The high profile “2nd Global Franchise & SME Exposition and Forum” in Bahrain was conducted and organized by Middle East & North Africa Franchise Association (MENAFA), which is the membership organization of franchisors, franchisees, SMEs and services providers in the region of MENA.
This Association, which is global in nature, consists of industry association serving USD 30 billion franchise sector growing at an unprecedented rate of over 25% annually in the MENA region.
The Global Franchise and SME Exposition and Forum promotes economic, business and commercial growth, advancement and expansion, with particular focus on SMEs and franchises, regionally and globally.
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| Sheikh Hisham bin Abdul Al-Khalifa, Governor of Capital Governorate of the Kingdom of Bahrain and the Chairman of Middle East & North Africa Franchise Association (MENAFA) presenting a token of appreciation to Dr. Mendis |
The forum selects, each year, a couple of personalities with extensive and expansive experience and exposure in the realm of SMEs, Franchises, Entrepreneurship Development and geo-economic issues to deliver the key-note addresses at the Opening Ceremony of the Global Franchise and SME Exposition and Forum.
The forum organizers have invited Dr. A. Saj U. Mendis, Ambassador of Sri Lanka to the Kingdom of Bahrain and Dr. Ahmed Al Saloom, Chairman of Bahrain Development of Small and Medium Enterprises Society, respectively. A large number of select invitees were present including secretaries and senior officials of ministries, senior bureaucrats and technocrats, Ambassadors and diplomats based in Bahrain, corporate executives and captains, leading franchises, presidents and board members of SME and entrepreneur associations in the region and academia, among others. The chief guest of this prestigious forum was the Governor of Capital Governorate of the Kingdom of Bahrain.
The Chairman of Middle East & North Africa Franchise Association (MENAFA), in his opening remarks, underscored and underlined that the Bahrain Franchise and Exposition presents a unique market place for the growing Franchise and Small and Medium Entrepreneurs (SMEs) to become mid-level to large corporates and entities and then to transcend to regional and global players on the economic and commercial landscape of the region as well as the world.
The Chairman further added that this Forum would extend exhibitors with the opportunities to showcase and profile their brands, products and services in a professionally organized and structured environment with a highly targeted audience of potential buyers, investors, franchisees, entrepreneurs and industry professionals to establish and to forge partnerships and generate new business and commercial ventures.
Both the Key-note speakers i.e. Dr. Saj Mendis and Dr. Ahmed Al Saloom, highlighted the vitality and seminality of the SME and entrepreneurial sector to any country, be it a developed nation or a developing nation. Ambassador Dr. Mendis, in his address, stated that the Government of Sri Lanka is extending increasing degree of importance and conspicuity to the SME and entrepreneurship sector as well as to entrepreneurship development.
This is particularly because a vibrant and strong SME sector coupled with entrepreneurship development could fuel economic, business, investment and commercial advancement and augmentation. Further, both the speakers added that the SME sector is often referred and defined as the pillar of any given economy. However, the critical role played by the SME sector has not been extended due distinction and significance opposed to “Fortune 500” companies and other large multi-national corporates. Dr. Mendis stressed that the development of SME sector could reduce unemployment and inequality and engender innovative ideas, creativity, innovation, economic dynamism and entrepreneurship, thus unleashing the entrepreneurial capabilities and unlocking the dormant potential. He also stated that the Government Policy Framework fosters and nurtures micro-enterprises to become small enterprises to become mid-size enterprises to large enterprises to national players and regional players respectively.
In the context of Franchises, both the key-note speakers impressed and accentuate the fact that any given SME can become a large corporate or global entity by growing organically, through acquisitions, placing Initial Public Offerings (IPOs) or extending franchises or a combination of any of the above. Dr. Mendis said that some of the iconic brands such as Hilton, McDonalds, Body Shop, Taco Bell, Hard Rock Café, Pizza Hut and Marriot Hotels, to name a few,have all begun in a humble and modest manner and today they have evolved as corporate behemoths and household names. One of their telling alchemies of success was the strategy of franchising, he added. Both the speakers punctuated that one of the distinct advantages of franchising is that the respective companies would be known not only nationally or regionally but globally as well. In this regard, it is critical for the respective company to have a stellar and highly marketable and demanded line of products and services to transcend to the sphere of franchising. Further, the officials of Global Franchise and SME Exposition and Forum expressed keenness and eagerness to foster and to nurture the concept of franchising and development of SMEs, particularly, with developing nations such as Sri Lanka.
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