Dr. Ayoub Kazim, Dubai Knowledge Village and Dubai International Academic City Executive Director, said: "Small businesses are the fastest growing segment in the world, and create a major proportion of all new jobs. However, over 50 per cent of all small businesses fail to break even within the first two years.
"Often entrepreneurs are aware of theoretical commercial concepts, but lack the expertise to operate a business, and cannot afford the time and expense of education. Equally important are start-up costs and fixed operating expenses that drain hard pressed capital. This is where the SBI plays a crucial role in assisting start up ventures in conducting business more effectively,"
Established with a mission to provide new and existing businesses with the training and tools to become successful, the SBI provides expert advice and counselling on the financial, marketing, sales, IT, and human resources (HR) aspects of any business. It also helps its members chart future growth strategies for their respective business entities.
Hasan Makansi, Partner Development Manager, Dubai Knowledge Village, said: "It takes the right mix of tools, networking and know-how for small businesses to succeed in today's competitive environment. The SBI was set up to support small enterprises seeking affordable and competent mentoring services.
"With the expertise available within DKV, the SBI workshops provide small businesses in the UAE with exposure to industry best practices that broadens their knowledge and enhances their performance levels. In providing these entities with tailored services, consultancies based in DKV demonstrate their commitment to drive the country's overall economic growth."
The SBI workshop was part of Dubai Knowledge Village's objective to facilitate knowledge sharing and the exchange of ideas.