PART THREE: PROSPECTIVE SECTORS FOR INVESTMENT

in the UAE

Entrepreneurship and SMEs in the UAE Ch 13

One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.

What is an Entrepreneur?

The World of the Entrepreneur• Entrepreneurs and Entrepreneurship

• Significant variation in the levels of entrepreneurial activity across the globe.

• Many factors determine the levels

- Access to funding

- Culture

- Tax and Regulation

- Education and Training

- Coordinated and Support

Ch. 1: The Foundations of Entrepreneurship

Ch. 1: The Foundations of Entrepreneurship

Adapted from Global Entrepreneurship Monitor, 2008 Report, U.S.A

global-entrepreneurship-value-by-country

The World of the Entrepreneur

• Every year U.S. entrepreneurs launch 550,000 new businesses.

• Entrepreneurial spirit - the most significant economic development in recent history.

• GEM study: 18.7% of adult population in the U.S. is actively involved in trying to start a new business.

• Make up 99.7% of the 30.14 million businesses in the U.S.

• Employ 51% of the nation’s private sector workforce.

• Create more jobs than big businesses.– 60% to 80% of net new jobs over the last decade

• Are leaders in offering training and advancement opportunities to workers.

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Small Businesses ...

• Produce 51% of the nation’s private GDP.• Account for 47% of business sales.• Create 13 times more patents per employees

than large companies.– Zipper, light bulb, FM radio, laser,

air conditioning, escalator, personal computer, automatic transmission, and many more!

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Small Businesses ...(continued)

FIGURE 1.5 Small Business by Industry

Source: U.S. Small Business Administration, 2007.

Entrepreneurship and SMEs in the UAE

UAE government supports young business people to establish successful ventures.

1. Khalifa Fund for Enterprises Development

2. Mohammed bin Rashid Establishment for Young Business Leaders.

3. Sheikh Saud bin Saqr al Qasimi's Fund for SMEs

Entrepreneurship and SMEs in the UAE

Khalifa Fund for Enterprises DevelopmentKhalifa Fund was launched on 3 June 2007 to help develop local enterprises in Abu Dhabi, with a total capital investment of AED 2 billion. The Fund aims to create a new generation of Emirati entrepreneurs by instilling and enriching the culture of investment amongst young people, as well as supporting and developing small to medium-sized investments in the Emirate.

Entrepreneurship and SMEs in the UAE

Khalifa Fund for Enterprises DevelopmentThe Fund has developed a system of support services for entrepreneurs. These include training, development, data and consulting services, in addition to a number of marketing-focused initiatives.Financing solutions are offered for viable projects, which help to feed the national economy. These financing programs are Khutwa, Bedaya and Zeyada, which cover all project segments.http://www.khalifafund.ae

Entrepreneurship and SMEs in the UAE

Mohammed bin Rashid Establishment for Young Business Leaders.The Sheikh Mohammed Bin Rashid Establishment for Young Business Leaders (Dubai SME) was established by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, with a vision to nurture business leadership through entrepreneurial spirit. And Dubai SME is responsible for developing that entrepreneurship in Small and Medium Enterprises.“Mohammed Bin Rashid Awards for Young Business Leaders”

Entrepreneurship and SMEs in the UAE

Mohammed bin Rashid Establishment for Young Business Leaders.One of the major goals for Dubai SME is to implement strategies and plans to promote innovation and business leadership in accordance with the UAE Vision 2021. The Vision foresees an economy that encourages creativity and translates ideas into successful businesses.It is people like you who make Dubai grow: people with vision, people with the entrepreneurial spirit necessary to start a business and develop it over time. (Nationals/Expatshttp://www.sme.ae

Entrepreneurship and SMEs in the UAE

Sheikh Saud bin Saqr al Qasimi's Fund for SMEsThe Ruler of Ras Al Khaimah and member of the Supreme Council of the United Arab Emirates initiated an institution to support young business people in RAK city.

• UAE Encourages Young Entrepreneurs• Why is the UAE a Good Place to Start a Business?• Venture Capital & Funding• Gulf Venture Capital Association• Dubai International Equity• Abu Dhabi Investment House• HBG Holdings• UAE Women Entrepreneurship• Women Entrepreneurs in the UAE• Voice of UAE Women Business Leaders

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UAE Entrepreneurship Head News