January 17, 2020
According to the UAE Ministry of Economy, SME sector represents more than 98 per cent of the total number of companies operating in the UAE. In 2019, SMEs have contributed 52% of the non-oil GDP and the target of 60% was set towards contribution of SMEs by 2021 to non-oil sector of economy.
The government have been actively establishing various initiatives aimed at supporting and stimulating the country’s SME sector and promote entrepreneurship in order for it to grow further.
One of such programmes that SMEs should pay close attention to is currently unveiling under leadership of The National Program for Small and Medium Enterprises, affiliated to the Ministry of Economy. The Ministry announced the launch of 16 new initiatives to support and develop Emirati SMEs during the year 2020.
The 16 initiatives aimed to provide comprehensive support to SMEs locally and internationally, including Connection with the European Business Network; Organizing 50 specialized training courses for 3,000 entrepreneurs; establishing a platform linking companies to the SME Forum; The Arab World Prize for Small and Medium Enterprises; Delegations to a number of countries for the Development of Business relationships and trade; Participation at international Trade Shows; Fundraising and much more.
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