Thursday , August 16 2018

Small businesses in UAE post triple digit growth

UAE SMEs post triple digit growth rate copy

Dubai / Emirates Business

Small businesses in the UAE seem to be defying economic odds, as 104 of the best performing SMEs in the country reported an average growth rate of slightly over 150% in 2016.
These high-octane growth businesses were recently shortlisted as finalists of the 2017 Gulf Capital SME Awards; a programme launched 5 years ago by MEED, that celebrates the success, growth and innovation of SMEs as well as entrepreneurs and business leaders in the UAE.
This year, there are 57 more finalists compared with 2016, when 47 were shortlisted in various categories. “This means more and more SMEs are reporting growth and are getting on the radar for their business accomplishments and growth. The current crop of finalists has a combined turnover of AED2.1bn, higher than the AED1.9bn total of the previous batch of finalists,” said Dr Karim El Solh, co-founder and CEO of Gulf Capital, one of the largest alternative asset management firms in the Middle East and the headline sponsor of the awards. “What these figures show us is the continued resilience of the SME sector in the UAE, and offers confidence that this inspiring performance of small businesses will have a ripple effect on the economy of the Emirates as a whole.”
With 12 finalists, there are five more SMEs competing this year for the award programme’s highest honour – the Gulf Capital Business of the Year. These include Arabian Child, Bin Touq Fire and Safety, Emitech Technical Services, Hira Industries, Linkviva, Phanes Group, Q Communications, Raw Coffee Company, RSA Logistics, SamTech Middle East, The Blossom Nursery/Blossom Early Learning Centre and The Box Self Storage Services.
Women business leaders are continuing to make their mark in the SME landscape in the UAE with four competing for the Business Leader of the Year award, against six men who qualified for the category. The finalists are Aziz Abbas (A.F. Husain), Arif Akhtar (Emirates Pearl General Trading), Nadeer Ali (Himatrix Middle East), Fadi Jean Baaklini (MEPCO Gulf Co), Manoj Shroff (Niti Group), Paula Bellamy (Ocean Wide Logistics), Abhishek Ajay Shah (RSA Logistics), Zaida Van Der Byl (Senses Salon), Nathalie Haddad (The Right Bite Nutrition and Catering Services) and Zahra Hamirani (The Blossom Nursery/Blossom Early Learning Centre).
The competition is equally tough in the Entrepreneur of the Year category, in partnership with Ccerebrate Business Consulting, with familiar names such as Dhirendra Gupta (4C Mortgages Consultancy), Shane Curran (Interact Group), Amiri Gandhi (Kidz
Factory), Sanuj Kohli (LEME Group), Anilesh Kumar (Levtech Consulting), Furqan Athar (McArthur+Company), Rahul Sajnani (Moshi-Momo & Sushi), Nicolas Standaert (nearbuy), Stuart Curtis (Synergy Group) and Stevi Lowmass (The Camel Soap Factory) aiming to win one of this year’s highest individual honours.
Innovation continues to be one of the biggest buzz words in this part of the world. Some of the SMEs competing for the Business Innovation of the Year award include Health Gate, nearbuy, Orion Systems, PROTRAINING, Savant Data System, Shawarma Time, TagStone Technologies and Taqado Restaurants.
‘‘With the government’s unrelenting drive to encourage entrepreneurship among its citizens, the Emirati Business of the Year category received a higher number of entrants this year. A total of nine finalists are competing for the award, up from five in 2016,’’ commented Becky Crayman, Programme Director, Awards and Managed Events, MEED. The shortlist includes 3Dimension Engineering Services, Ayjaal Media, Bait Al Kandora Gents Tailoring, Bin Touq Transport, Forceis Integrated Security Systems, Jalila Chocolates, Khalid Alghaith General Trading, Mashal Al Zarooni Chartered Accountants and MASSAED Installation of Elevators and Escalators.
First-time entrepreneurs who have taken the bold step to owning a business will be recognised through the Start-up Business of the Year award, with the following businesses qualifying as finalists: Caramel and Sun, Deborah Henning, Fruitful Day, Hale Education Group, SMART Shelter, insydo, Liquorice Productions, New Shifts, Nomadic Capital Limited, Richmond Works, Seez and Smart Navigation Systems.
A total of eight SMEs, such as Bait Al Kandora Gents Tailoring, ISS Middle East, LivingBrands (Lemongrass Thai Restaurant/ Asian5 Restaurant), Momentum Dubai, Mosaic Live Communications, Rapid Cool Trading, Time House Company Trading and Time Lapse Middle East, have been shortlisted for the Small Business of the Year category.
The Online Business of the Year award has three finalists – Holidayme, Beehive Group, and compareit4me.com; while the RSA Customer Focus of the Year category has eight, including Brave, Carlease Rent A Car, E Walls Studio, Innovative HR Solutions, Kazema Portable Toilets, PROTRAINING, The Box Self Storage Services and Urbanbuz.
SMEs with outstanding initiatives that help improve performance and inspire employees will be honoured with the People and Culture of the Year award. The shortlisted companies for this category are Bodysmart, GPK Businessmen Services, Innovative HR Solutions, Linkviva, MASSAED Installation of Elevators and Escalators, Matrix Public Relations, Savant Data System, SPF Realty, The Blossom Nursery/Blossom Early Learning Center, TIME Hotels, Unique Group and younoh Media.
Sustainable practices are critical to an SME’s long-term success and the company that has the most initiatives in this business aspect will take home the Sustainable Business of the Year trophy.

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