Dubai BWC holds talks on MSMEs
Roundtable discusses corporate governance across Gulf region
The Dubai Business Women’s Council (BWC) held a roundtable to discuss the corporate governance of Micro, Small, and Medium Enterprises (MSMEs) across the Gulf region.
The roundtable, held in collaboration with the Pearl Initiative,was attended by business leaders representing various companies in Dubai.
The event, titled ‘Accessing Capital: Is Your Business Ready?’ was held to promote the discussion around corporate governance practices and assess their impact on the operation and success of MSMEs.
The event aimed to encourage companies to introduce corporate governance best practices with the objective of increasing competitiveness.
According to a report by the Pearl Initiative, MSMEs face critical issues across their business cycle, including difficulties finding funding, over-reliance on individuals, difficulties retaining talented staff, and the lack of time needed to focus on critical business matters.
Corporate governance practices are an important tool in overcoming these challenges and can provide assurance to stakeholders and investors that a business that is thinking about it can boost growth.
The research published by the Pearl Initiative also indicated that 76 per cent of the Gulf MSMEs are looking to expand over the next one to two years, but only 26 per cent of them have enough capital to do so.