Dubai is seeking out best small enterprises

Dubai SME, part of Dubai Economy, has launched the fourth cycle of its ‘Dubai SME 100’ programme. The initiative aims to identify and qualify 100 small and medium enterprises (SMEs) based on certain financial and non-financial parameters and support their growth in line with international best practices.

The initiative was launched under the patronage of Shaikh Hamdan Bin Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai. The ranking is part of Dubai SME’s strategy to strengthen Dubai’s position as an attractive destination to invest in innovation and creativity. The fourth cycle of the Programme will highlight SMEs in Dubai that have shown great resilience despite the challenges posed by the pandemic.

“The SMEs contribute to 47 per cent of Dubai’s GDP and account for 51 per cent of the workforce in Dubai,” said Sami Al Qamzi, DirectorGeneral of Dubai Economy.

Strong numbers

“Results of the previous cycles have shown that 88 per cent of ranked SMEs managed to achieve more than 10 per cent growth in sales. In addition, high growth SMEs achieving more than 20 per cent sales growth accounted for 69 per cent,” said Abdul Baset Al Janahi, CEO of Dubai SME.

‘Dubai SME 100’ has grown into a programme to recognise SME excellence, which in turn has helped a number of SMEs in Dubai to attract global attention.

The Programme includes the provision of advisory and training sessions in partnership with international partners.

Specialised financing solutions at low interest rates provided by the Mohammed Bin Rashid Fund, the financial arm of Dubai SME, in cooperation with the Beehive platform, are also part of the package of benefits offered under ‘Dubai SME 100’.