If you’ve ever tried managing business finances armed with nothing but Google, a calculator, and a triple-shot espresso… you’re not alone. Financial management for SMEs can feel like trying to solve a Rubik’s cube blindfolded—while it’s on fire. But good news! Ras Al Khaimah Economic Zone (RAKEZ) just hosted a knowledge-packed, jargon-free, actually helpful session that turned money stress into money smarts.
Enter: ‘Mastering Financial Management: Smart Money Strategies for SMEs’, the latest in RAKEZ’s series of “we got your back” knowledge-sharing sessions. Held at the effortlessly cool Compass Coworking Centre (where the coffee is strong and the ideas stronger), this session brought together a brainy bunch of entrepreneurs and financial decision-makers, all ready to level up their money game.
Let’s be real—financial planning isn’t exactly a Friday night thrill. But this wasn’t your average snooze-fest seminar with spreadsheets and soul-sucking stats. Nope. This one hit different.
Breaking Down the Money Maze
Led by financial powerhouses Dr. Alida Helena Scholtz (RAKEZ’s Chief Financial Officer) and Reem Abushama (tax consultant and all-around financial fairy godmother), the session tackled the tricky stuff that most SMEs like to avoid until it’s too late. We’re talking:
- Budgeting without crying
- Reading financial metrics without needing a PhD
- Making your cash flow more “go” and less “uh-oh”
- Trimming costs without sacrificing quality (or sanity)
It was like decoding the secret language of money—but with a helpful guide and zero condescension. Attendees left with real, tangible strategies to save smarter, forecast better, and make decisions based on data—not vibes.
Beyond the Balance Sheet
But this wasn’t just a money makeover. It was a full-on mindset shift. The session emphasized how mentorship, agility, and continuous learning are what separate surviving SMEs from thriving ones. And honestly? That message hit home.
Because let’s face it—running a business is basically spinning 17 plates while riding a unicycle through a hurricane. Having the right financial tools (and knowing how to use them) can be the difference between burning out and bossing up.
A Community That’s Got You Covered
RAKEZ CEO Ramy Jallad put it best:
“For any SME, financial literacy is not just a skill—it’s a strategic advantage. At RAKEZ, we’re proud to support the SMEs that contribute up to 63.5% to the UAE’s non-oil economy, with SMEs making up the majority of our +30,000 business community. It is forecast that there will be 1 million SMEs in the UAE by 2030, and we are committed to playing an active role in this growth. That’s why we’ve built a vibrant ecosystem that goes beyond set-up—offering expert-led seminars, hands-on workshops, and networking events that help entrepreneurs connect, exchange ideas, and find practical solutions to grow and thrive. Our efforts are fully aligned with the UAE’s vision to strengthen the SME sector as a key pillar of long-term economic sustainability.”
Preach. With SMEs contributing a whopping 63.5% to the UAE’s non-oil economy, RAKEZ isn’t just watching from the sidelines. They’re actively building an ecosystem where entrepreneurs don’t just start businesses—they scale them, sustain them, and sometimes even supercharge them.
And with over 30,000 businesses under its wing (and a forecasted 1 million SMEs in the UAE by 2030), RAKEZ is clearly in it for the long haul. Through sessions like this, they’re proving that support doesn’t end after the trade license is issued—it’s just the beginning.
If you’re an SME trying to make cents of your finances, RAKEZ is the place to be. Coffee, community, and clarity—it’s all happening. So next time you see a RAKEZ event pop up, grab a seat. Your future self (and your accountant) will thank you.
