In order to understand the concept of successful SME growth and to discuss the strategies behind it, leading international and local business minds will converge at the Millionaire Summit scheduled from November19 to 21, 2015.

The summit will also focus on the shortcomings of the business ventures in the region and ways to counter them. Moreover, the platform will provide small- and mid-sized business owners and aspiring entrepreneurs an opportunity to network, meet valuable suppliers, negotiate and find potential investors.

Despite the fact that small and mediums enterprises form 52 per cent of private sector value and generate 67 percent of the jobs globally, most do not understand the significance of branding.

A study of SMEs in Dubai suggests that a majority of SMEs in the emirate work under the faulty concept that branding is costly which serves as deterrent in brand management. According to the research, 73 percent of SME owners do not invest on building a stronger brand, while 68 percent do not incorporate brand management into their marketing activities. Moreover, 47 percent of SMEs in Dubai do not focus on adding value for their customers or only do so intermittently.

“The power of SMEs cannot be underestimated and their significant contribution to the global economy in today’s world speaks for itself,” said Oksana Tashakova, founder of Wealth Dynamics Unlimited, organisers of the event.

 “The Summit was born because of my own frustration with the (lack of) available education in starting and building my businesses. I found that many dissatisfied employees and struggling business owners couldn’t find specific education and step-by-step actionable information either. The summit is about real business insights delivered by people with ‘in the trenches’ experience.”

Local business gurus will guide attendees on process of starting a cost-effective business in the UAE, intricacies of small business finance and the common mistakes startups do and how to avoid them. Speakers will discuss ways to maximize business strength and yield lucrative results on shoe-string budgets, convert passion into profit, the use of social media to advantage and how to attract high-paying customers, among other topics.

Few of the speakers at the Millionaire Summit include Pat Mesiti, author of How to Have a Millionaire Mindset and eight other books; Ari Galper, the authority on personal selling; Gary Lafferty, Founder of Business Mastery Blueprint and the Confusion to Clarity Map; Daven Michaels, serial entrepreneur and author of Outsource Smart; David Cavanaugh, Internet marketing guru; Darin Adams, award-winning journalist, producer and television anchor; John Dwyer, advertising guru; and Oksana Tashakova, Founder of Wealth Dynamics Unlimited.