Bahraini entrepreneurs selected for major U.S. franchise event

In line with Tamkeen’s ongoing efforts to boost the productivity and competitiveness of Bahraini enterprises, 15 Bahraini enterprises were selected to participate in the 19th annual International Franchise Exhibition (IFE) through the Growth Assistance Scheme, one of the many schemes available under the Enterprise Development Support Programme.

The Bahraini business owners, who have proven the franchise potential of their business and met Tamkeen’s selection criteria, will be part of an official Bahraini delegation attending the world’s premier franchise event in Washington DC from 9th – 11th of April under the auspices of the U.S. Foreign Commercial Service.

“The reach of the Growth Assistance Scheme encompasses important events held outside of the Kingdom,” said Dr. Ahmed Al Shaikh, Vice President of the Enterprise and Human Capital Development at Tamkeen. “Our decision to sponsor the 15 enterprises, came as a result of our confidence of the knowledge gained at the exhibition and conference, coupled with the breadth of opportunities that will be on offer during the three-day event which will, in turn, benefit our national economy.”

“I urge those who did not meet the minimum scores in the scoring model to visit our website (www.tamkeen.bh/edsa) regularly and stay in touch with our dedicated Enterprise Development Support staff as there are more opportunities to come,” he added.

The Bahraini business owners were selected via a transparent and meticulous scoring model, which was designed by the Enterprise Development Support Agency, KPMG Fahkro, to streamline the selection process. The adopted model measured the potential of developing their locally established enterprises into franchised business model that can be rented to regional and international investors. The specific measures also included experience in providing the given products or services, the company’s annual turnover, and the brand presence in the marketplace. Previous franchising experience was also an advantage.

One of the selectees, Mrs. Nawal Alsabbagh, owner of Nawal Flowers, said, “I look forward to attending this important event because I believe this is a golden opportunity for growth on a personal and business level. I am sure that it will provide me with the knowledge and the tools to achieve my vision to expand Nawal Flowers in the region and develop into a worldwide franchise. I encourage all business owners in Bahrain to utilise the opportunities provided by Tamkeen to help them enhance the productivity and efficiency of their businesses.”

The annual International Franchise Exhibition (IFE) will provide the Bahraini participants with the opportunity to network with thousands of entrepreneurs, franchisors and prospective franchise owners from nearly 80 countries. They will also be exposed to hundreds of franchise concepts from a vast array of industries, which they can apply to their businesses and spread this knowledge upon their return. Also, running alongside the exhibition will be expert-led seminars and symposia covering basic concepts of franchising, providing wealth of information and opportunities to the Bahraini delegates.

The U.S. Ambassador in Bahrain, Adam Ereli, also commented, “One of our top priorities is to bolster trade and investment relations between the U.S and the Kingdom of Bahrain. We have a proven track record in our partnerships with Bahraini companies and we seek to expand our trade relations with Bahrain to include diverse sectors in the economy.”

Tamkeen’s support to attend the internationally renowned event represents a significant step towards its mission of providing Bahraini enterprises with the necessary tools to be more productive and competitive in line with Bahrain Economic Vision 2030. Approximately BD19,000 were paid through the Growth Assistance Scheme offered by Tamkeen under the Enterprise Development Support Programme, to cover 70% of participation fees of the 15 attendees. This co-sponsorship also includes travel and accommodation costs and the seminars surrounding the exhibition in which each participant is allowed to attend up to three seminars.

Tamkeen’s Growth Assistance Scheme is a co-financing scheme designed to support enterprises and make them sustainable by increasing the reach of their products and services through participation in key trade exhibitions. Gulf International Industry Fair and the Bahrain International Garden Show are recent examples of key local and regional conventions that Tamkeen provides assistance with, putting Bahraini enterprises on the fast-track towards a productive and prosperous future.

The Enterprise Development Support Agency, managed by KPMG Fakhro, assists Bahraini enterprises in the various programmes. To facilitate the application process, the Agency has a dedicated premises in Seef area at Meral Building. Entrepreneurs and companies in general can simply drop in to ask questions and apply for any of the various schemes under the Enterprise Development Support Programme, which are: the Business Development Scheme, the Technical Assistance Scheme, the Quality Management Systems Scheme, and the Growth Assistance Scheme.