Young UAE national entrepreneurs honoured for successfully completing programme

The Entrepreneurship and Business Plan Development Programme was sponsored by the National Bank of Dubai (NBD) and jointly designed and delivered by Dubai University College (DUC) in collaboration with the Mohammed bin Rashid Establishment for Young Business Leaders (SME).

An integral part of the highly intensive programme was the final project, which required each participant to make a presentation of his/her business plan, which in turn will be used to seek loans from the SME for their new venture.

The evening's presentation of the three top business plans by their young entrepreneur creators was warmly welcomed by the other participants and the sponsors. Business plans by Mr. Hamad Rashid Al Mutawa, Mr. Farhan Bahman, and Mr. Zuhair bin Redha were adjudged as the best business plans submitted.

The ceremony was addressed by senior representatives from Mohammed bin Rashid Establishment, Dubai University College and National Bank of Dubai.

Speakers highlighted the strenuous efforts of the Government of Dubai under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister for Defence, and SME, DUC and NBD, to create a cadre of young UAE national entrepreneurs, who, with their youthful energy, curiosity and enthusiasm, would create new and innovative successful business models that would add a new dimension to the business life in Dubai and the UAE.

Maryam Bahlooq, Manager of National Human Resources Recruitment, National Bank of Dubai said, "The strategy of NBD always focuses on supporting various programmes and policies that enable young nationals to take part in the growth of the Untied Arab Emirates."

She added, "There is no doubt that such programmes provide young nationals with the opportunity to succeed in the business world. Their strong will coupled with our support will contribute to the overall economic growth of the country."

Commenting on the content of the programme, Dr. Omar Hefni, President, DUC, said "The Programme covered topics such as the challenges of entrepreneurship, developing the business plan, strategic planning, forms of ownership, marketing, pricing, cash flows, financial planning, putting the plan to work, and looking at ethical and legal concerns and regulatory environment."

He added: "The format of delivery of the classes was far removed from the traditional lecture sessions and instead focused mainly on a hands-on approach with extensive use of practical examples, activities and case studies that would enable the entrepreneur to apply all the knowledge and skills learnt and to develop his/her own business plan, after integrating all aspects of marketing and finance related to the business he wants to start."

Rafia Al Jasmi, Training Executive of the Franchise & Development Division at SME, said: "Supporting this program is in line with the efforts of the Establishment to support the young entrepreneurs in all possible ways to enable them to establish their businesses successfully."

She added: "These programs are important because the entrepreneurs are aware of the importance of marketing and financial management in establishing successful business ventures. The training program will develop the skills of the young entrepreneurs on how to manage their business and how to prepare the financial and marketing plans."

The final presentation of the certificates was held at the Dubai Chamber of Commerce and Industry.