Pearl Initiative, DBWC collaborate to direct Dubai MSMEs to put governance in action

DUBAI, Pearl Initiative, the business-led non-profit organisation promoting a culture of corporate transparency and accountability in the Gulf region, recently collaborated with the Dubai Business Women Council, DBWC, to hold a two-day workshop for MSMEs to demonstrate and explain the long-term benefits of good corporate governance practices.

The workshop also allowed participants to engage with effective ways and tools with which to apply governance for improved business outcomes. It targeted 30 Dubai-based MSMEs and was held at the Dubai Chamber of Commerce and Industry.

Attendees who completed the workshop received a Continued Professional Development certification, which is globally recognised and will add value to their business engagement activities throughout their careers.

After receiving an introduction to corporate governance principles, stakeholder management, corporate culture and workforce diversity, attendees engaged in activities and exercises, which demonstrated how they can successfully apply governance principles for sustained business success.

The workshop comes in the wake of a workshop rolled out earlier this year in Oman, by the Pearl Initiative in collaboration with the International Finance Corporation, where Omani MSMEs were trained to apply the best practices in corporate governance to boost their market competitiveness.

Yasmine Omari, Executive Director at the Pearl Initiative, said, "Through this corporate governance training series, we are addressing a growing developmental need of MSMEs identified in the Gulf Region. This alone justifies the premise for our workshop series; the application of corporate governance principles has a proven ability to enhance business outcomes and competitiveness. Through this workshop series, we want to change the region's perception about governance not being commonly thought of as beneficial for MSMEs, as highlighted in our 2017 report."

Nadine Halabi, Business Development Manager, DBWC, said, "This workshop is one of the most important training programmes we provide to our MSME business owners because it aims at enhancing awareness about governance and its significance in achieving the sustainable growth of companies and their operations."

She added, "Governance is an integral part of the efforts made to instil confidence among companies, their clients, and their social environment. We, at the DBWC, are keen on strengthening our members' competitiveness, and providing them with the training requirements to always be in the lead."

Source: Emirates News Agency