Gulf University for Science and Technology Sponsors “Small Businesses – Future and Ambition” Forum

GUST President Donald Bates Gives his Opening Speech

Kuwait City, 22/2/2015 – Gulf University for Science Technology (GUST) hosted a forum for its students entitled “Small Businesses – Future and Ambition”, whose goal is to encourage Kuwait’s youth to contribute to energizing the local economy. The event gathered a number of esteemed leaders of industry from various sectors as well as notable ministers whose functions help and support the emergence of small and medium-sized enterprises (SMEs) as speakers. This provided students with valuable knowledge and expertise relating to starting one’s own business. The forum served as a link opening a direct channel of communication between the youth, and with established members of the business community, as well as those in high office in order to learn from their experiences.

Topics discussed at the forum included the importance of engaging with and establishing SMEs, explaining local laws and regulations governing them, and possible investment opportunities. Furthermore, guest speakers also spoke in depth of the various channels available to finance one’s emerging business.

The timing of the forum is especially poignant as Kuwait begins to lay the groundwork to further encourage the growth of SMEs in order to invigorate the economy. This is especially noteworthy as the latest global polls show that small and medium-sized enterprises (SMEs) now make up 95% of the world’s companies and employ 80% of the world’s employable workforce.

Present at the event were a number of illustrious figures including leaders of enterprise and ministers, such as H.E. Sh. Alzain Al Sabah – Undersecretary Minister of State for Youth Affairs, Dr. Bader Al Essa – Minister of Education and Higher Education, Mr. Khaleefa Hamada – Undersecretary of Finance, Mr. Dawood Al Sabej – Assistant Undersecretary of Commerce, and Assistant Undersecretary of Higher Education, Mr. Ali Moussa – Chairman of the Commercial Bank of Kuwait, Mr. Faris Al Enezi – Manager of the SME Department at the Manpower and Government Restructuring Programme, Mr. Dawood Marafie – board member at the National Fund for the Development of SMEs, and Mr. Jamal Al Dossari – GM at the General Institute for Manpower.

Dr. Donald Bates, Gust President, said, “We are honoured to have such important business personalities and high profile ministers come share their experiences with our students and to shed light on topics close to our students’ hearts and minds. With this in mind, GUST was adamant in sponsoring this forum for its students in order to provide them with the necessary knowledge and tools they need to establish their own enterprise, and to open the right doors for them to begin their endeavour.”

The forum itself was very well received and produced a strong showing of students from a spectrum of various majors and ages – proof that the topic of SMEs is a subject they consider as integral to their futures.

Business Major student, Sanaa Qaisar, “I am so grateful to have had the opportunity to listen and participate in this forum. Having heard our guests speak so knowledgably and encouragingly, I will begin to look more seriously at businesses I would like to start after graduating”.