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Posted On: 29 May 2013 07:09 pm
Updated On: 12 November 2020 02:13 pm

EQ and SDC sign memorandum

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Enterprise Qatar (EQ), an arm of the Ministry of Business and Trade dedicated to promote small businesses, and Social Development Center (SDC), a member of Qatar Foundation, yesterday signed a Memorandum of Understanding (MoU) to strengthen and support micro enterprises in Qatar. Under the agreement, a joint EQ-SDC team will also be formed to conduct a comprehensive research study to help micro businesses in joining the Small and Medium Enterprises (SMEs) sector. The MoU was signed by Noora Al Mannai, CEO of EQ, and Amal Al Mannai, Managing Director of SDC. The initiative sets out a process that will commence with a detailed assessment and lead to a National Strategy for micro enterprises that will improve and increase the services currently provided to micro enterprises. Activities will include the development of databases, situational evaluation and follow-up systems that will assist Micro Enterprises grow to enter the SMEs sector in accordance with the Qatar National Vision 2030. The partnership will see the creation of a project team with staff from both the organisations. The scope of work will begin with an assessment of the micro enterprises sector and the creation of a comprehensive database. A baseline report on the current situation will be published, followed by the setting of clear goals and creation a national strategy. Al Mannai said that the partnership with SDC would provide for the sharing of expertise and know-how, and result in better services and a more supportive environment for micro enterprises. The impact of the memorandum is expected to be far reaching. The 2010 census, carried out by the Qatar Statistics Authority, revealed that 50 percent of enterprises in Qatar employ between one and four persons and can be classified as micro. Source : Qatar Chronicle