Monsha’at and UBT list SME consultants

The four-day program included 25 delegates from Riyadh, Jeddah, Dammam, Madinah, Yanbu and Jazan.
Updated 15 April 2018
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Monsha’at and UBT list SME consultants

The Small and Medium Enterprises General Authority (Monsha’at) partnered with the University of Business and Technology (UBT) in Jeddah to certify accredited small and medium enterprise consultants in line with Vision 2030.

Organized by UBT Continuing Education Center (CEC), and delivered by Dr. Richard Weinberger, CEO of the Association of Accredited Small Business Consultants (AASBC) based in the US, the four-day program included 25 delegates from the cities of Riyadh, Jeddah, Dammam, Madinah, Yanbu and Jazan.

The professional training program covered 15 themes. They were small business and SME today; general financial statement review; revenue and expense review; asset and liability review; ratio analysis, SWOT analysis; operations management; strategic planning; budgets and forecasts; internal controls; marketing and branding; business organizations; financing; risk assessment and fraud deterrence; and marketing consulting practice.

In addition to the membership benefits of AASBC, the delegates who passed the online certification exam with success the certification exam online were awarded the title Accredited SME Consultant.

UBT CEC Director Dr. Amir Dhia said that the program, which was subsidized by Monsha’at, included a rich and diverse group of practitioners from the sectors of banking, finance, entrepreneurs, CEOs, and business consultants. 

Small and medium enterprises contribute only 20 percent to the GDP in the Kingdom compared to 70 percent of some economies. Despite the efforts to improve the quality of the business environment, small enterprises in the Kingdom continue to suffer from a complexity of regulatory and administrative procedures, slow capacity, poor capacity to attract talents, and difficulty in obtaining funding.  The proportion of funding for small and medium enterprises is only five percent of the total funding, which is a small proportion compared to global rates. 

The Monsha’at aims to develop, enable, and advocate for SMEs to thrive, in collaboration with strategic partners in the public, private and non-profit sectors.


Ascott spearheads Saudi recruitment drive

Updated 18 June 2019
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Ascott spearheads Saudi recruitment drive

The Ascott Limited is developing its training program across the group’s properties in Jeddah, whereby high-achieving Saudi nationals are trained in the array of skills needed to succeed in top managerial positions within the Kingdom’s burgeoning hospitality sector. 

To be eligible to join Ascott’s Saudi Graduate Program, Saudi graduates must have at least a bachelor’s degree with honors and be willing to learn and develop their career within an international group. The program comprises theory and practical training across all departments and is followed by overseas training in one of Ascott’s properties.

“We’re in the midst of an exciting period of growth in Saudi Arabia,” said Vincent Miccolis, Ascott’s regional GM for the Middle East, Africa, Turkey and India. “The Kingdom’s tourism industry is growing at an exponential rate and is creating many new jobs within the hospitality sector. We launched Ascott’s Saudi Graduate Program in line with the Saudi Commission for Tourism and National Heritage to promote, nurture and develop this valuable homegrown pool of young talent and offer successful individuals a dynamic career path within the Ascott group.

“In just a short amount of time the program has made a significant impact. Our turnover ratio of Saudi colleagues has fallen from 58 percent in 2016 to less than 15 percent to date in 2019; staff loyalty has been positively affected and guest satisfaction levels have increased. What’s more, Ascott Sari Jeddah was recently named as Saudi Arabia’s Leading Serviced Apartments 2019 for the second consecutive year in the annual World Travel Awards.

“We are also proud to announce that one of our current trainees who will shortly take on the running of a property, is female. A key element of Saudi Vision 2030 is job diversification and women’s access to the employment market, and at Ascott we are committed to playing an active role in making this a reality,” added Miccolis.

From on-the-job training in housekeeping, handling reservations, checking-in and checking-out procedures and managing VIP guests, Ascott’s graduates must master the day-to-day facets of how to run an international-standard serviced residence, in addition to behind-the-scenes essentials such as HR, sales and marketing, finance and procurement. 

While the Saudi Graduate Program is currently available only within Ascott’s Jeddah cluster of properties, plans are in the pipeline to roll out the scheme to all of the group’s residences in the Kingdom, including Riyadh, Alkhobar and Abha.

Ascott’s Jeddah properties include Ascott Tahlia Jeddah, Ascott Sari Jeddah, Citadines Al-Salamah Jeddah and Spectrums Residence Jeddah.

The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. It has more than 58,000 operating units in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as over 42,000 units, which are under development, making a total of more than 100,000 units in over 660 properties.