From construction firms to event organisers, retail stores to food and beverage outlets, SMEs played a key role in the success of Expo 2020 Dubai, which awarded contracts worth $288.5 million to UAE-based SMEs in 2021
SMEs in UAE
Dubai SMEs
Emirates Islamic Bank launches new business account to support UAE’s SMEs
Small and medium enterprises represent 94 percent of companies operating in the country, contributing over 50 percent to national GDP
Dr Ahmad Belhoul Al Falasi
UAE is “adamant” about regulation, key to powering startup growth, says minister
A strong regulatory environment makes it easy for startups to expand, says Dr Ahmad Belhoul Al Falasi, the UAE Minister of State for Entrepreneurship and SMEs
AB In Focus
AB Talks: SMEs “critical” to UAE growth, regulation in place for startups that want to expand, says minister
Dr Ahmad Belhoul Al Falasi, the UAE Minister of State for Entrepreneurship and SMEs, on how the UAE plans to evolve its startup sector
business banking
RAKBANK enables SMEs to apply for business loans, financing options on UAE’s first digital onboarding platform
SME customers can apply for business accounts and business finance products through the RAKBANK Quick Apply portal in just a few minutes, and get instant in-principal approval followed by the funds disbursal in just a few days
Ahmed Mohamed Al Naqbi
Emirates Development Bank adds $520 million UAE’s GDP growth, finances 1,350 SMEs across priority sectors
The Emirates Development Bank’s launch of a new credit guarantee platform was able to mobilise more than $90.38 million (AED332 million) of capital to SMEs
District 2020
First 85 startups to move into Expo 2020 Dubai as organisers prepare for post-event era
The immense interest in the Scale2Dubai programme is highlighted in the 3,200+ applications it has attracted from 129 countries, illustrating the status of Dubai as the preferred location for start-ups looking to expand their global footprint
Abdul Basit Al Janahi
Emirati entrepreneurs, Dubai SME members claim government contracts worth $250.9 million in 2021
Since 2002, GPP has secured more than 16,934 procurement contracts for 362 Emirati entrepreneurs and SMEs in varied sectors
Business Support Programme
UAE Ministry of Economy reveals three new programmes, slew of initiatives to support SMEs, entrepreneurs
SMEs represent 94 percent of the total companies and institutions operating in the country and contribute more than 50 per cent to the country’s GDP
banking services
UAE Banks Federation begins SME-focused campaign, offers business-friendly initiatives to build innovation
SME owners will be able to take advantage of customised banking products
Dubai Islamic Bank
EDB, DIB ink credit scheme deal targeting SMEs in priority sectors
EDB to provide the credit guarantee programme to DIB’s SME customers, while DIB will offer up to AED10m financing, with half of the facility amount guaranteed by EDB
banking services
Inside the banking struggles of UAE’s start-ups
Hefty minimum-amount requirements combined with a bureaucratic and lengthy procedure are just some of the hurdles the country’s entrepreneurs face when setting up an account for their small businesses
banking services
Dubai Free Zone Council looks to help SMEs open bank accounts
Opening a business bank account is one of the most pressing challenges start-ups and SMEs face
inflation
2022 forecast: Why UAE companies should prepare for rising inflation
Senior Mashreq exec says inflation is a natural follow-up to any contraction, such as the one caused by the pandemic
digital lending
The fintech digital lender financially empowering the Middle East’s SMEs
LNDDO’s platform instantly qualifies SMEs for loans and reduces the funds disbursement process from 6-8 weeks to a week
businesswomen
Why recent closures will hit the female business owner harder
Kellie Whitehead, founding partner and Jennifer Blandos, managing partner, of Female Fusion Network, look at the impact of closures on female business owners
advertising
Video: TikTok’s $100 million credit fund – Middle East SMEs
TikTok’s Back to Business program is offering $100 million in ad credits for small businesses advertising on the site.