The Dubai Chamber of Commerce and Industry spilt the beans and announced their initiative to help over 50,000 companies to flourish in the UAE market.
The Department realised that with the uncertain and dynamic business environment, it is a prerequisite for companies established in Dubai to keep their business updated with technology and innovation.
How does the Dubai Chamber help Businesses?
Dubai Chamber would help businesses that have incorporated the company in Dubai, by strengthening the firm's market foot standing via digital transformation.
The challenges faced by business sectors around the world are complex and crucial to tackle. The spread of the deadly virus; COVID, left no stone unturned to wave out the growth and development of companies.
Digital transformation is a step towards adaptation to the new reality. Prioritisation of digitalisation has proven to be result-driven and practical. Thus, technology and innovation have become pillars which uphold businesses in UAE.
How Digitalisation is Beneficial for Companies?
Gone are those days when it was enough for firms to own a website. As per the reports, 80% of the companies, which are both digitalisation and customer-centric were able to earn high revenue and enhance their brand's goodwill.
The utilisation of all key metrics of digitalisation-
· online search via various mediums
· analytical reports
· e-commerce platforms
· mobile apps
· social media channels
A proper study and analysis of these metrics bring informative insights into firms' notice. The companies are more aware of their customer's needs and firms' market position.
Digital tools and tactics have made it easier to reach and access to broader audience coverage. When a company receives orders worldwide, it leads to an increase in the customer base, brand awareness and goodwill value of the brand.
UAE’s Potential Business Market
In a report published, Dr Ahmad bin Abdullah Humaid, Minister of State Entrepreneurship and Small and Medium Enterprises, briefly explained how beneficial digitalisation is for small business entities and how endeavors hard to compete with existing substitutes brands.
Adding on, he also said SMEs in the UAE are blessed with the country's encouraging and sophisticated business environment which consists of world-class digital infrastructure. Dubai's business sectors hold the potential for the growth of firms driven by innovation. Thus, potential investors always do their utmost to set-up a company in Dubai.
Strong Leaders and Entrepreneurs
The Covid-19 crisis could be seen as a tunnel with a shine at the end. Wondering how? The business sectors were struck hard, the same persuaded entrepreneurs to do their best instead of outshine their survivor personality.
The crisis indeed produced a new generation of entrepreneurs, who were resilient enough to look out a challenge as an opportunity to get stronger. The private and government sector companies took advantage of comprehensive digital solutions to fight up with dropped sales, lost revenue margin, and many more negative impacts.
The success story of these businesses was manipulative enough to persuade those who have established companies in Dubai, to invest in modern technologies which is a solution to be more result-driven to the repercussions of the pandemic.
How Google Did Their Part?
Karan Bhatia holds a prominent hierarchical position. He is the head of global government affairs and public policy, in a conference he clearly explained how google would contribute to Dubai Chamber's initiative.
Google is an online platform via which businesses and individuals in MENA could get knowledge of assisting tools and digital skills. He blew the gaff, revealing about "Through Grow Stronger with Google". It is an initiative taken with an aim of helping one million businesses and individuals in Mena to flourish their respective companies by learning digital skills.
Impacts of Initiative
· It would immensely help in enriching the role of governments and local partners in the growth of Dubai's economy.
· Growth of business sectors along with tech adoption had made the country embark on a journey of transformation.
· Business owners and entrepreneurs feel secured and assured of the Dubai government being with them during the crisis.
· It has strengthened the bond of Emiratis with the government. Each initiative was taken indirectly impacts the GDP and living standards in Dubai.
Conclusion
Even after the crisis, Dubai's government stands strong as a pillar to support all Emiratis and those who incorporated business in Dubai . The negative impact of the Covid-19 crisis had slowed the growth of business sectors; there still exist latent solutions and opportunities for an entrepreneur.
Thus, we can say a leader or an entrepreneur is someone who stays tough when the going gets tough. We at Commitbiz, know how crucial it is to tackle obstacles in the entrepreneurial journey. Our company is customer-centric and driven by the aim to assist budding entrepreneurs in multiple documentation proceedings and other vital business decisions and fields. Contact us to reserve your position in the competitive Dubai's industry.