ABAN wins prestigious SMB Advisor Awards 2008 category for supporting region's SMEs

Walid Hanna, CEO of ABAN, received the Editor's Choice award in the 'Dependable Partner: Business Support Services' category, presented to him at a gala awards ceremony on 19 November at the Fairmont Hotel in Dubai.

ABAN was selected as the winner based on its ability to meet and exceed the selection criteria of: "Are you a shoulder to lean on for SMBs, a friend in need and a pillar of support? Banks, consultants, support partners, investors, system integrators and the likes: How well have you helped businesses grow?".

In addition to receiving the award, Hanna participated in the SMB Advisor Forum, held on the same day as the awards ceremony, as a subject-matter expert.

The forum included a series of educational panel discussions aimed at addressing current challenges faced by businesses.

ABAN shared its insights on a number of topics including free zone commercial activity, the importance of legal and commercial due diligence, insurance, and global business opportunities.

Walid Hanna, CEO of ABAN, said:

"We are delighted to receive one of the most coveted awards given in recognition of our role as a key support partner for SMEs in the Middle East. This award further motivates us to strengthen our determination to nurture the development and growth of SMBs across the region."

Hanna added: "Being part of Dubai International Capital's corporate social responsibility program, our mission is to fill the equity gap faced by entrepreneurs in the region. Today's entrepreneurs are tomorrow's business leaders, and represent a large employment pool for our youth in the future."

Recently, Hanna addressed the delegates of the Private Equity World MENA 2008 conference, a 4-day conference with panel discussions that included topics on MENA venture capital and angel investing.

The Arab Business Angels Network is scheduled to host its next matchmaking event on the 14th of December at Dubai International Financial Centre (DIFC) to introduce a fresh set of entrepreneurs to regional investors.

The event will be preceded by an Entrepreneurs Training Workshop to help educate entrepreneurs on how pitch to investors and how to structure their company to become investment-ready.

Angel investors are essentially individuals who provide seed capital to young, promising businesses.

Unlike banks and other lending institutions, Angel investors take on a more intimate relationship with the enterprises they invest in, offering everything from consulting services and commercial support to exposure with suppliers, clients, and customers.

In essence, an Angel investor is both an investor and partner, and rides the high periods and absorbs the downturns alongside the SMEs they invest in.

The Arab Business Angels Network (ABAN) provides the link between entrepreneurs and angel investors, while acting as a vehicle to promote entrepreneurship and build a community of 'Angel Investors' across the Arab world.

Based in Dubai, ABAN aims to expand its network and help establish other networks particularly in Saudi Arabia, Jordan, Egypt and Lebanon, to complement the economic development objectives of the Arab world by facilitating creative and productive entrepreneurial ventures.