Carla Koffel (left), Executive Director of the Pearl Initiative and Saleh H A Hussain, Founder of Saleh Hussain Consultancy pose for a photo at the event. Picture: Salim Matramkot/The Peninsula
The Pearl Initiative, a leading Gulf-based non-profit organisation, co-hosted a roundtable discussion with the International Chamber of Commerce (ICC) Qatar.
Held at the Qatar Chamber headquarters in Doha, the event highlighted of the importance of good corporate governance in enhancing SME competitiveness in the region.
The discussion marked the launch of the Pearl Initiative’s region-wide programme to raise awareness about the benefits of good corporate governance and accountability for SMEs in terms of long-term business sustainability and profitability.
The programme includes a series of interactive roundtables, workshops and a Gulf-wide survey that seeks to understand the challenges that SMEs in the region face and to identify solutions and opportunities.
Specifically tailored to the GCC region, the initiative complements the existing work of organisations and funds that support SMEs, whilst recognising the importance of developing best practices that are suited to regional needs. The programme brings together key stakeholders across the region’s SME ecosystem, and provides practical guidelines and tools for SMEs to implement corporate governance through an approach that is flexible and robust at the same time.
Speaking on the significance of the event, Carla Koffel, Executive Director of the Pearl Initiative, said: “The SME sector in the GCC region has witnessed rapid growth, and plays an instrumental role in driving economic development and job creation. However, smaller businesses are unable to give adequate importance to corporate governance practices, since they are often faced with the challenge of limited resources or urgent competing business needs.”
She added: “At the Pearl Initiative, we believe it is essential to encourage SMEs to adopt sound corporate governance practices early in their business development journey, as these systems can help them to increase the value of their business and achieve long-term success.”
The roundtable aligns with the drive of the Qatar government to promote the development of SMEs. Recognising that SMEs constitute the foundation of a diversified knowledge-based economy, the Qatar National Vision 2030 emphasises the government’s commitment to providing financial and non-financial support mechanisms that help incubate and grow SMEs.
For his part, Remi Rowhani- General Secretary of ICC Qatar, said: “The International Chamber of Commerce is a great supporter in pushing for SMEs within the Qatari economy and jointly with the Qatar Chamber organises the annual SME conference that takes place in Qatar. The topics of the panel discussion will be of great interest to individuals working within the SME field, highlighting priorities for SMEs, issues that may arise and how to overcome them.
As part of its efforts to strengthen the SME ecosystem, the Pearl Initiative is also set to conduct a region-wide SME survey next month. The survey will examine the challenges and priorities for SMEs with regard to implementing corporate governance and accountability practices. The findings of the survey will be compiled into a report that the Pearl Initiative is to release after the summer.
