Strengthening Our Economy: Who Are the Key Players?

Want to build your business using social-media savvy? New initiatives are providing the in-depth training you need—and the focus is on startups. Ready? Set? Go!

SMEs in the Middle East have taken the route of starting up their own businesses on the internet—a world where you can give birth to a concept and eventually build your empire.

The SME sector in Bahrain accounts for 99 percent of all registered companies in the country. It employs over 421,000 people, of which over 52,000 are Bahrainis. In the overall effort to help strengthen and diversify the economy, this sector takes the biggest chunk! Amid current economic conditions, for those with hidden talents and low budgets, social media has become the ideal platform. In addition, the current Middle Eastern generation has now grasped the power of online expression and understood the impact it can have.

The global management consultancy A.T. Kearney released a report stating that in the GCC, “successful SMEs create jobs four times faster and drive revenues six times faster than large companies. In addition, “the sector will contribute an additional $100 billion to the GDP and up to 2 million jobs in the coming years.”

Another interesting report, Social Media as a Business Tool for SMEs in the Arab World, talks about the increased number of Arab internet users who are accessing various social media channels to connect, communicate, and share. A report from ASMR (arabsocialmediareport.com), under the patronage of His Excellency Saqr Ghobash Saeed Ghobash, UAE Minister of Labor, stated that “social media is a critical tool for startups across the Arab world. 86 percent agreed that social media was critical to business success.”

SOCIAL MEDIA IS A MAJOR BUSINESS ENABLER IN THE GCC FOR MOST SMES. BEYOND THE COMMONSENSE REASONS, WE MUST ALSO UNDERSTAND THAT IN ORDER FOR SMALLER BUSINESSES TO COMPETE, THEY HAVE TO EXCEL ONLINE.

A recent survey conducted by Northwestern University in the MENA region uncovered the surprising fact that “Bahrain…topped the list in number of hours spent on social media” (webcentric.com).

In Bahrain, several organizations have begun to tap into this opportunity, creating workshops focusing upon social media training. In addition, there is a growing awareness of how to use multiple tools and software types, ranging from finance to basic coding. Most of the workshops in Bahrain center upon free online solutions that any entrepreneur can use or afford.

Why? Because that particular route applies to the majority of SMEs, and that’s where we can solidify the pipeline. Young business owners are already in their element starting their businesses online, but extended reach via social media professionals can add an extra layer of expertise.

Successful entrepreneurs in Bahrain from various industries have devoted their time to guiding other young entrepreneurs by way of technical programs that allow entrepreneurs to apply their knowledge on crucial platforms to help kick-start their businesses.

Early this month, the ‏‎International Social Media Club‎‏ (ISMC, Bahrain Chapter) signed an agreement with the Bahrain Training Society (BTS) to launch the Social Media Coach Training Course. “This is the first of its kind in the Middle East…aimed to enable coaches in various specializations to invest in social media websites, tools, and features for training,” stated the chairman of the ISMC. Under this agreement, social media experts in the club will organize workshops, forums, and coaching consultation for members and non-members.

The GCC has begun to understand how to build the right ecosystem to support the needs of the majority of the population. SMEs represent the key to a better economy—and we have been paying attention. We are living in a time in which governments, institutions, and SMEs are coming together to visualize a better future.

Bahrain-based digital platform and publication for startups in the Middle East. Exclusive events, in-depth workshops, insightful content, and informative news. In strategic partnership with Tamkeen Bahrain, Zain Bahrain, National Bank of Bahrain, Zoho, Tenmou, and StartUp Bahrain.

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