Giving Entrepreneurial Youth a Fighting Chance with RAK SME
RAK SME was established in 2007 by Amiri Decree in Ras Al Khaimah, United Arab Emirates to support young entrepreneurs with start-up projects. They provide small and medium enterprises with everything from quick and easy steps to simplify their procedures, to market entry resources. Their efforts have enabled the youth in their communities to establish and develop projects to enhance sustainable development in the Emirates. This work led them to win the Bronze Stevie Award for Company of the Year in the Small, Nonprofit or Government Organizations category of The 2017 International Business Awards.
Achieving Sustainable Development
In order to provide an attractive environment for Emirati youth entrepreneurs, RAK SME supports a mission to strengthen the national economy through the Saud Bin Saqr Foundation for the Development of Youth Projects. RAK SME is also an initiative of Ras Al Khaimah Chamber of Commerce and Industry by incorporating a wide range of services to the members of their corporation. Rashed Sawaqed is the Business Development Consultant for RAK SME, specifically focusing on Feasibility Studies and Business Development Consultancy which aims to support and develop SME's in Ras Al Khaimah.
“From facilities and exemptions to commercial license fees, industrial and sustainable development, RAK SME makes annual goals for clear and distinctive imprints during the process of promoting and supporting youth enterprises. In addition to encouraging nationals to lead businesses, diversify the economy, and achieve sustainable development.”
RAK SME services provided for its’ members include exemptions from the payment of commercial license fees, economic and legal consultancy, business incubators and business admin services, training and development programs, workshops, discounts on various services (including participation in local and external exhibitions) and free industrial and commercial plots for development.
Playing a Major Role
Saud Bin Saqr Foundation for the Development of Youth Projects is one of the initiatives of the Ras Al Khaimah Chamber of Commerce and Industry. The Foundation aims at developing the business sector and contributing to the government's policy in the development of youth projects in the Emirate of Ras Al Khaimah, where small and medium enterprises play a major role in the development of the national economy. Sawaqed comments on how winning a Stevie® has made a positive impact on achieving their goals.
“Winning the Stevie Award was an enormous achievement for our organization and continues to prove beneficial to our operations. The awards raised our customers’ confidence in our business and our capabilities.”RAK SME is now organizing a practical training course entitled "Making Financial Decisions for Your Business Project" for entrepreneurs. Those interested in the business community within the framework of the plan can develop and qualify small and medium enterprises under the umbrella of the Foundation.