Before Covid-19 hit there was a steady increase in new start-ups launching in the GCC region and beyond, but since the pandemic started this has seen a huge acceleration. This surge is for numerous reasons, including job loss and insecurity, pushing those who had previously put off starting a business into a position of opportunity. Many had a lot more time at home to work on their business plans but most prominently, the access to more support and accessibility to key online workshops, many of which are now complimentary.
The UAE has always been extremely supportive of SMEs and entrepreneurs looking to start their own business, making it a perfect place to bring potential dreams to life. The government has put many licences and reasonability priced options in place to make this possible. Dubai in particular has established itself as an entrepreneur-friendly location, growing a network of key thought-leaders and strong business owners. Along with the geographical location being pinpointed as a hub, it is now seen as a notable destination for start-ups.
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, in cooperation with Dubai Technology Entrepreneur Campus (Dtec), released a report at the start of this year which stood as an informative guide on Dubai’s start up ecosystem for international start-ups and investors who were looking at business options in the region. The report stands as a business-friendly measure to support business activity including items such as five-year visas, expat investors and their golden permanent residency system.
During the beginning stages of starting up a business, making the initial plunge and decision to do it is usually the hardest part. Some have the chance to have co-founders from day one, but many don’t have this chance and can’t afford to hire an initial team, which means it is a big burden on them to do everything themselves.
This is often mixed with finding the funding, which usually comes from the founders own pocket. The second largest reason why start-ups fail is due to a lack of funds or using up all the personal money invested at the start, so ensuring that you have the right strategy and fund backing at the start is imperative to making nearly all start-ups a success. This, combined with entrepreneurial passion and shared strategic vision, are extremely important.
Taking the plunge to start your business can seem very overwhelming, researching can seem very daunting with many different forms of advice on the best practices. The more smart decisions you make early on, the better chance your vision and company has at success. One of the biggest pieces of advice out there is to absorb everything. Listen to what others have to say, including friends, family and experts in your field. Don’t underestimate the power of advice from first-hand experts and business owners who know, more than anyone, what it is like to start a business. You can learn from their mistakes before needing to make your own.
Along with the support given from the government there are also companies who are running virtual workshop programmes to encourage and support entrepreneurs in making their dream a reality. At Mind Cloud, since launching the Business and Entrepreneurship Academy in 2017, we gathered together a group of successful and inspirational entrepreneurs who are committed to sharing their knowledge and experience with those looking to start or grow a business but are not sure where to begin.
There are many factors to think about when starting or growing a business, which makes getting support from the outset, from business academies or professionals, extremely important. As entrepreneurs and business owners, you go through different phases including the launch, product market fit, raising money, customer acquisition, generating revenue, growing the team, raising more money and much more. A lot of this requires new skills, many of which you may not have realised you had a gap of knowledge in.
Mind Cloud Academy was the first of its kind in the region to provide hands-on educational experiences with a mission to make key entrepreneurship mindset, skillset and support, accessible to anyone. There are many free workshops to attend, covering many topics including, building a pitch deck, common mistakes, essential tips on raising fund and much more. These types of workshops are a brilliant way to get access to top experts at no cost.
Making the right decisions and having support are the number one factors of success for anyone looking to start a new business.
Sign up to these free workshops to benefit for expert advice on starting your business.
Genny Ghanimeh, Founder of Mind Cloud Academy and Mind Cloud Tribe.
by Staff Writer
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Starting a business? Here’s what you need to know
Genny Ghanimeh, Founder of Mind Cloud Academy and Mind Cloud Tribe looks at the growth of start-ups in the wake of the pandemic
Genny Ghanimeh, Founder of Mind Cloud Academy and Mind Cloud Tribe.
Before Covid-19 hit there was a steady increase in new start-ups launching in the GCC region and beyond, but since the pandemic started this has seen a huge acceleration. This surge is for numerous reasons, including job loss and insecurity, pushing those who had previously put off starting a business into a position of opportunity. Many had a lot more time at home to work on their business plans but most prominently, the access to more support and accessibility to key online workshops, many of which are now complimentary.
The UAE has always been extremely supportive of SMEs and entrepreneurs looking to start their own business, making it a perfect place to bring potential dreams to life. The government has put many licences and reasonability priced options in place to make this possible. Dubai in particular has established itself as an entrepreneur-friendly location, growing a network of key thought-leaders and strong business owners. Along with the geographical location being pinpointed as a hub, it is now seen as a notable destination for start-ups.
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, in cooperation with Dubai Technology Entrepreneur Campus (Dtec), released a report at the start of this year which stood as an informative guide on Dubai’s start up ecosystem for international start-ups and investors who were looking at business options in the region. The report stands as a business-friendly measure to support business activity including items such as five-year visas, expat investors and their golden permanent residency system.
During the beginning stages of starting up a business, making the initial plunge and decision to do it is usually the hardest part. Some have the chance to have co-founders from day one, but many don’t have this chance and can’t afford to hire an initial team, which means it is a big burden on them to do everything themselves.
This is often mixed with finding the funding, which usually comes from the founders own pocket. The second largest reason why start-ups fail is due to a lack of funds or using up all the personal money invested at the start, so ensuring that you have the right strategy and fund backing at the start is imperative to making nearly all start-ups a success. This, combined with entrepreneurial passion and shared strategic vision, are extremely important.
Taking the plunge to start your business can seem very overwhelming, researching can seem very daunting with many different forms of advice on the best practices. The more smart decisions you make early on, the better chance your vision and company has at success. One of the biggest pieces of advice out there is to absorb everything. Listen to what others have to say, including friends, family and experts in your field. Don’t underestimate the power of advice from first-hand experts and business owners who know, more than anyone, what it is like to start a business. You can learn from their mistakes before needing to make your own.
Along with the support given from the government there are also companies who are running virtual workshop programmes to encourage and support entrepreneurs in making their dream a reality. At Mind Cloud, since launching the Business and Entrepreneurship Academy in 2017, we gathered together a group of successful and inspirational entrepreneurs who are committed to sharing their knowledge and experience with those looking to start or grow a business but are not sure where to begin.
There are many factors to think about when starting or growing a business, which makes getting support from the outset, from business academies or professionals, extremely important. As entrepreneurs and business owners, you go through different phases including the launch, product market fit, raising money, customer acquisition, generating revenue, growing the team, raising more money and much more. A lot of this requires new skills, many of which you may not have realised you had a gap of knowledge in.
Mind Cloud Academy was the first of its kind in the region to provide hands-on educational experiences with a mission to make key entrepreneurship mindset, skillset and support, accessible to anyone. There are many free workshops to attend, covering many topics including, building a pitch deck, common mistakes, essential tips on raising fund and much more. These types of workshops are a brilliant way to get access to top experts at no cost.
Making the right decisions and having support are the number one factors of success for anyone looking to start a new business.
Sign up to these free workshops to benefit for expert advice on starting your business.
Genny Ghanimeh, Founder of Mind Cloud Academy and Mind Cloud Tribe.
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