KFED trains 1,260 entrepreneurs through 15 free virtual training courses in April 2020

The Khalifa Fund for Enterprise Development (KFED) announced that it has successfully conducted 15 specialized, free virtual training courses, for 1,260 Emirati male and female participants in April 2020. The initiative that benefitted a record number of participants falls in line with the Fund’s efforts to spread the culture of entrepreneurship and enable the owners of small and medium-sized enterprises (SMEs).  The number of participants who attended the courses grew from 92 in March to 1,260 in April, reflecting an overwhelming response to the initiative from the targeted segments.

The latest achievement highlights KFED’s commitment to enabling and creating more awareness among  a considerable number of male and female entrepreneurs and SME-owners  in order to enhance their capabilities in light of the challenges brought about  by the coronavirus disease (COVID-19) pandemic and its impact on the business sector in general.

The virtual  training courses organized by KFED in  April 2020 focused on some important specialized topics,  such as insights on how to establish an investment business model for projects and prepare an integrated action plan, in addition to courses on how   to generate simple financial ideas. The courses further highlighted the importance of early response to crisis and the impact of social media on the success of projects and introduced the participants to the basics of e-commerce as a business model.

H.E. Mohammad Ali Al Shorafa, Chairman of KFED, emphasized the Fund’s commitment  to consolidate its role and position as a leading organization which promotes the culture of  entrepreneurship and empowerment of small and medium-sized enterprises, particularly in light of the current conditions where the spread of the COVID-19 pandemic requires innovative ways and means to ensure the provision of services and continue to encourage potential entrepreneurs in the UAE.

H.E. Al Shorafa further added that a high demand for virtual training courses, in light of the COVID-19 situation facilitated KFED’s success in implementing the training and qualification program. The free remote training sessions witnessed an unexpected large turnout, which encouraged concerned authorities to continue their efforts to spread the culture of entrepreneurship. The initiative provided project owners with an opportunity to enhance their knowledge and capabilities, thereby enabling them to manage their projects according to the best international standards and practices.

H.E. stated that the Fund intends to continue implementing new training programs that cater to the requirements of the knowledge economy, and  add value to the SME- sector, driven by its success during the past years in qualifying entrepreneurs; enhancing their expertise and knowledge; and refining their capabilities in project management.

H.E. the Chairman further pointed out that the Fund is currently working to address the economic and social impact of the COVID-19 pandemic at the local and global levels through innovative approaches and strategies. This includes provision of a its financial support, consultation, training and other services that would boost economic activities of the SME sector, considering their significance in Abu Dhabi’s economic development plans.