المبكر، وحان الوقت الآن لنحيط أنفسنا ببعض الخبراء. نحن في فترة مثيرة للاهتمام استراتيجيًا، وتجاوزت الصعوبات الخاصة بمرحلة البدء في المشروع.
منصة رواد الأعمال العرب السويسريين: ما هي أهدافك المستقبلية؟
نعومي: التوسع في مشروعاتي لتحقيق تأثير إيجابي أكبر. أرغب في تنمية أعمالي إلى أكبر حجم ممكن، ولا أخشى الحديث عن طموحاتي هذه صراحة.
منصة رواد الأعمال العرب السويسريين: ما هي العقبات الرئيسية التي واجهتها / التي تواجهينها؟ هل يمكنك إخبارنا عن أروع لحظة في حياتك المهنية؟ فهمت أنك حصلت على عرض من رجل أعمال غني جدًا، هل يمكنك إخبارنا عن هذا العرض؟
نعومي: كانت الصعوبة الكبرى التي واجهتها هي أولاً وقبل كل شيء، مرضي. لكوني على كرسي متحرك ولدي صعوبات كبيرة في التنفس، كان علي أن أتعلم كيفية التكيف مع مرضي من أجل النجاح مع الحفاظ على صحتي. ولكن بغض النظر عن الصعوبات التي أواجهها، لدينا جميعًا أعذار محتملة لعدم المضي قدمًا، أليس كذلك؟ علينا فقط القيام بذلك! أنا متأكدة من أن شغفي وتصميمي على النجاح سيساعداني بالفعل على تحسين صحتي عندما يكون كل شيء على ما يرام! الأمر كله يتعلق بحالتك الذهنية. في بعض الأحيان يمكن أن تتعرض لضغط شديد، ولكنه لا يزال يتلخص غالبًا في مسألة عقلية. أكثر الامور صعوبة هي المثابرة في اللحظات الاكثر سوءا.
كان أروع شيء في تجربتي هذه هو لحظات الصعود والهبوط العاطفي. يمكنك الانتقال من حالة اليأس إلى الفرح الهائل في دقائق معدودة. بينما لدي الكثير من الضغط والمسؤولية على عاتقي، إلا أنني أحب التحدي المتمثل في الاستمرار في تحقيق هذا الحلم المثير والمضي قدما.
نعم، أن وجود عدد متزايد من الأصدقاء الاثرياء علامة جيدة لاعمالي، أليس كذلك؟ عندما أبدأ في مقابلة المزيد والمزيد من الناس المذهلين، كل شيء يسير في مكانه ويزدهر. بدأت أخيراً أرى جهودي تؤتي ثمارها. أعلم أن المستقبل سيكون أكثر اشراقا، لأنني أعلم أن كل ما يتطلبه الأمر هو العثور على جهة اتصال واحدة، أو فرصة واحدة، وفجأة يمكن أن تتغير حياتك بشكل كامل و إلى الأبد! أنا شخصياً أضع قيمة كبيرة في شبكة العلاقات، وأنا متأكدة من الاستمرار في تنميتها!
منصة رواد الأعمال العرب السويسريين: ما هي الخطوة التالية؟
نعومي: الهدف الأول هو النمو والحصول على تأثير إيجابي أكبر وبدء الاستثمار. يعد تطوير العلامة التجارية "نغولد غشتاد" "NGOLD Gstaad" على الصعيد الدولي، وخاصة في دبي. من بين الخطوات التالية، ستطلق مجموعة باي نعومي " By Naomé " مجموعتها الثانية للالبسة في شهر سبتمبر وسأخصص شخصيًا المزيد من الوقت للتعلم عن الاستثمار. لدي الكثير من الأفكار والمشاريع، وما زلت أشعر أنني في بداية رحلتي!
The World Bank Group announced two new initiatives to improve access to start-up financing and e-commerce markets for women entrepreneurs, at the Women Entrepreneurs Finance Initiative (We-Fi) Middle East and North Africa (MENA) Summit.
“Starting and growing a business is one of the most powerful tools for women to overcome poverty and build better lives for themselves, their families, and their communities,” said David Malpass, World Bank Group President. “Removing regulatory barriers along with obstacles to access to finance and markets can give women-led businesses the opportunity to succeed.”
We-Fi, housed at the World Bank, has so far allocated close to US$250 million to tackle challenges women entrepreneurs face in developing countries. The allocations aim to reach 114,000 women entrepreneurs. We-Fi is a powerful catalyst for additional investment, helping mobilize more than US$2.6 billion in additional public and private sector funds.
At the We-Fi MENA Regional Summit, held during the Global Women’s Forum Dubai 2020, the International Finance Corporation (IFC) and We-Fi launched the ScaleX program to incentivize accelerators to support start-up businesses led by women. IFC research shows that women entrepreneurs in emerging markets face a daunting gender finance gap with only 11% of enterprises that actually attain seed funding being female-led. New research shows that despite women leading half the start-ups that participate in accelerators—entities designed to train and support the development of start-ups to become investment ready—they continue to face greatly unequal access to capital.
The program will incentivize emerging markets accelerators to work with women-led businesses by providing performance-based payments of US$25,000 for every woman entrepreneur that raises US$1 million from investors in start-up funding.
"We are launching the ScaleX program to help women entrepreneurs in emerging markets to access funding at a crucial stage to grow their businesses,” said Sérgio Pimenta, IFC Regional Vice President for the Middle East and Africa. “This is a win-win for accelerators, investors, and women entrepreneurs.”
The World Bank and UPS also announced today a new partnership to help women entrepreneurs in the Middle East and North Africa region to grow their businesses by assisting them in successfully leveraging e-commerce platforms.
“By making e-commerce platforms more accessible, this partnership addresses a key constraint faced by women business leaders in reaching new markets,” said Ferid Belhaj, World Bank MENA Vice President. “E-commerce platforms create opportunities, and we must ensure these opportunities are open to women-owned businesses across the region.”
UPS will provide e-learning modules on different e-commerce topics to help women-owned and women-led small and medium enterprises seeking to expand their businesses across borders.
The project will support an estimated 750 women entrepreneurs and will train a cadre of e-commerce advisors in each country who can provide tailored assistance and coaching to businesses. The partnership will work with entrepreneurs in Algeria, Djibouti, Egypt, Jordan, Lebanon, Morocco, and Tunisia.
We-Fi has made allocations to programs being implemented by the African Development Bank, the Asian Development Bank, the European Bank of Reconstruction and Development, the Inter-American Development Bank.
the Islamic Development Bank, and the World Bank Group. The World Bank and IFC We-Fi programs (US$75 million in allocations) are working with private and public partners in 24 countries via 27 investment and advisory projects to enable women entrepreneurs to access finance and markets and amplify those efforts with global research, partnerships, and policy advocacy.
The Women Entrepreneurs Finance Initiative (We-Fi) is a groundbreaking partnership that aims to unlock financing for women-led businesses in developing countries.
We-Fi’s partners include 14 donor governments, six multilateral development banks as implementing partners, and numerous other stakeholders in the public and private sector around the world.
We-Fi takes an ecosystem approach to removing barriers to women’s economic empowerment, addressing constraints and opportunities related to finance, market access, capacity and the enabling environment.
source: worldbank
For more than a decade, business in Dubai is flourishing and expanding by leaps and bounds. Dubai has rapidly achieved its position as the global city that is the first choice of entrepreneurs for launching their dream business.
But more than a few people -especially of the Western hemisphere can not help but wonder about the fate of women in the country.
As the UAE is a country that predominately is of Arabic ethnicity and thus is Muslim. That makes them believe that Arab women are not allowed to work or do any forms of business because Islam prohibits it.
Well, the preconceived notions of the world are not all TRUE!
What they do not know is Islam was the first religion that gave rights to the Muslim women, not only that it also empowered women to do as they please. A woman in the UAE is free to do any business that she wishes to do so long as it is within legal bounds.
That is the only restriction. Otherwise, women entrepreneurs are more than welcome to turn their business idea into a reality and turn it into a profitable business venture.
In fact, women are key to the economic future of the UAE.
As a woman who is setting up a business in Dubai, the business specialists recommend that you should not invest in a business that requires significant capital investment or a lot of heavy-lifting to make it a success. Instead, you should spend your precious time and money on small but profitable business ideas so that you can divide your attention equally between your family and work.
Best Small but Profitable Business Ideas For Women Entrepreneurs in 2020:
If you are a woman entrepreneur, wanting to start a business in Dubai, then here are ten business ideas just for you:
Boutique:
Even though there are multiple boutiques in Dubai to the point that the market is saturated. Still, there is always a need and demand for pretty, unique and trendy clothes at an affordable price.
Furthermore, as Dubai is the commercial capital of the world, consumers are increasing day by day. Hence, if you have a passion for fashion, you will quickly be able to find a niche for yourself in a short time. And start making a profit.
With a sound understanding of the latest fashion trends and a reliable supply, you can easily start a business in Dubai.
The boutique business can also be done online all you need for that is an E-commerce license and you are all set.
Alteration and Fitting:
An alteration and fitting business is a simple but profitable business idea. That can be operated from your home. All you need is a sewing machine, and the skill to work it. This business is fit for women entrepreneurs or “mompreneurs” as they are lovingly dubbed.
With the smallest capital investment, the alteration business setup can be initiated. You can do this business on the side so that your focus and attention can remain on your children, and still, you will be able to turn in a handsome profit.
Renting Out Costumes and Formal Clothes:
Costume rentals and Formal clothes are two separate business ideas but are of similar nature that’s why they are paired here.
Renting out costumes is a well-received business in Dubai. As various schools, nurseries, kindergartens, theatre and ballet companies require costumes for their performances and it is cheaper for them to rent the outfits for an evening instead of buying them.
Similarly, Formal wear rentals are in-vogue right now as people prefer to rent the evening wear rather than buying them as it saves them a lot of money.
This business idea can also be started at home i.e a working example of a home based business in Dubai with minimum investment. By providing steady and trustworthy service, you can establish yourself as your local school or your neighbour’s go-to supplier.
Interior Decor Store:
A good eye for art can be easily converted into a lucrative business opportunity. If you possess this quality, then you can start your own interior business in Dubai. To set yourself apart from your competitors, you can try to add in a little bit of a twist, i.e. infuse local art, culture and crafts into your natural flair for design and decoration.
As a woman in business, this is a fantastic opportunity as people will take your advice earnestly as most believe that women are the absolute authority when it comes to interior decorating! You can use this for your advantage.
Event Planning Agency:
If you enjoy planning family get-together or just like planning, then you may be looking at your next profitable business idea, i.e. an Event planning and management agency. Running the agency requires excellent organizational, managerial and planning skills that are imperative if you are seriously considering to start this business in Dubai.
As with every business, it is fundamental that you deliver a reliable ,on-time and dependable service to maintain the customers you have gained.
You should acquire a event management license to make your business legal.
Graduating from university in events management or a related major is a bonus, but it is not required.
Open A Wedding Consultancy:
Similar to an event management business, if you have exceptional planning skills and can handle the immense pressure of working on a tight schedule, then you can open a wedding consultancy.
Over the past decade, the need for wedding consultants has sky-rocketed.
Nowadays, people are too busy with juggling their personal and professional life that they have zero time to stress about the necessary details that come with wedding planning.
And with the dawn of social media, creating a perfect wedding filled with whimsy and fantasy has escalated. All of these reasons have created a need for professional wedding consultants. Women entrepreneurs can consider opting for this business idea to capitalize.
Open a Pet Store:
Another low-cost, high-reward business idea is opening a pet store. This pet store can sell food for dogs, cats , birds and fish. Also, it can have cute little accessories and knick-knacks as an added attraction.
Homemade Cookie Baking E-Service:
This e-service eliminates the need for renting a space exclusively for business purposes; this is especially marvellous for mom-entrepreneurs who are juggling child-rearing with their professional lives and are trying to support their families.
Designer Throw Pillows:
All you need to start this business is an eye for detail and a knack for creating unique designs. You can produce throw pillows by employing various distinctive ways, that will give each of your creations an exclusive look and will appeal to a particular niche of customers who are willing to pay an excessive amount to get their hands on them.
Customizable T-Shirts:
Recently, customizable T-shirts business has turned into a lucrative business opportunity, so as a woman entrepreneur, you should consider this business as your debut in Dubai business sphere.
All you need to start this business is: A digital printing machine and some plain t-shirts.
If you are a women entrepreneur who has a dynamic business idea, then Dubai is the place for you to launch your business.
In case of any queries hire business setup Consultants, they will guide you effectively.
source: kwsme
The Arab world region, rich in natural resources; with enormous oil and natural gas reserves (32 percent of the world's known natural gas reserves are in the region) and phosphate (Morocco alone has more than half of the world's reserves). It is still lagging in terms of international trade.
The Arab world has also huge human resources, with a very young population. Suffering from unemployment and socio-economic problems, they are the main factor of change of this region, once was the beacon of a flourishing civilization. (read also Emerging Arab world and business opportunities in spite of the political turmoil)
Despite the distorted image reflected by the media, this region is witnessing a new reality imposed by enthusiastic and thirsty young people for the entrepreneurship. These people, constitute the pillar of a new generation of entrepreneurs who have succeeded in carrying out remarkable projects as described by an American entrepreneur, Christopher Schroeder in his book «Startup rising, the entrepreneurial revolution remarking the Middle East ».
Digital economy
While the Arab world is the scene of a popular uprising, the world economy is undergoing major changes towards digitalization and the fourth industrial revolution. Companies that are mainly based on internet and software, such as Google, Facebook, Twitter, Airbnb, Uber, Amazon, Alibaba…etc, have enabled unprecedented connectivity and access to information, thus opening up new horizons for economic models that did not exist before.
The Swiss economic model
On the other side, north of the Mediterranean Sea, behind the Alps, a small country in the heart of Europe, sits on the throne of global economic competitiveness. Switzerland, an industrial country, with export based economy and occupies a privileged place for world trade, thus serving as a trade hub.
RoAW: Rest of Arab World, GCC: Gulf Cooperation Council.
Bilateral trade relations
Trade between Switzerland and the Arab world increased in volume (exports + imports) from nearly 10 billion in 2010 to more than 23 billion in 2017 (most of it are exports) (figure 2) and this despite of the political on-going turmoil.
In view of these developments, partners of all kinds from both sides are looking to cross the walls in order to build bridges and increase their sales. However, the geographic, linguistic, cultural, regulatory and information asymmetry constitute obstacles to achieving the maximum potential of exchanges between the two parties.
Swiss Arab Entrepreneurs Platform
The Swiss Arab Entrepreneurs platform (SAE) was born from the experience of its founder, Ayman Abualkhair, having spent several years in the service of Arab-Swiss economic relations. Its mission is to reflect the tremendous investment opportunities in the Arab world, diffuse reliable information, promote business opportunities on both sides, and facilitate commercial links at the lowest cost, thanks to digital and innovative entrepreneurship models. Swiss Arab Entrepreneurs is the driving force for connecting entrepreneurs and businesses, in order to enable efficient exchange via an online platform.
Financial technology (fintech), for all of its faults, helps us get more things done more efficiently. Artificial Intelligence (AI) takes it even further, allowing us to conduct business and have conversations when there isn’t even another human involved.
We can have online chats with bots, for example, to accomplish or learn myriad things. Innovation is always on the horizon, though, especially in the fintech realm.
As more fintech options become commonplace, every industry must either adapt or be phased out.
With the turn of the new year, 2020 promises big changes in how we manage, spend and access our money, so you'll want to keep an eye on some of these emerging trends as you make financial decisions regarding partnerships and investments.
Minimizing Traditional Institutions
Several types of financial business elements that have been handled manually or by standard institutions, like payroll, insurance and securities, are becoming automated.
We’re seeing online-only banking that eliminates the cost of brick-and-mortar buildings, and the best of them will be sharing the benefits with their customers in the form of higher returns and lower fees.
Companies adapting quickly to fintech and automation should also work to uphold compliance and maintain good standing with the governing agencies.
As regulation and risk-management for fraud, money-laundering and identity theft are becoming big business, regulation technology (regtech) companies are utilizing AI to combat these crimes faster and more efficiently than humans can.
The growth of fintech is causing a wave of startups and the opportunity for investment in the regtech realm.
Stepping Up Online Trading
Black box trading is a proprietary, fully automated option for your investments that has been talked up and down for its attributes.
It’s legal since it’s not expressly illegal, and relies on algorithmic and low-latency technologies. Computers and data-mining are not infallible, though, so you might want to consider a more personal approach.
Copy trading is basically crowd-sourcing applied to your portfolio. You can choose your favorite investors to follow and mirror their investment moves based on whatever percentage you want to allocate. Not only can it open you up to investments you might not know about, but you’ll also be able to interact with and gain insight from other members and influencers in real-time.
Monitoring Cryptocurrency Advancements and Conversions
In the digital world, financial assets can be used and exchanged with cryptocurrency, which isn’t tied to standard currency systems.
Its online, open-source administration doesn’t require banks or governments for regulation or exchanges, allowing anyone to participate in the system from anywhere in the world.
However, since there is so little regulation, the cryptocurrency market is extremely volatile. Several companies are trying to be competitive with Bitcoin as the space continues to evolve.
Smart contracts represent one such innovation by allowing people to enter into business contracts online with the terms managed by the system automatically as the parties verify that they’ve held up their end of the deal.
This could be revolutionary for the real estate market.
While blockchain transactions normally take place on public ledgers, many people don’t want their financial transactions to be public knowledge for a multitude of valid (or shady) reasons.
There are companies out there offering a type of cryptography that makes transactions anonymous and untraceable without damaging the blockchains.
This can create interesting options for investors and further regtech developments as well.
Although converting your cryptocurrency to real-world currency is possible with Bitcoin ATMs in many major cities, it’s not easily accessible.
There are a few online-conversion services and crypto debit cards. These methods often have fees, taxes and delays that hinder access to your money, which means it’s a wide-open avenue for innovation and new technology to emerge.
Considering Mergers and Collaborations
Finally, as you watch for opportunities to invest or invent, I predict you’ll continue to find that banks are trying to create partnerships with fintech and regtech companies as a means to stay relevant. Don’t be surprised if these are unsuccessful at saving the traditional institutions, because most of them are still trying to operate under the same old standards. They need new strategies for marketing and product offerings, not just new accounts on their books. As you move into 2020, keep that in mind for your own business decisions as well.
source:entrepreneur
It can be hard to navigate the world of finance, much less the highly competitive startup ecosystem.
No matter what age you are, everyone should think about retirement planning, mutual funds, life insurance, savings and tax planning, all of which can be even more difficult if you’re already working to grow a new business (or keep an older one alive) at the same time.
What’s most important is that you plan to make your money work for you and establish financial goals, even if you’re running a company.
Here are five of the best tips financial advisors offer that entrepreneurs can apply to their journey.
1. Develop financial goals.
How much do you want to have in savings? Do you want your money to grow, save for a vacation or buy a home one day? It may not be possible all at while you lead your company, but it is all possible over the long term if you work with your best interests in mind.
If you’re not sure what you’re looking for with your finances or how to ensure a strong financial future, you may want to speak with a certified financial planner. They can help you develop goals and work towards achieving them systematically over the course of several months or years.
It may simply be a matter of putting money away each month. A financial advisor can help you build the strategy to make that happen.
2. Set a budget.
A budget is the core of any financial plan, and for good reason. Without it, you're like a ship without a rudder.
First, take stock of your expenses, including housing costs, weekly food spending, utilities and entertainment, among others. This will be your starting point. From there, look for opportunities to make cuts.
This will likely come in the form of extraneous spending on entertainment, but don’t fear -- you can still see friends and family, go out to dinner and see movies if you want.
You may just have to curb spending overall. Look into a budgeting system that works for you, whether that’s working in a spreadsheet or a financial planning app like Mint, PocketGuard, You Need a Budget or Wally.
One example is to follow the 50/30/20 approach, which allocates 50 percent of your funds to needs, 30 percent to wants and 20 percent to savings.
Your financial decisions are up to you, and setting a budget will help you define those goals and stick to them.
3. Explore investment opportunities.
Consider when you’d like to buy a home or when you’d like to have paid off your mortgage.
Maybe you’ve been thinking about taking more risks with investment, or perhaps it’s the time in your life when you need to be more conservative with investments.
No matter where you are on that spectrum, don’t shy away from exploring investment opportunities.
Look into vehicles like CDs, bonds, stocks and IRAs.
Each has its own benefits and drawbacks depending on where you are in life and the state of your finances.
In general, if you’re younger, it’s a good time to take risks.
If a stock drops off or that investment in Bitcoin (or some other crypto) goes south, you’ll have time to recover.
When you’re approaching retirement, on the other hand, it’s better to play it safe and make sure you don’t take a huge hit right before you move to living on a fixed income.
4. Plan for retirement.
Speaking of retirement, it’s never too early or too late to look forward to a time when you won’t be working.
Your early stage venture may be an all-consuming passion right now, but that doesn’t mean you can’t lay the groundwork for a more quiet future.
In fact, I've met many young entrepreneurs working hard to save enough money so they can retire in the 20s, 30s or 40s.
Develop a savings plan specifically for retirement in an account where your money will grow without you touching it. Decide that money is off limits and stick to that rule.
Start a 401(k) match plan at your company and take advantage of that perk yourself. This can be a huge boost to your retirement-savings account. It also acts as a way for you to stay motivated as you see your money grow.
5. Keep learning.
Financial planning can be daunting, especially if you’re already managing a business. There are so many terms, acronyms, legal implications and steps to take.
From life-insurance policies to money-market accounts, IRAs, stocks and bonds, there’s a lot to learn about. Check out different apps that can make investing and budgeting more enjoyable.
Surround yourself with the right people, like an accountant or financial advisor, who can help you make sense of your current and future finances. Stay abreast of ongoing economic developments, not just in the space your company operates, but in the economy as a whole.
You can do this through audio books, reading online or taking classes.
Try not to get overwhelmed, and take it one step at a time.
Rather than looking at financial planning as a challenge, see it as an opportunity to keep learning.
The state of your personal finances may not be your highest priority, but don’t underestimate the importance of your individual financial future and the potential to keep learning and growing.
source: entrepreneur
There's a misconception that keeps those with dreams of owning their own business from following their dreams.
It's a misconception that's not only false but dangerous to the small business community.
It's not true that every entrepreneur sits in a rundown apartment somewhere in Silicon Valley, eats boxes of cheap mac-and-cheese and stays up all night building the next big startup.
Most entrepreneurs aren't living in poverty hoping to someday sign the papers for millions of dollars in funding only to see their dreams become the next worldwide craze.
The real landscape of entrepreneurship is much different and more mainstream than the model seen in the movies. According a Kauffman Foundation study, entrepreneurs are more likely to be between the ages of 45-54 and of minority descent. They may be starting businesses as second careers, but even those entrepreneurs don't fit the stereotype.
Another misconception is the notion that businesses have to start with a "bang," which translates to lots of time, quitting your day job, sacrificing family time and taking a big personal and financial risk on a dream that may not succeed and could burden you with large amounts of debt.
In fact, many business owners start their businesses as side ventures. They don't quit their day jobs, but instead use the skills they've learned to start that side business.
They aren't expecting these businesses to pay the bills, but they don't limit themselves on growth either. Starting small keeps the startup costs low. If it does fail, they have lost very little. How do you start a side business? Here are a few tips.
Make It Scaleable
So you love to cook? You could start a restaurant that will take a full-time commitment and a lot of money – or you could start a weekend catering business or a mobile food truck.
A business where you provide small services on your own schedule can grow as much or as little as your time allows. Look for those opportunities while you're starting out.
Limit the Formal Marketing
You want to gain business, but investing in large marketing efforts could have two negative effects: You could waste a lot of money on a campaign that produced very little business or it could produce so much business that you don't have the time to handle all of the orders.
Instead, focus on word-of-mouth advertising and let the business grow debt free.
Compartmentalize
If you're going to keep your day job, try not to mix the two businesses.
The job that pays the bills and offers health insurance and a retirement package deserves the bulk of your time and energy, even if you've lost some of the passion for that position.
After work, when you get back home, concentrate on your side business.
Don't Expect It to Be Easy
Before starting your side business, consider your expectations. If it's going to be a part-time effort, expecting to rival your full-time competitors in the first few years is unrealistic.
You don't have to be the biggest to find fulfillment. Expecting to do something you enjoy while making a little extra money is a healthy and appropriate goal.
The Bottom Line
If you dream of starting a business, don't fall for the misconception that you have to quit your job and put all of your time and money into your idea.
Instead, start small and see where the business takes you. Launching a business for the enjoyment of doing what you love is just as noble as being a Silicon Valley entrepreneur starting a dotcom.
source: investopedia
The UAE offers international business opportunities across numerous sectors– from tourism to technology
Over the last 40 years, the UAE has successfully diversified its economy to reduce its reliance on the energy industry. As a result, the nation now offers international business opportunities across numerous sectors– from tourism to technology.
The government continues with its positive efforts in this area, including an increasing number of incentives designed to attract professionals and independent business people from all over the world and support smaller enterprises.
These include:
- Allowing 100% foreign-owned businesses
- Offering extended visas for entrepreneurs
- Attracting tech businesses to the UAE
- Providing funding and support for smaller businesses
- Creating a favorable environment for living and working
So, let’s look in detail at these five ways the UAE government encourages entrepreneurs to open a company here.
Allowing 100% foreign-owned businesses
In May 2019, the UAE government announced it would soon be possible for foreign entrepreneurs to be 100% shareholders in a locally incorporated business. Total foreign ownership was previously only permitted in the UAE’s free zones, meaning businesses incorporated ‘onshore’ had to be 51% locally owned.
This change will now give anyone looking to start a business, or already operating businesses in other countries, the opportunity to get easier access to the UAE. As a result, the playing field for international entrepreneurs looks even more attractive, particularly when paired alongside other developments.
Offering extended visas for entrepreneurs
In November 2018, the UAE government began actively issuing five-year visas to entrepreneurs looking to set up in the country.
Eligible candidates for the five-year entrepreneur visa must have a business with a minimum capital of AED 500,000 or the approval of an accredited business incubator in the country (such as Hub 71 – more on that below).
In May 2019 the UAE brought in a new system for five- and ten-year residency visas, enabling outstanding non-UAE investors and specialists to live, work and study here without a national sponsor. The visa can be renewed if the holder’s circumstances remain positive. These five- and ten-year visas require investments of AED 5 million and AED 10 million respectively. There are currently 125 business areas that UAE-based expats can operate in without the requirement of a local sponsor.
With the introduction of the Gold Card visa in May 2019, the next best thing to permanent residency is now available to the top tier of investors, entrepreneurs, chief executives, scientists, and outstanding students. The visa is reviewed every ten years, and, unlike other visa holders, Gold Card residents can live outside the country for a period of more than six consecutive months.
These developments are seen as a way of making it even more attractive for the international business community to work in the UAE. For those looking to get started in the UAE, whether you’re already living and working here or coming from abroad, having a long-term visa offers both stability and opportunity.
Attracting tech businesses to the UAE
In many parts of the world, the terms ‘entrepreneur’ and ‘startup’ are synonymous with technology. While not traditionally a tech hub in the same way as San Francisco, the UAE is making some strategic moves to change this.
The UAE government announced the creation of a new technology space, Hub 71, earlier this year. Based in Abu Dhabi, Hub 71 is a joint partnership with Microsoft. The fact the government has also earmarked AED500 million in investment funds as part of the overall initiative is further evidence of the UAE’s commitment to attracting international tech talent.
Coupled with its ambitious Government Accelerators’ program which includes Ghadan 21, a three-year development plan worth AED50 billon, all of these efforts make it pretty clear that the UAE government wants to create an even more thriving tech scene here.
Providing funding and support for smaller businesses
Given the leaps and bounds being made in providing help and support to entrepreneurs and startups, it’s no surprise that the UAE ranks highly for online access to administrative and government services. To make things easier for businesses, it was recently announced that 5% of government capital projects will be allocated to small and medium enterprises (SMEs). This comes as part of a drive to encourage them to enter into major projects contracts with government agencies and form alliances to compete for government projects.
Currently aimed at Dubai-based SMEs, this move will allow them to receive contracts for projects worth up to AED400 million. Also, in order to provide SMEs with greater liquidity, those working on UAE government projects will now be paid within 30 days, according to recent news. Previously, public sector project payments were paid within a 90 day period. In addition, in the run-up to next year’s Expo 2020, the Dubai government has earmarked 20% of all related contracts to SMEs.
Creating a favorable environment for living and working
Weather aside, there are so many reasons why the UAE is an attractive place for entrepreneurs to live and work. In many cases, it’s due to the tireless efforts of the government here to make it so.
According to an expat study, the UAE ranks 25th in the world for quality of life. It also takes the number nine spot for safety and security– making it an attractive location for entrepreneurs with families. It helps that visas for spouses and offspring are also easy to obtain once the main sponsor is accepted.
From a commercial perspective, the UAE is ranked 11th in the world for overall ease of doing business. Plus, there’s no personal tax, corporation tax, or any requirement to submit returns for the vast majority of businesses. This certainly reduces the operational burden of running a company here.
The UAE has a strong tradition of encouraging talented individuals to come here to live and work. However, looking at these recent developments, it’s increasingly evident that the government is now keen to attract independent entrepreneurs from a range of disciplines.
As a result, those with the drive and tenacity to grow a business from scratch here in the UAE are poised to benefit considerably. Entrepreneurs who are able to tap into these government-led initiatives, programs, and resources will have many options available to them. The growing support network provided by these new initiatives, and the communities they foster, will no doubt strengthen the overall startup ecosystem in the UAE and continue to attract entrepreneurs here for years to come.
Source:Entrepreneurntrepreneur
Trying to do an investment check on digital transformation projects? 5 expert tips
5 digital transformation ROI best practices
In order to set up a holistic view of digital transformation performance, IT leaders can take a number of actions:
Set initial metrics in advance
In many cases, these metrics will be hypothetical, and that’s okay. “The value of an investment will only be proven by the business outcome; there is no other measure,” says Prashant Kelker, partner with technology research and advisory firm ISG. “The challenge is that business outcomes cannot be predicted; they have to be guessed as a digital transformation progresses. This means a fundamental pivot from a large transformation mentality to an approach focused on continuous business outcomes.”
Develop micro-metrics for agile experiments
“Enterprises should not focus on the big change, but instead the step-by-step process,” Kelker says. “This forces companies to change from one large plan and one large target architecture to having to manage dozens of microplans. This protects investments because you are constantly either getting immediate business value or killing things that don’t work.”
However, these discrete efforts “should be evaluated across integrated processes from an investment perspective to ensure ROI,” says Andrew Alpert, managing director with Pace Harmon.
Incorporate business outcomes
“A look at the total value will include impact in three areas,” says Edwards. IT leaders should incorporate strategic impact (e.g., revenue growth, lifetime customer value, time to market), operational impact (e.g., productivity improvements, scale, operational efficiencies), and cost impact.
Look beyond cost savings
“While the business cases for technology projects have most recently been heavily focused on cost savings, organizations that make strategic and operational impact their objective consistently achieve higher returns across all dimensions,” says Edwards. Be sure to include those in the digital transformation metrics.
Don’t forget to include the digital transformation of IT itself. “Digital transformation initiatives should help identify new possible requirements for technology vendor relationships based on new available capabilities, such as agile collaboration with providers driving faster delivery times,” says Caplan.
Use metrics to review and adjust regularly
“On a periodic basis, perhaps quarterly, a check should be made to determine whether there are signs that [projects are] having the type of impact anticipated or [are] contributing in an unintended manner,” Edwards advises. When a project is falling short, IT can make changes. “If business requirements have changed, sufficient learning has been gleaned from the project, or it is determined the project will not deliver results, the project may be terminated.”
Source: enterprisersproject
