SME Setup Process & Work Packages: Entrepreneur Support from the UAE

The UAE has long established itself as a global business hub. With increasingly strong connections between surrounding countries, and the future-positive thinking of leaders the region, the UAE is poised to grow bigger and better than ever. Supporting SMEs and entrepreneurs has become an increasingly prevalent goal for decision makers in the region, establishing funding, training, workspaces, and more, all with the intention of building SMEs into global brands, and enabling entrepreneurs to reach their goals.

Delivering on the UAE 2031 vision is a priority across the field. Focusing on connectivity, funding, and building a strong business environment is increasingly important for creating a thriving launchpad for SMEs and entrepreneurs to grow in an increasingly competitive area.

The Ministry of Economy has reported that SMEs constitute over 94% of the total number of companies operating in the country, as well as contributing significantly to the nation’s GDP and taking the pressure off the nation’s oil dependency. The regions pro-business and SME-supporting policies are a great starting point for anyone looking to thrive in the growing world of business.

Accelerator Support

A challenge for SMEs across the world is limited access to funding and support, however, the UAE hosts a variety of initiatives to incentivise SMEs and allow them to stand on their own feet. Below are examples of some of the programmes on offer:

• National Program for SMEs: Operated by the Ministry of Economy, this programme offers advisory services, financial support, marketing assistance, and training to enhance the capabilities of SMEs.
• Khalifa Fund for Enterprise Development:?Established in Abu Dhabi, it provides financial and technical support to SMEs, with a focus on fostering innovation and entrepreneurship among UAE nationals.
• Dubai SME:?Part of the Department of Economic Development, Dubai SME offers a comprehensive range of services, including funding, training, incubation, and advisory support for start-ups and SMEs in Dubai.
• Mohammed Bin Rashid Establishment for SME Development (MBRE):?This Dubai-based initiative focuses on developing the SME sector through funding, training, and resources for entrepreneurs.?

As well as support via programmes and teaching, the UAE also offers various financial support systems, such as grants and bursaries. The focus to provide SMEs with adequate support is heavily influenced by UAE accelerators, who often introduce or advertise these schemes.

Banks and accelerator programmes can also often offer loans and grants tailored for SMEs and startups. Crowdfunding companies are becoming increasingly popular in the region, and can offer equity crowdfunding opportunities, enabling SMEs to raise funds from a broad base of investors or can offer training and internship opportunities.

Leverage Extensive Network Offerings

Partnering with a trusted telecoms provider, like du Business, means SMEs gain access to a network of collaborators and exclusive events. This is a great opportunity to speak to like-minded entrepreneurs, forge new connections and elevate brand visibility. We also offer opportunities through our marketing movement, showcasing your videos and podcasts to our vast audience.?

du estimates that 50% of small businesses in the UAE are still using consumer phone lines for their business activities, meaning for those SMEs going above and beyond to achieve the best funding and mentorship, can be let down by their communication abilities. As a small business owner, pushing professionalism and credibility is an essential part of operations. Collaborating with a trusted provider can be a great was to show professionalism, grow your audience and forge strong connections with customers and partners.

du has also collaborated with the DIFC Innovation Hub to launch the 'du Business Entrepreneurship Programme' which has been designed to provide support for start-ups, focussing on cutting-edge initiatives that encourage innovation within the UAE business ecosystem. The workshops facilitated by du focus on themes around optimising customer acquisition using AI technologies, building and maintaining CRM systems, adopting emerging technologies, improving customer engagement, optimising back-office efficiency and more. Going beyond promoting collaboration, the du Business Entrepreneurship Programme is driven by du’s commitment to facilitating entrepreneurial success.

Further Support in Free Zones

In recent years, the UAE has introduced more than 40 ‘free zones’ across the region. These zones offer SMEs lots of benefits including foreign ownership, 100% repatriation of capital and profits, tax exemptions and easy business set up. By lowering the barriers to entry in these zones, SMEs and entrepreneurs are able to access trading more easily and invest further profits into the company, allowing growth rates to improve.

Regulation Consideration

The UAE also show their support for SMEs by regularly and continually refining and reviewing policies to ensure it is becoming easier to start a business instead of harder. Looking at reducing fees, simplifying licensing processes and updating copywrite laws are just some of the ways that they are helping progress the system to be in favour of SMEs. As well as this, entrepreneurs and investors are now able to apply for longer term visas, allowing them to live and work in the UAE whilst growing their business.

Growing Together

The combination of financial support, lowered barriers to entry, and mentorship helps to provide a robust ecosystem in the UAE that supports SMEs and entrepreneurs at every stage of their journey, from ideation to scaling and international expansion.

By utilising the support from the UAE, surrounding programmes, and connectivity providers, SMEs have the best chance of reaching worldwide trade. A partnership with du transcends traditional telecom boundaries, and with support such as the DIFC Innovation Hub, and tailored programmes for SMEs, we can help stretch SMEs to their full potential.

At du, we champion SMEs as they evolve and thrive. To support accelerator initiatives, we provide tailor-made, industry specific solutions. We understand the diverse challenges of entrepreneurship, and we are ready to join forces to overcome them together.

Karim Benkirane

Chief Commercial Officer

du