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The SME Insights Forum: A Roadmap For Success
Catalysing SME Growth in the Region
SME Development - Critical for the Region
The World Bank estimates that 600 million jobs will be needed by 2030 to absorb the growing global workforce, making SME development a high priority for governments worldwide.
According to the UAE Ministry of Economy, the SME sector represents more than 94 percent of the total number of companies operating in the country and provides jobs for more than 86 percent of the private sector’s workforce. In Dubai alone, SMEs make up nearly 95 percent of all companies, employing 42 percent of the workforce and contributing around 40 percent to Dubai’s GDP.
Navigating the current SME landscape
Examine both the macro and micro landscape of SMEs and their contribution to the regional economy. Join us as we touch upon key constraints across access to finance, adoption of technology and staying relevant in changing times...
Finance, funding and cashflow challenges
Access to market and key trends
Digitalisation and adopting technology
Compliance: legal and ESG
Innovation & strategic leadership
Entrepreneurship, business resilience & branding
Nurturing SMEs in the GCC
Recently, Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises (SMEs), UAE, confirmed that supporting SMEs is a top priority in the Ministry’s agenda and ensuring the growth of the national economy in the future.
Overall, local entrepreneurs received over Dhs630 million worth of incentives and support from Dubai SME since its inception in 2002. The total number of Emirati entrepreneurs supported to date by Dubai SME also increased to 38,565 by the end of 2019.
2022 will be another year of continued change as consumer demands evolve and SMEs remain a focal point on the ministry's agenda.
However, access to finance remains a crucial challenge that SMEs continue to battle. High collateral requirements, high rejection rates, informal finance and challenges for enterprises with intangible assets are still an uphill struggle.
Join us as we examine upcoming trends, challenges and opportunities for SMEs this coming year.
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