UAE: Khalifa Fund to establish own entrepreneurs association to help SME’s

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Khalifa fund for enterprise development .Photo:
Khalifa fund for enterprise development .Photo:

Khalifa Fund is working on establishing an association for the entrepreneurs it supports, in order to help small and medium sized enterprises to develop and improve their business, overcome the common difficulties and to consolidate interconnection among them”, Chief Executive Officer of Khalifa Fund for Enterprise Development, Abdullah Saeed Al Darmaki, said.

During the Tawasul Forum 2012 which was held yesterday Monday, Al Darmaki revealed that the Fund is planning to offer new program which will increase the financial efficiency of the entrepreneurs. The Fund will have accounting software which will be adopted in all enterprises benefited from the Fund’s services through providing a period table of accounting and an annual auditing account.

“The Fund will continue its efforts to establish a healthy entrepreneurship environment to improve and develop  small and medium enterprise sector in Abu Dhabi, that the Fund and during the coming year will offer many specialized training courses aiming to accelerate the management and technical efficiency of our entrepreneurs, those courses include strategy planning, human resources management and the rules and conditions of tenders and many others”, added Al Darmaki.

“The efforts given by the Fund to encourage the governmental, semi-governmental and private entities to provide the small and medium enterprises some privileges support its growth and success, the Fund signed more than 23 MOU with entities in Abu Dhabi”, Al Darmaki explained.

“There is a good response and cooperation from many entities and we are hoping that these entities will provide more privileges and facilities for  small and medium enterprises to increase  competitiveness. The success of the projects funded by Khalifa Fund and its growth means the success of planning, programs and Fund strategies”, Al Darmaki added.

“Khalifa Fund’s management is very keen to communicate continually with the owners of the enterprises and to listen to their view and understand the  problems they face  in order to work with them to find the best solutions. In addition, the management directs all departments to contact the applicants frequently and to give the maximum efforts to solve all difficulties they may face,” Al Darmaki said.

Mohamed Al Yusefi, of the Fund’s Enterprise Development and Support Department gave a presentation about the services given to the Fund’s applicants which include the cooperation with the governmental and private entities, facilitate the procedure, and provide the infrastructure for the owners of enterprises funded by Khalifa Fund.

“Khalifa Fund’s participation in many local and regional and international exhibitions comes as part of its effort to explore the entrepreneurs to others experiences and to access other markets and improve their products”, explained Al Yusefi.

“The forum contains 12 projects in different sectors which were funded and supported by the Khalifa Fund, and at the end of the forum a discussion was held to discuss the major difficulties and challenges that our applicants face and the methods to solve them, in addition to some suggestions given by our applicants which will be considered when we give any services, because our main goal is to support the small and medium enterprises to help them to participate in the economic development in the country.”

The forum’s main target is to foster the communication between the owners of the projects funded and supported by Khalifa Fund, and to assist them to build a strong networking which will increase the efficiency of those projects and to empower the link between them ,where  all parties will be benefitted.

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