Many newbies could think that the most important thing when you just established a small business is to get funding. To a certain extent, that is true. However, operations management and proper allocation of funds should not be underestimated, say experienced entrepreneurs. Big corporations can afford to hire tax and business development consultants to minimize risks but this is not option for a newly-established small company.
That is why the Dubai’s Mohammed Bin Rashid Fund (MBRF), inked an agreement with Metis Management Counsultancy to provide post-fund monitoring service to the UAE’s young and emerging SMEs. Metis will work closely with Dubai SME. Whenever its portfolio companies require assistance with budgeting or any other financial matter, they can approach the consultants.
At the moment, MBRF provides diverse loan schemes to starting and emerging businesses. Metis will now handle the post-funding monitoring process. The consultancy firm will also hold bi-monthly or quarterly meetings with the startups to discuss the business strategy, the marketing plan, and the operations. Metis will send a detail report to MBRF after each visit:
We believe in the potential for growth of these companies, however, entrepreneurs or SME’s sometimes lack the tools and the skills necessary to make informed decisions. We hope, through our highly experienced team at Metis, to bridge the gap, and enable those companies to achieve, and better yet, surpass their targets.