Experts foreseeing the future of entrepreneurship in light of the digital economy after Corona
“Competition”, “finance” and “hackers” are the main challenges of e-commerce
E-marketing needs large funds and software. Getty
Sanad Al-Muqbali: “The digital economy is one of the important solutions that cannot be dispensed with in services and trade.”
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Digital economy officials and experts outlined the main challenges facing entrepreneurs in the digital economy and e-commerce.
They clarified during the conference “Foreseeing the future of entrepreneurship in light of the digital economy after the Corona pandemic”, organized by the Emirati Entrepreneurs Association, in cooperation with the Kuwait Development Entrepreneurship Association, yesterday, that the most prominent challenges are: intense competition, financing, and "hackers", as well. On the global slowdown of the economy, and the continuation of the "Covid-19" pandemic.
Multiple challenges
The consultant for entrepreneurship in the UAE, Dr. Abdul Latif Al-Azazi, said that there are several challenges facing small and medium-sized companies and entrepreneurs in the digital economy and e-commerce, most notably the intense competition with local and international companies, and the need for large funds in order to move to e-marketing and buy huge software, and expand in "Servers", as well as the need to keep pace with the extremely rapid technological progress.
Al-Azazi also referred to the issue of cybersecurity, and the "hackers" infiltrated the electronic platforms, with the aim of exploiting credit card data.
Legal advice
In turn, a member of the International Council for Small Enterprises, Lawyer Areej Abdul Rahman Hamadeh, advised entrepreneurs in the UAE and the Gulf in general to pay attention to legal issues, and the need to conclude clear contracts with consumers that clearly include responsibilities and obligations, and mention the policies of websites and electronic applications in detail with terms and conditions, to maintain dealers and support Their confidence, and not to enter into legal disputes.
And it considered that commercial arbitration is better than the regular judiciary for small enterprises, because it takes much less time, and the arbitrator is specialized in certain areas that make it more understanding of entrepreneurs.
And it demanded that transaction details be written in the invoices clearly, including details of shipping funds, taxes and fees, and attention to business insurance to protect against losses, and not to put any pictures or logos that follow other companies to avoid legal disputes.
It also called on entrepreneurs to take advantage of the important international agreements concluded by the Gulf states with major countries to exempt from duties and taxes.
Digital economy
In addition, the head of the Emirati Entrepreneurs Association, Sanad Al-Muqbali, said that implementing the digital economy has become an inevitable and indispensable matter in the future, pointing out that the Corona pandemic showed that the digital economy is one of the important solutions that cannot be dispensed with in providing services and trade.
He continued, "We do not lack anything in the UAE and the Gulf in general, to be proactive in implementing the digital economy, through the availability of infrastructure, legislation and laws that support investors."
In the same context, the Director of the Marketing and Activities Center at the National Fund for Small and Medium Enterprises Development in Kuwait, Mohammed Al-Bahrani, stressed the importance of entrepreneurs adapting to the new changes, and preparing themselves for the digital economy and online shopping.
He said that the digital economy provides new opportunities for entrepreneurs that must be exploited, especially with the presence of 40 electronic shopping tools.
He mentioned several advantages of online shopping, the most important of which is that it is less expensive than traditional shopping, as well as directly measuring consumer satisfaction, and facilitating remote communication.
Intellectual property
Ibrahim Ali Al-Tamimi, Director of Information at the Prime Minister’s Office and Director of the Bahrain Program for Government Best Practices, called on entrepreneurs to register their companies ’logo in intellectual property and promote it, to protect their companies from any exploitation by competitors or cybercriminals.
Al-Tamimi warned against "data laundering" operations due to the leniency in its circulation and the lack of controls over it. He called for expanding applications to include various fields of knowledge economy, and not focusing on specific applications such as food applications.
In turn, the Director of the Office of the Financial and Economic Committee in Kuwait, Hala Al-Hamidi, said that companies that adopt the digital economy and e-commerce have been more successful in adapting to the conditions imposed by the pandemic than companies that adopt traditional trade, noting that e-commerce companies are vulnerable to faltering while The pandemic, and the exceptional circumstances it imposed.
The economy is slowing
The expert on e-government and information crime, Dr. Obaid Saleh Al-Mukhten, reviewed a number of challenges, the most important of which are the global slowdown of the economy, the instability of oil prices, and the continuation of the Corona pandemic, which requires privacy, data governance, and the lack of access by others.
Federal umbrella
Azza Soliman, director of the National Program for Small and Medium Enterprises and Enterprises at the Ministry of Economy, said that the program is the federal umbrella that includes financing programs and institutions in the country, noting that the Small Enterprises Council will have a greater role in activating the Small Projects Law.