As an indication of its success in attracting Young Entrepreneurs

Dubai, February 9, 2009--Mr. Abdul Baset Al Janahi, CEO of Mohammed bin Rashid Establishment for Young Business Leaders (MBRE), said that the Establishment has achieved significant milestones that have resulted in positive effects for the economic development in the UAE, and Dubai in particular. This is the result of MBRE's support for the innovative enterprises of national business leaders, commented Al Janahi.

Mr. Al Janahi stated today that (MBRE) is highly interested in the distinct projects that support the national economy and bring outstanding benefits at both social and economic levels. He noted that MBRE attracts large numbers of UAE youth, both males and females, to join its membership, noting that the Establishment opens its doors to all UAE entrepreneurs who show innovation and creativity in their projects.

According to Mr. Al Janahi:

"Last year, about 1575 applications were submitted to receive Establishment's various services, a 25% increase compared with 2007. 70% of these applications came from Dubai, 12% from Sharjah, 9% from Abu Dhabi, 3% from Ajman, 2% from Fujairah, 3% from Ras Al Khaima, and 1% from Umm Al Qaiwain.

These members are engaged in different economic activities, as 83% of businesses are in service sector, 6% in industry, 6% in tourism and 5% in professional activities.

By the end of 2008, the number of small and medium enterprises joining the establishment reached 790," he explained.

Al Janahi added:

"The volume of MBRE's members' contracts with governmental departments in 2008 is estimated at more than 650m AED. This was part of the Government Procurement Programme. Business leaders seeking financing services for their projects accounted for 37% of application, seekers of Business Incubation Programme constituted 25% and the members of Government Procurement Programme formed 18% of the total application. On other hand, MBRE's members are 73% males and 27% females. Whereas, in regard to the educational level, 30% of the applicants are with high school education, 13% with diploma and higher diploma degrees, 8% with bachelor degree, 7% with Master degree and 2% with PHD."

Al Janahi pointed out the 13 training courses launched by the Establishment in 2008 to help business leaders in the decision making process. He said that the most sought after courses for entrepreneurs were "Identifying Business Opportunities" and "Creating Ideas and Setting up Business Plans". Meanwhile, owners of small and medium businesses showed interest in courses like "Understanding Basic of Financing and Accounting" and "Marketing Principles for Small and Medium Enterprises".  

MBRE's CEO said:

"Guided by the instructions of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and the Chairman of the MBRE's Board of Directors, the Establishment supports and encourages the UAE national business leaders. It strives to provide UAE nationals with the opportunity to establish their own businesses and to effectively contribute to the economic development of their country."

Al Janahi noted that MBRE will soon launch the Entrepreneur business Village, the biggest project to support small and medium enterprises and to consolidate the concept of entrepreneurship. The project, the first of its kind in the region, will provide a platform for young Entrepreneurs to express and exchange their thoughts and ideas and will be built on an area of one million square feet in a key location near the Clock Roundabout in Downtown Dubai.

Al Janahi also referred to the MBRE's yearly award that compliments the Establishment's vision to promote innovation, entrepreneurship and competitiveness among UAE youth, and to the "Young Entrepreneur Competition" which is designed for the UAE government and private high schools and aims to encourage creativity among future generations. This competition attracts huge interest as more than 220 students have participated in its various activities to date.

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About Mohammed Bin Rashid Est. for Young Business Leaders
The Mohammed Bin Rashid Establishment for Young Business Leaders was launched in 2002. The vision of the Establishment is to nurture the entrepreneurial spirit among UAE nationals and support the development and growth of the small and medium size enterprises.  The Establishment's core mission is to encourage and facilitate the development of local start-up businesses across Dubai. To this end, the Establishment offers a wide range of incentives, enabling services and training programmes. The services of the SME extend to both entrepreneurs with existing businesses as well as budding entrepreneurs.

For more information please contact:
O2 Public Relations
Husny Deyab
Email: husny.d@o2pr.net
Tel:  00971 50 3110122 

© Press Release 2009