Technology is a gamechanger for small and medium-sized enterprises in Qatar

20/04/21

A forum titled ‘Digitization of SMEs: An Alternative To Survive’ was held very recently to discuss the adoption of emerging technologies and the positive impact on more streamlined business practices and processes.

The event was organized by the Ministry of Transport & Communications (MoTC) and Hamad Bin Khalifa University (HBKU) to expand the knowledge on the emerging technologies.

These technologies included fintech, blockchain, cloud computing, internet of things and business process automation in other words technologies with a potential to contribute to a decrease in costs and complexity of procedures.

It is a consensus that these technologies will benefit small and medium-sized enterprises (SMEs), who are the backbone of a national economy, play an important role in the economic and social development of a country and face multi-dimensional challenges, especially. These issues include attracting new customers, securing finance, increasing income, decreasing expenses and processing payments among many others.

Blockchain is a key technology for payment processing. The technology relies on user consensus to confirm transactions and data cannot be changed once sent.

It provides client and customer benefits such as speed, security and protection against identity fraud. In addition, the technology provides cost savings, streamlined practices and processes as well as simplified accounting and smart contracting. Also, it enables safer, faster and easier international payments.

Cloud services are growing rapidly in Qatar`s public and private sector. It covers the delivery of services such as servers, storage, databases, networking, software and analytics over the internet (or in other words the cloud).

In 2018, Microsoft Azure, a leading provider of cloud services, established a data centre in the State of Qatar. The initiative has accelerated the availability of cloud services in the country.

The event was part of a series organized by the MoTC to encourage SMEs and their digital transformation. The series hosted more than 3895 SMEs and 67 international, regional and national ICT service providers so far.

Please click on the link and reach out to learn more about the latest developments in the State of Qatar as well as Business Start Up Qatar.

Other News

BSUQ News 113 - Thumb

SCDL announces new tenders for 2022 FIFA World Cup

A webinar hosted by the Qatar Financial Centre (QFC) and titled “Exploring Tender Opportunities at the Supreme Committee for Delivery & Legacy” discussed the potential for businesses and projects related...

Read more
BSUQ News 112 - Thumb

Qatar to award a number of large-scale projects in 2021

The State of Qatar is expected to invest more than QAR 113.15 billion (USD 31 billion) into large-scale projects this year. The estimation is in line with the country’s QAR 47.45 billion (USD 13 billion)...

Read more
BSUQ News 111 - Thumb

LNG expansion will positively affect Qatar’s economic growth

Qatar’s plans to expand the Liquefied Natural Gas (LNG) capabilities and capacities promise a major boost to the growth of the national economy. The expansion results in a projected surplus between 2021...

Read more
BSUQ News 110 - Thumb

Qatar’s economic performance improved in first quarter

Qatar’s budget for the first quarter of this year was exceeded by QAR 200 million (USD 54.8 million). The surplus is partly related to the most recent increase in the oil prices, the level of budgetary...

Read more
BSUQ News 109 - Thumb

Investments in digital sector at all-time high in Qatar

Qatar has witnessed a lot of investment in the digital sector in line with the digital transformation of the country and the establishment of a knowledge-based economy as set out in the [Qatar National...

Read more
BSUQ News 108 - Thumb - Old

Qatar prepares for additional reforms to attract more FDI

With the world’s economy coming to a near standstill in 2020, economists from around the world have shared various analyses into how national economies will perform after this impasse related to the...

Read more
BSUQ News 107 - Thumb - Old

Qatar stakeholders continue to support SMBs and SMEs

The collaboration and cooperation of the public sector and the private sector will strengthen the position of the State of Qatar as a hub for business, trade and investment in the Middle East.

The...

Read more
BSUQ News 106 - Thumb - New

Qatar issues new travel and return policy

Qatar`s Ministry of Public Health has announced a new travel and return policy that waives hotel quarantine requirements...

Read more

Page Break