Previously I wrote 2 articles titled (Small enterprises… Economical and Political dimensions) and I spoke in details about the role of small enterprises in facilitating economical and political support and the social bond created by it in any country, and I have supported my statement with subjective and quantum clues to the role that can be achieved by small enterprises in the growth process as a whole, and I went through the obstacles of establishing small enterprises and their role in the Kingdom of Saudi Arabia, and have confirmed in my article that many countries of the world has been alarmed by the dangers if this subject and has established specialized ministries for it due to the huge part it takes on economical and political stability that relies on the success of small enterprises in their essential active role in treating unemployment, poverty and strengthen the middle class part in the community which forms the backbone of political, economical and social stability in any country around the world, I finished my article by confirming the success of practical application to the ‘Saudinization’ model needs to be dealt with more depth by the country programs and economical mechanisms that the country contributes with, in supporting enterprises that are able to bear the massive number of the unemployed Saudi public, in order to narrowing the increasing gap day by day between the rich and poor, and that slowing down to accomplish that will have, with no doubt, unforeseeable economical and political consequences and where many aware countries have programs and ministries that deserve from us to study in depth and to seriously apply. Those who do not read the history of nations and people to withdraw examples and lessons, history will only make another example and a lesson from them to be read in years to come.
In my last visit to the United Arab Emirates, a colleague of mine too me to visit each of the institute of Mohammad Bin Rashid to support youth projects which is an ambitious project to finance newly established national enterprises, I was admiring what I have seen with my own eyes and what I have heard with my own ears, and today I will speak to you about the institute of Mohammad Bin Rashid to support youth projects.
This institute was established in the purpose of supporting initiative and encouraging and facilitating progress and development in private businesses and motivate initiatives between locals, in addition to motivating the progress and growth of a vital economical sector which is the sector of small to medium size enterprises, the institute relies on providing different kinds of incentives and competitive programs to a local business community to achieve its goals, the institute activities also concentrates on encouraging the establishing of new projects through facilitating ideas and financial support and encouraging initiatives between locals by providing them with new ideas to raise the level of their awareness and educate them as well as provide them with specified opportunities to them, last but not least, helping and supporting institutes managed by local citizens through publishing best practices and providing opportunities to them in the market.
The process of this institute is divided into 5 main sectors according to the provided services, and they are as the following:
(1) Business Center
(2) Financing program
(3) Government purchases program
(4) Privileges field sector
(5) Development of entrepreneurship.
Due to the limited space in the article, I will summarize some of the points to each sector:
In the business center, beginners can establish their new businesses and obtain all the support required to manage and develop their companies in an efficient way and a reasonable price, thus providing the youth a free of charge trading license for 3 years just by applying to the business center, in the next day beginners are presented an office with minimum charges, the office includes telephone, fax, computer and secretarial services if required among other necessities.
And I saw in my own eyes those beautifully equipped offices in one of the top floors of the famous emirates towers, a section for male and another for females all with amazing views to Dubai, the choice for those offices in specific was in the highest point in the city inbounded with a clear message to each youngster and youth by stating: you are the most precious and profound gift we have, release your ambitions to raise you up high in the horizons.
In those offices all newbie’s can benefit from the experience of specialists and other efficient services with minimum costs through markets that are grouped for services required by small enterprises, in addition to benefiting from consulting services with maximum efficiency and minimal cost, training and development courses inside the institute as well as lectures specified to the small enterprises sector with full benefits from networks and communications as well as many available resources through the institute.
The financing program is a program that gives full financial support to help newbie’s in business from local citizens who are not able to finance the necessary capital to start their projects in the purpose of helping them face the challenges of small and medium enterprise businesses and provide them with the capital according to their needs, the institute has allocated 700 million dirham’s to benefited by those newbie’s with preference conditions, the most important issue in the subject is that the process of applying to benefit from this amount is simple and organized, as well as the conditions that are easily achieved, as the aim of the institute is to encourage newbie’s from the youth and support them, in addition of providing consultancy to whoever wants to benefit from their loans.
The government purchases program concentrates on governmental issue that was published in allocating 5% of all governmental and semi-governmental purchase processes to all business men registered in the institute, thus increasing projects and available opportunities to small and medium size enterprises, as well as guaranteeing the allocation of a certain percentage of governmental projects to the enterprises registered to the institute, and the beauty of the matter is that a number of private sector companies have joined to the purchases program by allocating 5% of their internal purchases to the enterprises registered in the institute, and creating a window for small and medium size enterprises to the purchases of some private and governmental companies equally to support local beginners through increasing opportunities in the marketplace, which assists in establishing a local market that enjoys a group of high quality products, and another benefit is razing up the level of services and their varieties in the market through the serious and confident activities that includes inspecting all registered enterprises in the Government purchases program to assure quality and variety of services are being provided.
As for the privileges field sector, citizens who are starting to receive advices and legal, financial and managerial consulting with communication and follow-up through the institute with global corporate to receive privileges and trademarks.
Last but not least is the Development of entrepreneurship program which evolved from the comprehension and recognition of the institute that knowledge is the cornerstone to establish any independent work and managing it successfully while continuously learning and progressing are the main factors to achieve success in any profession or field, that is why a separate unite was designed only meant and directed towards encouraging and developing the sense of entrepreneurship for local Emirati citizens through providing training and development programs continuously that relies on internal resources of training and to support entrepreneurship with different incentives that includes financial rewards for all kinds of accomplishments and achievements.
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