An SME helping other SMEs grow and develop – The Beehive story

Gulf Capital SME Insights Strategic Partner

Through the Gulf Capital SME Insights hub, we look for and highlight the success stories of GCC based SMEs that have achieved sustained growth and continue to set new standards that can help inspire other entrepreneurs and SME business owners to chart their own success stories.

In this feature, we speak to Craig Dean Moore, CEO at Beehive, a two-time winner at the Gulf Capital SME Awards turned strategic partner, as he shares his insights into their growth story.

What motivated you to start your company?
I’ve been a regular visitor to Dubai for many years and I became aware that SMEs in this region experience the same challenges as those in the UK. SMEs are critical to the growth of this economy yet they can face many hurdles when trying to obtain reasonable credit terms on their finance agreements.

I had been actively investing in Peer-to-Peer finance (P2P) whilst researching the concept, and considering the funding gap of $260bn in the region; the UAE seemed the right market to launch the Beehive platform. Businesses are in need of low cost, faster funding and there is certainly an investor appetite to invest in strong, UAE based businesses and make attractive returns.

How does your company develop talent?
The team is a critical element of any successful business. Without a motivated team, it won’t be possible to actually execute any of the plans that you have set out. We try to operate a very open and innovative culture and I think it’s important to ensure that employees feel empowered to do their jobs and that their ideas are valued by senior management. We expect all staff to readily volunteer ideas and creative solutions as to how we can make the business and the workplace better. I want enthusiastic and engaged team members but it is also a responsibility of the leadership team to communicate the business vision, goals, and the progress made to ensure that staff stay motivated and feel like they are a part of the journey.

Good communication ensures that the team connects with the business and feels part of the journey. Having said that, the start-up environment isn’t for everyone. Employees working in a start-up often have a certain mindset and thrive on the pace of change and activity. There is a real buzz but a lot of hard work and tenacity.

What transcendent skills can an employee learn in the first 3 months?
Working in an SME gives each employee a level of responsibility which would be hard to find early in a career at a larger organisation.

How do you manage the duality between driving new business and overseeing daily operations?
Putting a great team in place allows me to manage new business and daily ops.

Who has been your biggest source of inspiration??
There are a number of leaders, statesmen, and visionaries that I admire for what they achieved, and in many cases, against the odds. I admire Winston Churchill for the way he was able to galvanise and motivate an entire nation through very dark times to keep believing and not lose hope – that takes a very special force of personality to achieve. In the business world, Elon Musk is an inspiring figure as he is constantly challenging conventional thinking to redefine industries and the way we live.

What motivates you to get out of bed in the morning?
I’m excited by the constant opportunities that come with owning an SME. Whilst not all of the opportunities come to fruition, having the ability to explore and bring new products to market is what motivates me to get out of bed in the morning.

Which three adjectives describe your strengths?

• Innovative thinking
• Adaptabale
• Decisive

Words of wisdom to entrepreneurs at the start of their journey…
A good idea well executed is better than a brilliant idea poorly executed. Having the ideas is the easy part, its ensuring excellent implementation that requires real focus and tenacity to deliver results.

“Success is often defined by timing. Getting the timing right on bringing an idea to market can really make the difference between a good idea and a huge success. Having first mover advantage is advantageous in any market but the market itself and the potential consumers have to be ready to embrace the opportunity”