Sharjah 24: At this weekend’s Sharjah Entrepreneurship Festival (SEF) 2024, organised by the Sharjah Entrepreneurship Center (Sheraa), under the theme ‘Our Shared Canvas’, a panel of prominent female entrepreneurs shared their experiences and insights on global business expansion during a session ‘The Power of Going International and Thinking Global with Your Business’.
Expansion in business: How local entrepreneurs can go global
Jennifer Blandos, founder of Female Fusion, a global professional network for business women; Mariam Bin Al Shaikh, Director of the Sharjah Business Women Council (SBWC); and Natasha Hatherall Shawe, Founder of Tish Tash PR Agency in Dubai, offered a broad perspective on the subject to moderator Reim El Houni, a TV media consultant and founder or Ti22 Films.
Blandos highlighted the importance of understanding market demand for successful international expansion. “Study the market, understand the demand for your product, and establish partnerships with local organisations,” she advised, underlining the role of digital platforms in facilitating global business without the necessity of physical offices in different countries.
In contrast, Bin Alshaikh focused on the significance of community building and the support of a reliable team in different markets. “A great team is essential for success in various markets,” she said, noting the importance of a strong, value-aligned team for international expansion.
On the challenges and learning curves of operating in different countries, Shawe mentioned the variance in market strategies and the need for adaptation, saying, “Every market is different, requiring a unique approach.” Blandos shared her experiences with unforeseen challenges in various markets, while Alshaikh emphasised the importance of changing narratives and perceptions in international markets.
Technology plays a paramount role in communication and spreading team culture across different markets, the panellists agreed, especially for people-focused businesses. Blandos, whose business is tech-driven, shared her enthusiasm for digital tools that facilitate business scaling and efficiency.
Shawe reflected on her unexpected entrepreneurial journey, leading to the expansion of her PR agency across multiple countries: “I started as a freelancer, and now, 12 years later, we have offices in three countries and plans for a fourth”. Her strategy involved leveraging a mix of in-house and freelance professionals, and exploring new markets before establishing formal offices.
AI and its future impact
One of the region’s top entrepreneurs, founder of AstraTech and CEO of Botim platform, Abdallah Abu Sheikh, offered a forward-looking perspective on the evolving landscape of AI and its profound impact on technology, employment and societal norms.
Abu Sheikh steered the conversation towards the buzz around AI, drawing an interesting parallel between the DOS terminals of the past and the AI-driven technologies of today, such as ChatGPT. “Remember the (Windows) DOS terminals? We’ve come full circle back to prompt-based interaction with technology,” he noted, highlighting the cyclical nature of technological evolution.
Emphasising the shift from click-based to prompt-based interfaces, he predicts that “in the next two to three years, 99% of platforms will be prompt-based, not click-based”.
A major focus of the techpreneur’s talk was on the concept of Large Action Models (LAMs), a term he coined, describing AI systems capable of executing tasks based on user prompts. He argued that these systems would be pivotal in the near future, offering significant opportunities for smaller, local companies with access to localised data. “This is a golden opportunity to build an action model that executes tasks. Big tech companies can’t build everything,” Abu Sheikh stated, stressing the potential for innovation in this space.
Addressing the impact of AI on employment, Abu Sheikh urged the audience to consider how AI might transform their professions and the importance of adapting to the changes brought about by AI. “AI is going to make human knowledge almost obsolete in some fields. But remember, with every technological revolution, the scale of importance shifts, creating new opportunities.”
The serial entrepreneur closed his session by underscoring the potential of AI to empower individuals and small businesses, especially in regions with limited access to advanced technology. “If your grandma can use it, anybody can. That’s the kind of technology we should aim to develop,” he remarked on the importance of simplicity and accessibility in technology.
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