In order to build a business and become an entrepreneur, there are basic principles to follow, principles that are the foundation of SMEs and multinational corporations. In the last decade, giving the exponential growth of digital aspects, in addition to the traditional elements, a new one must be considered: digitalisation.
In the United Arab Emirates (UAE), SMEs made digital technology an integral part of their business. The majority of the companies are in the process of evaluating how to digitalise, while the other 10% is divided between those who are innovating and those who are resisting the digital transformation. The main thrust towards digitalisation lies in the exponential growth of the e-commerce sector, especially after the Covid-19 outbreak.
The Khalifa Fund (holding INSME vice presidency), aligned with the UAE government, demonstrated its support for SMEs during the crisis by ensuring resources and knowledge providing interactive e-learning contents. A support which resulted in remarkable outcomes for the more flexible companies. One example is the e-Empower initiative, launched in September 2020 to overcome the impact of the Covid-19 pandemic and designed to smooth the transition into the digital era for all Abu Dhabi SMEs through three simple steps: engaging customers, optimising business logistics and empowering the company from within by enabling their employees with digital technology.
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Source: The International Network for SMEs - INSME
