Hard work, smart thinking best ways to achieve success in business

Winners at the fourth edition of the Bahrain Award for Entrepreneurship have lauded the opportunities generated by Bahrain’s commitment to the development of the domestic start-up economy.

On Tuesday, eight laureates were recognized at a ceremony held under the auspices of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and Chairman of the Economic Development Board, and organized by Bahrain’s Labor Fund (Tamkeen).

During the ceremony, HRH the Crown Prince highlighted Bahrain's outstanding success in advancing entrepreneurship across all sectors and stressed that that the continual development of the domestic start-up economy reflects the Kingdom’s efforts to nurture a business environment that fosters creativity, stimulates innovation and contributes to sustainable economic growth, in line with the objectives of the Kingdom’s comprehensive development led by HM King Hamad bin Isa Al Khalifa.

Supporting entrepreneurship lies at the heart of the Kingdom’s strategies to further enhance economic performance and global competitiveness, underpinned by the Bahrain Economic Vision 2030’s principles of sustainability, competitiveness and fairness, he emphasized.

HRH the Crown Prince noted that Bahrain’s start-up sector has emerged as a model for entrepreneurship internationally, pioneering innovative solutions and driving sustainable development.

“We are deeply grateful to HRH the Crown Prince for his trust in our capabilities and aptitudes,” Mohamed Abdulaal, owner of All Food for Food Stuff, who won the for Sustainability in Business Award.

“This is the second time that we win and this latest impetus will deepen our commitment to contributing more to the growth of the Bahraini economy. It is a great honor that generates a greater sense of responsibility towards Bahrain, those who recognized our merits and those who trust us,” he said.

Outstanding successes do not come easy and people, particularly young entrepreneurs, should not be daunted by any hurdle or slowed down by the fear of stumbling, he added.

“It is not the perfect world, but we can all work to make it as close to perfection as possible. We need the right approach to achieve our worthwhile goals. Through hard work, we can aspire to advance, but if we combine focused hard work with smart thinking and strong determination, we can succeed,” he said.

“One crucial component of the success of entrepreneurship in Bahrain is the fact that the leadership fully embraces innovative entrepreneurial projects and recognizes success.”

Other winners also expressed gratitude for the opportunities to go ahead with their ambitions and achieve local, regional and international successes. They also stressed the importance for young entrepreneurs to be bold enough to aim higher and to move forward towards areas that nobody or very few had dared to reach.

In his speech at the ceremony, Shaikh Mohammed bin Isa Al Khalifa, the Chairman of Tamkeen, said that “the prestigious award is at the forefront of high-profile initiatives aimed at creating a fertile environment for entrepreneurs and institutions to enrich the Kingdom's economic development.”

“Tamkeen is ready to further contribute to the development of the start-up sector through numerous initiatives aimed at assisting entrepreneurs at every stage of their business journey, which stems from Tamkeen's vision to enhance the role of the private sector in the Kingdom of Bahrain.”

The fourth edition also included two new categories. The Lifetime Achievement Award, aimed at honoring pioneering personalities in the development of the national economy and The Global Enterprise of the Year, aimed at recognizing the role of international Bahraini enterprises that showcase Bahraini culture in their business activities.

More than 180 entrepreneurs had applied for the fourth edition of the Bahrain Award for Entrepreneurship, which reflects the rapid growth of the start-up sector in the Kingdom.

The organizing committee selected 35 for the semi-finals and 21 for the final phase.

Winners of the Bahrain Entrepreneurship Award each receive a cash reward and are offered multiple training and development opportunities, overseen by international organisations such as the United Nations Industrial Development Organization (UNIDO).