RAKEZ Workshop Equips SMEs With Essential Financial Tools For Sustainable Growth

Ras Al Khaimah Economic Zone (RAKEZ) is dedicated to empowering entrepreneurs and SMEs through educational initiatives that address real business challenges. A recent session titled ‘Mastering financial management: Smart money strategies for SMEs’ was held at Compass Coworking Centre. Business owners and financial leaders gathered to share practical insights on strengthening financial foundations.

The event, led by Dr. Alida Helena Scholtz, Chief Financial Officer at RAKEZ, and Reem Abushama, an experienced tax consultant, highlighted RAKEZ’s commitment to supporting its business community beyond initial setup. They offer continuous learning and growth opportunities for businesses within their ecosystem.

Ramy Jallad, CEO of RAKEZ Group, emphasised the importance of financial literacy for SMEs. He stated, "For any SME, financial literacy is not just a skill—it’s a strategic advantage. At RAKEZ, we’re proud to support the SMEs that contribute up to 63.5% to the UAE’s non-oil economy, with SMEs making up the majority of our +30,000 business community."

The session covered essential yet often overlooked financial topics for growing enterprises. These included creating realistic budgets, understanding key metrics, improving cash flow resilience, and reducing costs without affecting performance. Participants engaged in expert-led discussions that simplified complex financial concepts into actionable strategies.

RAKEZ has developed a vibrant ecosystem that extends beyond company setup. It offers expert-led seminars, hands-on workshops, and networking events that help entrepreneurs connect and find practical solutions for growth. This aligns with the UAE’s vision to strengthen the SME sector as a key pillar of long-term economic sustainability.

Attendees left with practical tools to optimise spending and adapt budgets according to market changes. The session also stressed the value of mentorship and agile financial planning in ensuring long-term sustainability for businesses.

The forecast suggests there will be 1 million SMEs in the UAE by 2030. RAKEZ is committed to playing an active role in this growth by providing resources and support to help these businesses thrive.

With inputs from WAM