What Do CFOs Know That You Don’t?
At Compass Coworking Centre in Ras Al Khaimah, something more valuable than just business cards was exchanged—knowledge. In a recent session titled ‘Mastering Financial Management: Smart Money Strategies for SMEs’, entrepreneurs and financial leaders gathered under one roof to unpack the financial challenges that many growing businesses face but rarely talk about.
Hosted by Ras Al Khaimah Economic Zone (RAKEZ), the event wasn’t your typical lecture. It was a lively, interactive knowledge-sharing experience designed to empower business owners with practical tools and insights. From how to create a realistic budget to decoding financial metrics that truly matter, the session zeroed in on the core issues that often get overlooked in the daily hustle of running a business.
The audience, which included startup founders, SME owners, and financial decision-makers, took part in expert-led discussions that translated complex financial jargon into clear, actionable advice. The goal? To help SMEs strengthen their financial foundations and prepare for long-term sustainability.
Key topics included building cash flow resilience, reducing costs without hurting performance, and adapting budgets in response to market shifts. Attendees left with a toolkit of strategies to better control spending and ground their forecasts in real data—not guesswork.
The session was led by two financial heavyweights: Dr. Alida Helena Scholtz, Chief Financial Officer at RAKEZ, and Reem Abushama, an experienced tax consultant. Together, they emphasised the importance of mentorship and agile financial planning in today’s unpredictable business landscape.
Speaking about the initiative, RAKEZ Group CEO Ramy Jallad explained why financial literacy should be front and centre for any business owner. “For any SME, financial literacy is not just a skill—it’s a strategic advantage,” he said. “At RAKEZ, we’re proud to support the SMEs that contribute up to 63.5 percent to the UAE’s non-oil economy. They form the majority of our +30,000-strong business community.”
Jallad also pointed out that by 2030, the UAE is expected to host 1 million SMEs—highlighting just how critical it is to support these businesses not just at the setup stage, but throughout their growth journey.
That’s exactly what RAKEZ aims to do. Beyond offering licenses and office spaces, RAKEZ has built an ecosystem that prioritises growth through hands-on workshops, expert seminars, and networking events. “It’s about helping entrepreneurs connect, share ideas, and solve real challenges together,” Jallad added. “This is how we contribute to the UAE’s long-term economic sustainability—by empowering the SME sector to thrive.”
For any SME wondering what financial resilience looks like in practice, RAKEZ’s latest session offered a clear blueprint—and a reminder that no business grows alone.
