Innovation is critical for our country’s development: scientifically, commercially and economically. And critical to innovation is the small and medium enterprise sector.
It is the ambitious entrepreneurs and business owners of the SME sector who will create and develop the new ideas, concepts and technologies that will change our lives.
There are many reasons why individuals are opting to set up their own businesses and contribute to this dynamic landscape. Some have a fantastic idea that demands to be realised. Others can’t stand being tied to their employers’ working hours and prefer to set their own schedules. Others just can’t stand their employers and want to be their own bosses. And then there are those who dream of building their own business empires.
Whatever the reasons, all entrepreneurs share a strong desire for self-fulfillment and a conviction that their business idea will bring them wealth and independence.
Deciding to make the leap to start a business from scratch involves considerable challenges, long hours and unblinking dedication. Outsiders can easily underestimate how much effort it takes.
But if executed correctly, the payback can be substantial – the right balance between work and home, the sense of taking charge of one’s future. Key to a successful business launch is for the entrepreneur to understand his or her strengths and build upon them, while acknowledging weaknesses that might benefit from appropriate support.
Since last year, The National has been actively supporting the SME sector with free advertising in the business section. We will be profiling these businesses and their owners, outlining their personal stories, highlighting their challenges and assessing the opportunities for a critical section of the economy.
The SME sector currently accounts for about 60 per cent of the UAE’s non-oil economy, including 90 per cent of businesses overall. The sector employs more than 42 per cent of workers, with the Ministry of Economy predicting that SMEs will account for 70 per cent of the country’s non-oil GDP by 2021.
Knowing how important this sector is to the growth of the economy, and the opportunities and options it provides to individuals to fulfil themselves, The National on Tuesday launches a campaign to find the entrepreneurs who are making a difference: those people who are introducing the new ideas, setting up the new businesses, creating the new jobs.
We want to celebrate and acknowledge the entrepreneurial spirit and the achievements of these new business people. And just as importantly, to acknowledge their boldness and courage.
The National asks you, our readers, to nominate who you believe to be the top innovator in the UAE by contacting us on email, Twitter, Facebook or Instagram, using the hashtag: #UAEinnovators.
The final list of top nominees will be compiled by The National’s business team and revealed at an SME convention in April.
Send us your suggestion for a top innovator by emailing uaeinnovators@thenational.ae or on Twitter @thenationaluae using #UAEinnovators
Mohammed Al Otaiba is The National’s Editor-in-Chief
@AlOtaiba_M
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