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Finance Ministry and Dubai SME to further support entrepreneurs and SMEs

UAE s finance ministry and Dubai SME sign agreement to support small businesses

The SME sector in the UAE accounted for about 94 per cent of total companies and employed more than 86 per cent of the private sector workforce at the end of 2019, according to Ministry of Economy data. In Dubai, SMEs accounted for 95 per cent of companies, employed 42 per cent of the workforce and contributed 40 per cent of the emirate s gross domestic product. Supporting the SME sector is among the top priorities at both federal and emirate levels. Dubai has rolled out several initiatives last year to soften the impact of the pandemic on small businesses. The federal government has also ensured access to financing for smaller enterprises.

UAE Ministry of Finance, Dubai SME sign MoU to support entrepreneurs and SMEs

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