The Very First SMB Pulse in Sharjah – Hosted by Tally Solutions
In an effort to foster a culture of entrepreneurship and innovation in the Emirate, Sharjah welcomed Tally Solutions’ business focused event series, SMB Pulse.
Tally solutions is a leading international accounting and compliance software provider. It aims to help its customers manage their accounts and inventory, and understand how to strictly abide by tax laws. Tally Solutions is trusted by almost 2 million businesses around the world and includes a list of satisfied clients across GCC.
The event aims to focus on measures that can improve work efficiency in the ever-changing MENA business landscape. These sessions were mostly attended by small and medium sized businesses mainly since Sharjah is home to almost 45,000 small scale and medium scale businesses and this was the first time it hosted SMB Pulse. During the sessions, Chartered Accountant Anshul Sethia from Infinity Solutions and the Country Manager of Tally solutions, Mr. Mohammed Salmaan, spoke about the daily challenges faced by businesses and how they could overcome them.
Sethia stressed about the importance of MIS reports for managerial personnel and how businesses can quickly identify work-related issues to minimize their negative impact while successfully coming up with a strategy to fix the problem. He also discussed improper outstanding, cash flow management and stock management. Sethia later touched upon the basic compliance requirements and the importance of following the same requirements for successful businesses.
As for the participants, they learned how to increase their efficiency and productivity. They were taught about the benefits of performance monitoring and how it can be used to increase profits and provide better customer services. After the sessions, the participants also took part in group discussions where they shared their solutions to various business problems and offered advice to other businesses which were facing similar troubles.
Sharjah has worked continuously to build a culture of entrepreneurship in alignment with the goals of UAE Vision 2021. The SME sector has enjoyed a huge governmental support and continues to grow in the region with significant amount of funding and backing. A lot of small and medium businesses in UAE are in the fields of real estate, tourism, manufacturing, gas, logistics, business services, education and healthcare. According to the government statistics, manufacturing is responsible for almost 19% of its GDP and is a major sector in UAE.