Alchemy launches ME operations
Dubai, October 2, 2011
The Alchemy Network (Alchemy), an international business advisory franchise, has announced the launch of its regional operations from its new office in the UAE.
The office represents the latest international market that Alchemy has established operations within since its launch in 2007, complementing its existing operations across Europe, North America and Australia, said a senior official.
Simon Hodges, CEO of the Alchemy Network Middle East, said the company will support and develop small and medium sized businesses in the emirates. 'The UAE offers considerable opportunities for Alchemy,' he noted.
'Despite the dramatic economic growth the country has seen over the past decade, SMEs represent only about 30 per cent of national GDP. This compares to 60 per cent in other emerging and developed economies,' he added.
Drawing upon its global expertise Alchemy is seeking to develop a network of senior consultants who will operate under the Alchemy licence.
Each consultant will work within the SME sector across the Emirates to help smaller businesses to unlock their full potential, said Hodges.
He pointed out that the UAE had traditionally been particularly supportive of SMEs and subsequently created one of the most forward thinking frameworks for small businesses in the region.
'It is therefore better placed to understand, appreciate and adopt new opportunities and new ideas than some other markets. This makes the UAE an ideal choice for Alchemy, providing it with an excellent platform from which to launch and expand its regional operations,” he noted.
However, he said, despite the significant creative energy that existed in the country, SMEs faced a broad range of challenges.
'The opportunity for Alchemy is that many small businesses do not have access to the right advisory support to help them maximise their potential and this is where we are able to help.”
The Alchemy Network, said Hodges, will adopt a unique and unrivalled operational model whereby it will form partnerships with an SME, taking a stake in the business and helping it to perform better, more effectively and more profitably than before.
“Our main priority in the short term is to establish our credentials amongst key stakeholders, to educate and build awareness of who we are and what we can achieve within the business community,' he stated.
David Abingdon, chairman and founder of The Alchemy Network said, “I am excited about the potential for business growth in the region.'
'Long term prosperity requires the creation of millions of jobs and the development of a vibrant and successful SME sector is a vital element to the achievement of this objective,' he added.-TradeArabia News Service