Over the years, the UAE has perfected the recipe for success when it comes to creating an environment where homegrown businesses can not only set up shop, but also thrive. As such, it comes as no surprise that the UAE, home to a number of successful homegrown businesses, ranked first globally by Global Entrepreneurship Monitor’s 2022 report as the best ecosystem for start-ups and entrepreneurs .
Today, the UAE's economy is one of the most diversified among the GCC countries, due to its business-friendly environment that has continued to entice business owners and entrepreneurs across different sectors. But the real question is: will homegrown businesses remain important to the country’s progress in the years ahead? The short answer is yes.
In light of the recent global pandemic and geopolitical factors that are currently disrupting supply chains across the world, homegrown businesses now have a greater opportunity to take centrestage and boost self-sufficiency and localisation. From the well-established brands, such as Emirates Airlines to smaller local businesses, such as Makaw Chocolate and Have Cafe, homegrown businesses are flourishing and contributing to social and economic benefits.
Economically, the benefits are clear. The abundance of small and medium enterprises in the UAE is a clear sign of a diversifying economy, demonstrating that our regulatory frameworks, excellent infrastructure, new visa reforms and ease of doing business go beyond something that is talked about in the media and into actual on-the-ground benefits for the people of the UAE.
These reforms have built trust in the UAE economy and positioned it as a key market for investors from around the world with Foreign Direct Investment inflows reaching $22 billion this year, according to a recent report by the Institute of International Finance. Additionally, the International Monetary Fun is expecting the UAE’s non-oil economy to expand 4 per cent in 2023 and for it to continue to grow. This is mainly due to the ongoing business and investment reforms that make it possible for homegrown businesses to thrive.
On a societal level, the encouragement and amplification of homegrown businesses underlines the sense of pride and identity that we have here in the Emirates. Seeing homegrown businesses thrive provides citizens with role models and fosters aspiration in citizens as well as residents that they, too, can achieve their entrepreneurial dreams. A stronger economy also naturally means more jobs and a generally happier and more productive society.
Homegrown businesses also play a key role in supporting an innovation-based economy, which is key to the UAE’s long-term success. In the face of bigger, more well-known international brands that have larger resources, homegrown businesses must be innovative and agile in order to be competitive.
Entrepreneurs are always looking to find new, ground-breaking solutions to solve existing challenges, which could be as straightforward as bringing a unique product or service to the market, while larger companies’ operating models might not respond as quickly and effectively.
Moreover, from the point of view of sustainability, the economy and the planet benefit hugely from homegrown businesses. They tend to strengthen the local economy through their products and services from other local businesses, resulting in a mutual beneficial partnership. This also means that businesses sourcing local products typically require less transportation and less outsourcing, reducing its environmental impact.
Homegrown businesses also play an important role in building a strong community identity. Businesses that are born within a community serve their local community, provide jobs for local people, enabling local talent to be showcased, and inevitably become woven into the fabric of the local landscape. These businesses build an emotional connection with the local community through buying from and selling to friends and neighbours.
Smaller homegrown businesses in particular foster a strong emotional bond with their customers. These often customer-oriented businesses provide personalised experiences, which in turn inspire customer loyalty. Across the world, this loyalty supports local economies during tough times and periods of crises. During the pandemic, several customers favoured small local businesses with that patronage enabling the very survival of the business.
It is also the case that small homegrown businesses do not necessarily stay small, nor do they stay at home. Many homegrown businesses have gained international recognition, becoming major players on the international stage. These businesses become global ambassadors for their home country, boosting how the brand is perceived both at home and abroad. Burberry is a brand closely associated with the United Kingdom, BMW with Germany and Louis Vuitton with France. In the UAE, businesses such as Huda Beauty and Emirates Airlines wave the flag for the UAE and boost the country’s reputation as an incubator for successful businesses.
We have a large community of homegrown businesses within DIFC with 47 of them located in Gate Avenue, Gate District and Gate Village alone. Some of these enterprises include the Neem Lounge, that offers authentic Emirati cuisine; Sushi Fashion, for Japanese cuisine, and Bliss’d Juicery & Cafe, for healthy meals and drinks.
Homegrown businesses such as these are central to the UAE’s competitiveness and long-term growth, as they are a key driver of the economy.
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
Killing of Qassem Suleimani
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Company Profile
Company name: Fine Diner
Started: March, 2020
Co-founders: Sami Elayan, Saed Elayan and Zaid Azzouka
Based: Dubai
Industry: Technology and food delivery
Initial investment: Dh75,000
Investor: Dtec Startupbootcamp
Future plan: Looking to raise $400,000
Total sales: Over 1,000 deliveries in three months
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Killing of Qassem Suleimani
PSA DUBAI WORLD SERIES FINALS LINE-UP
Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)
Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
Bob Honey Who Just Do Stuff
By Sean Penn
Simon & Schuster
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
