A key forum for entrepreneurs in Bahrain probed the challenges and opportunities associated with scaling up and expanding businesses.

The event, by KPMG Fakhro, featured talks from a number of successful speakers from the Bahrain business world, subject matter experts and KPMG experts, said a report in the Gulf Daily News (GDN), our sister publication.

“We are delighted to provide a forum for entrepreneurs to learn from experienced, knowledgeable business leaders and it has been a great event,” KPMG Fakhro managing partner Jamal Fakhro said.

“The key theme throughout the day was how to grow and expand businesses and getting insight and best practice from those who have achieved considerable success by doing this, is incredibly valuable,” he added.

The event featured a number of sessions, taking participants through the journey of identifying the need for growth, building a professional team, scaling up and expanding.

“Understanding the different stages in the life cycle of a company '“ from a small start-up to a mature organisation, is essential for entrepreneurs,” KPMG Fakhro partner and MESA head of family business and private enterprises Harish Gopinath said.

“During the start-up and growth phase, the entrepreneur takes up several roles and he micro-manages his business.

“However, as the organisation grows, he needs to change his mindset and have a proper structure in place, identifying ways to step back, delegate and build the right team.

“Through the sessions at the event, we have been able to give practical guidance to help the successful business men and women of tomorrow do this,” he added.

“Entrepreneurs create their own career path by delivering something new, or the same products and services to niche markets in a better way,” Intellect Resource Management managing partner Sabah Almoayyed said.

“In order to be successful and grow, they need to understand growth models and strategies, and develop a skilled and motivated team to help them standardise their offerings.

“This helps them to become more efficient and profitable, looking outside their boundaries and developing organisational structure, teams and systems that will achieve their goals and manage any crisis or turbulent times.

“The forum today has shed more light on all aspects related to entrepreneurs, businesses, challenges, success factors, strategies and results.”

The event is an initiative of KPMG's entrepreneurship forum - a group set up to facilitate development for entrepreneurs and start-up businesses by providing ongoing coaching and guidance.

The forum was launched in January this year and, since then, has grown to more 70 members.

To support the work of the forum, an advisory committee has also been set up with representatives from Bahrain Development Bank, Tamkeen, Tenmou, entrepreneurs and senior KPMG staff. - TradeArabia News Service