Abu Dhabi: The establishment of a proper entrepreneurial environment is key to the success and growth of any economy, according to Noura Al Kaabi, CEO at twofour54, said during her keynote address at the Arabnet Digital Summit 2014.
“SMEs are key drivers of economic and social progress and sources of innovation, productivity growth and employment. Reinforcing and empowering the Arab youth to fulfil their creative potential is vital to building and sustaining our media and entertainment industries.”
She stated that 94 per cent of the 300,000 enterprises in the UAE are SMEs and these companies employ 90 per cent of the nation’s workforce as well contributing 40 per cent towards GDP, which enhances the development of the UAE.
However, se said that unemployment is currently at a significant high and is considered as a major stumbling block to regional development.
“Reinforcing and empowering the Arab youth to fulfil their creative potential is vital to building and sustaining our media and entertainment industries,” Al Kaabi said.
The establishment of a proper entrepreneurial environment is “key to the success and growth of any economy” and added that entrepreneurship flourishes when there are success stories, culture, education, training, government support, access to funding, suitable salary and taxation levels and support systems.
Taking place from June 3-5 at Atlantis the Palm, the summit is hosting the region’s largest gathering of leaders in digital business and entrepreneurship for the second year in a row. The conference is set to attract more than 1,000 digital business professionals, investors, entrepreneurs, and media from all over the world.
