He was delivering the key note address on - Seminar on SME challenges, organised by the Kerala
Chamber of Commerce and Industry at Kochi
here on Monday (January 10).
Dr Rashid explained that the main challenges in front of small scale- medium enterprises are – clarify strategy, sustainability, protect and grow customer loyalty, tightly manage cash flows and liquidity and low levels of research and development.
“SMEs are essential for creating large businesses. It fits well into the industrial concept of co-ordination, integration and multi-disciplinary approach in the deployment of total business solutions. Educate SMEs and try to learn new innovations that are happening in and around us.
Besides, when you design a product think about the new generation,” Dr Rashid added.
Meanwhile Dr Rashid stated that the Hamriyah Free Zone now has become a home for SMEs.
“At present around 5,000 companies are working in Hamriyah Free Zone Authority. What we offer is 100 per cent tax free environment, company ownership, exemption from all commercial levies and repatriation of capital and profits.”
Earlier, Kerala Chamber chairman Deepak Aswani welcomed the gathering.