As programme nears beneficiary target set for 2nd Phase...

Tamkeen - Manama: Tuesday September 13th, 2011: With Tamkeen's Enterprise Development Support Programme quickly approaching the 1,000 beneficiary target set for the second phase of the programme, a group of business owners who have undergone the Enterprise Development Support Programme experience gathered at Tamkeen's offices to collect their support cheques and share their thoughts about the programme and what impact it has had on their respective businesses.

Target In sight

As of end of August 2011, the total number of beneficiaries served by the Enterprise Development Support Agency during the programme's second phase which commenced in November 2009 reached 937 companies, with over BD 3.8 million contributed by Tamkeen in support over that span. If signups continue at the same rate, it is expected that the programme will comfortably reach its target by September.

The five main Enterprise Development Support schemes - "Istishara", "Techania", "Jawda", "Tarweej", and "Tasweeq" - have witnessed a notable surge in signups following a number of updates to the Enterprise Development Support Programme that raised the level of support and simplified eligibility criteria went into effect in June.

Beneficiaries voice their opinion

Mr. Ayman Hammad, started by saying he turned from skeptic to fervent advocate but after his experience. Through the "Techania" scheme, he acquired new construction equipment for his business, Wadi Al Oyoun Contracting, which has freed him from the heavy renting costs while allowing him to be more efficient and deliver a higher quality of service. His improved liquidity situation he said means he can allocate the extra funds to expanding his business in Bahrain and beyond, which he plans to do under guidance from some of the Enterprise Development's Support's other schemes.

Mrs. Nahed Hasan, a rising fashion designer, said all Bahraini businesswomen who are looking to give their business an edge need to knock on the Enterprise Development Support Agency's door. She said her business, Dar Al Joori, a specialist abaya shop, has grown by leaps and bounds after she participated in a number of regional exhibitions through the "Tarweej" scheme and now receives orders from across the GCC.

Mr. Sayed Hussaini, proprietor of Brake Masters auto garage in Tubli, proudly spoke about the sophisticated machine he purchased via "Techania" which machines brake discs and changes brake pads, an arduous and expensive process which takes one full day and was only available at auto dealerships. Mr. Hussaini described how his new machine allows him service all four tyres in just 1.5 hours, which not only means happier customers, but also higher profitability as a result of the improved efficiency of his business. After his experience, he said he intends to apply to the "Tasweeq" scheme to help market his business, and urged his fellow businessmen to take advantage of this immensely beneficial programme.

Another businesswoman, Mrs. Maryam Janahi, commented that her own business, Waham Garment Factory based in Salmabad, has participated in regional general and specialist exhibitions in the UAE and Qatar through "Tarweej" has been a boon to her business in many ways. Despite operating in a sector dominated by some big industry players, the added exposure, coupled with her innovative designs and broad product line - which includes uniforms and abayas - Mrs. Janahi said she has been able to expand her business to serve customers from all across the region.

Similarly, Mr. Nader Bardestani, applied to various Enterprise Development Support schemes for his two businesses, Elaf Beauty Center and Elancee Couture, and said the results have been better than expected. He said he was prompted to acquire his ultra-modern multi-functional skincare machine through the "Techania" scheme after noticing real demand for non-invasive skin care services from his own clients,. Mr. Bardestani said his client base grew as a result, and called on Tamkeen to intensify its awareness efforts in the next phase to reach all businessmen in Bahrain so they can benefit like he did.

Moreover, General Manager of JMA Reclamation Construction Mr. Mohammed Jassim Al-Hooti remarked that he managed to keep his business operating thanks to the new trailer he purchased from Saudi Arabia. His revenues had suffered as a result of the recent financial downturn and subsequent slowdown in real estate development in the region, so having an extra trailer to haul materials earned him much-needed revenues until the market recovered. With business never better, he further stated that he will apply for the "Tasweeq" scheme to help him market his services in the domestic market.

Good for Business Big and Small

Bu Yousif Sweets, which sells 250 varieties of the much-loved Bahraini sweets through nearly a dozen branches across Bahrain, Saudi Arabia, UAE, and Qatar, is an example of a larger enterprise which has benefited from the Enterprise Development Support Programme. Despite his thriving business, its owner Mr. Thabit Yousif decided to try the programme by taking part in an exhibition in Doha through the "Tarweej" scheme. Following his huge success there, Mr. Yousif said he will resort to other Enterprise Development Support schemes to help elevate his business from an operational and marketing standpoint as he expands further across the GCC.

Contact information

Business owners wishing to find their own success story can visit Tamkeen's Enterprise Development Support Agency office at Meral Building, Seef District, or call 17 565393 or write to edsa@tamkeen.bh.

They can also follow the latest news and updates about the various programmes through Facebook (facebook.com/tamkeenbahrain) and Twitter (twitter.com/tamkeenbahrain) pages.

-Ends-

About Tamkeen:
Tamkeen (Labour Fund) is an independent authority which formulates strategic and operational plans to use the fees collected by the LMRA in order to enhance the overall prosperity of Bahrain by investing in Bahraini employability, job creation, and social support. Tamkeen aims to be the enabler and driver in promoting business growth and offering rewarding employment opportunities in order to attain prosperous living for Bahrainis.  This will be achieved through investing in human capital, enabling enterprise growth and development, and collaborating with key policy makers and partners from the public and private sector.

The Tamkeen Enterprise Development Support Programme was conceived to stimulate the growth of Bahrain's private sector. The Programme provides co-financing to business owners, integrated with consultancy and technical assistance, aiming to improve the productivity and efficiency of Bahrain's enterprises.

The Enterprise Development Support Programme is a set of professional tools designed to benefit those looking to create positive change and improve their businesses, putting enterprises on the fast-track towards a productive and prosperous future.

KPMG Fakhro has been appointed as the agency for the new phase of the Enterprise Development Support Programme.  Established in 1968, KPMG Fakhro has extensive local experience combined with first rate international skills, making it the ideal partner to help fuel the growth of Bahrain's business community in line with Bahrain's Vision 2030.

Call 17 565393 or write to edsa@tamkeen.bh for more information. Follow the latest news and updates through Facebook (facebook.com/tamkeenbahrain) and Twitter (twitter.com/tamkeenbahrain) pages.

For media inquiries, please contact:
Hassan Aljundi
Hill and Knowlton
Phone: +973 17533532
Fax:  +973 17533370
hassan.aljundi@hillandknowlton.com

© Press Release 2011