When the BCB launched its Dubai incubator in summer 2014, we were able to offer our support to British SMEs for a maximum of twelve months. However, it quickly became apparent that our client companies needed extra time to orientate themselves, understand the market and start gaining traction before having to graduate from the BCB. Twelve months is not a long time in business, especially in the UAE where time appears to pass quickly.
With an ambitious figure of £20 billion set for UK UAE bilateral trade (by 2020) the pressure is on both sides of the table to ensure success. Understanding the need for flexibility the Dubai Department of Economic Development agreed without hesitation to allow the BCB to extend its licencing provision to two years instead of one.
In addition to the license extension, we expanded
internally with the hire of four trade managers. Each trade manager is responsible for a different sector and they bring with them many years of relevant experience. Due to this we’ve been able to expand our services in 2015 to include event planning and market intelligence.
So far three companies have renewed for the second year, and talking to prospective clients it seems two years is more attractive than one. Furthermore, in 2015 we organized multiple partner events for clients to help them showcase their products. It’s been a very good year, and a very busy one, and 2016 has already told us we won’t have time to rest once it arrives.
Here’s to a few days off, and to a prosperous New Year!