Feasibility Study & Strategic Plan for a New Advisory Center in a GCC country to Support SMEs & Entrepreneurs​
BACKGROUND & OBJECTIVE
Small and Medium Enterprises (SMEs) and entrepreneurs play a pivotal role in economic development, job creation, and innovation. Recognizing the need to enhance business advisory services, an economic entity under the a GCC country sought to evaluate and design a dedicated advisory center to support business setup and growth for SMEs and entrepreneurs.​
The primary objective was to develop a feasibility study and strategic plan for the center. This included:​
- Conducting international benchmarking to align with global best practices.​
- Defining the service offerings and value proposition tailored to entrepreneurs’ needs.​
- Establishing governance and operational structures to ensure efficient service delivery.​
- Assessing financial feasibility to determine investment requirements and sustainability.​
The initiative aimed to provide a blueprint for the advisory center, ensuring that it serves as a one-stop hub for business setup, regulatory guidance, and SME support programs.​
PROJECT APPROACH​
A structured methodology was implemented to assess market demand, define service offerings, and establish an implementation roadmap. The key phases included:​
- Market Research & International Benchmarking​
- Conducted a comparative analysis of leading SME advisory centers worldwide.​
- Identified best practices in advisory services, governance, and business incubation models.​
- Service Offering Definition & Value Proposition Development​
- Mapped out key advisory services required for SMEs, including business setup, funding access, regulatory support, and digital transformation advisory.​
- Defined a clear value proposition to differentiate the center from existing support programs.​
- Governance & Operational Model Design​
- Established standard operating procedures (SOPs) for service delivery.​
- Developed a structured governance model, ensuring alignment with Dubai’s economic policies.​
- Financial Feasibility Study & Business Case Development​
- Conducted financial modeling to estimate investment costs, operational expenses, and revenue potential.​
- Assessed funding sources, including public-private partnerships (PPPs).​
- Stakeholder Engagement & Concept Validation​
- Conducted interviews and surveys with key stakeholders, including entrepreneurs, investors, and government officials.​
- Refined the strategic plan based on stakeholder insights.
OUR METHODOLOGY
The study was conducted using a data-driven approach, integrating qualitative and quantitative insights:​
- International Benchmarking & Concept Design
- ​Reviewed global best practices in SME advisory services.​
- Created a concept framework to structure service offerings.​
- Surveys & Stakeholder Interviews
- ​Engaged with entrepreneurs, SMEs, and business support organizations.​
- Identified key challenges and advisory service needs.​
- Service Offering Definition & Strategic Positioning
- ​Developed a comprehensive advisory service catalog.​
- Aligned services with market demand and regulatory requirements.​
- Financial Feasibility & Business Modeling
- ​Estimated cost structures, operational sustainability, and potential revenue streams.​
- Created an investment roadmap and risk assessment framework.​
- Implementation Planning & Governance Framework
- ​Designed an organizational blueprint for governance and operational management.​
- Developed an execution roadmap with key milestones.
THE RESULTS
The project delivered a structured feasibility study and strategic roadmap, leading to:​
- Concept Design of the Advisory Center:​
- Developed a detailed blueprint aligning with international best practices.​
- Comprehensive Understanding of Stakeholder Needs:​
- Identified internal and external stakeholder requirements to refine service offerings.​
- Defined Advisory Service Offerings & Competitive Features:​
- Developed a service catalog including regulatory guidance, business incubation, digital transformation support, and financial advisory services.​
By leveraging global best practices and aligning with Dubai’s economic vision, the initiative laid the foundation for a high-impact advisory center, ensuring sustainable business growth and increased SME participation in the economy.​
