The National Program for Small and Medium Enterprises and Enterprises, affiliated to the Ministry of Economy, announced the launch of 16 new initiatives to support and develop Emirati SMEs during the year 2020.

He pointed out during a press meeting held at the Ministry’s headquarters yesterday in Dubai that the most prominent initiatives include the completion of the link with the European Business Network, allowing Emirati companies to access markets through partnerships through the network, in addition to qualifying and training Emirati entrepreneurs, and supporting the promotion of their products, through Their participation in international and local exhibitions, pointing out that the program recently monitored the submission of more than 160 applications for financing small projects for citizens through the Emirates Development Bank. Initial approvals were made for about 20% of those submitted.

In detail, the director of the National Program for Small and Medium Enterprises and Enterprises, affiliated to the Ministry of Economy, Dr. Adeeb Al-Afifi, said that “the program will launch 16 new initiatives to support, enable and develop small and medium projects in the country during the next year”, noting that “the initiatives include various axes, the most prominent of which is linkage completion With the European Business Network, it is expected to enter into force in the next April ».

He explained that «the initiative will include linking entrepreneurs registered in the national program for small and medium enterprises, who currently number 2000, with members of the European Business Network that includes 11 thousand companies, which allows UAE companies through partnership agreements, access to European markets with their products, which provides them Wide ranges to market its products, in addition to exchanging information and experiences, organizing joint events, and exploring opportunities to establish new business partnerships with European business leaders.

Al-Afifi added that «the program will work, by the end of next January, to prepare workshops to introduce the members of the national program to the initiative and the entrepreneur’s partners in the European Network».

He revealed that "the program recently monitored the submission of more than 160 applications from small and medium enterprises to citizens, to obtain financing from the Emirates Development Bank, and that initial approvals had been accomplished for 20% of the requests submitted for financing, and concentrated in projects in the trade and services sectors," noting Until «(the bank) provides financing with values ​​starting from 300 thousand dirhams and up to 30 million dirhams for projects, according to the nature of the sector, as the funds for industrial projects differ from commercial or service».

Al-Afifi added that «the current year witnessed an increase in the number of UAE small and medium-sized projects activated through the electronic system of the national program for projects and small and medium enterprises, to include 2000 business pioneers compared to 1500 during 2018, with an increase of 33%», pointing out that «it is intended to increase the number of Entrepreneurs from the program members to 5,000 entrepreneurs, by the end of next year, with the support of the supportive initiatives that are launched during that period ».

He said that «86% of the companies are a member of the national program, owned by women entrepreneurs, while 70% of the total companies are members of the program, so far, from the small companies that have five employees or less, and operate with an annual return of three million One dirham or less.

He explained that «during the last period, an agreement with (Expo 2020 Dubai) was activated, through which a rate of between 10 and 20% of the total tenders offered by it is allocated to small and medium projects, with priority being given to the members of the program.

He pointed out that «the initiatives that will be launched, during the next year, include holding 50 training courses for more than 3000 Emirati businessmen in the Emirates.

Al-Afifi stated that «the initiatives also include an initiative to involve member projects in the program, during the year 2020, in the forum of small and medium companies, on the sidelines of the annual investment forum, which will represent a platform to connect them with global companies investing and searching for commercial and investment opportunities in the state’s markets, as well as exchange of knowledge Find out about innovative practices in operating and developing startups, small and medium companies.

He explained that "the initiatives also include launching a specialized training course on leadership and innovation in the sector of small and medium enterprises, in addition to an initiative to stimulate and support startups and innovative companies, through a national program that includes various programs and workshops."

The 16 initiatives

1- Completion of the connection with the European Business Network.

2- Organizing 50 specialized training courses for 3,000 entrepreneurs.

3- Training of entrepreneurship training program.

4- A platform linking companies to the SME Forum.

5- Training course on leadership, innovation and small and medium enterprises.

6- Implementing a program to support startups and innovative companies.

7- Developing the national program site and linking it with governmental and semi-governmental agencies.

8- Participation in the SMI Expo exhibition in Dubai.

9- Introductory campaigns about the services of the National Program for Small and Medium Enterprises.

10- The Arab World Prize for Small and Medium Enterprises.

11- Memoranda of understanding and trade delegations for the two countries (Azerbaijan and Sweden).

12- An Emirati businessmen delegation to attend bilateral trade meetings in the Netherlands.

13- Organizing a trade delegation for the Canton International Fair in Quanzhou, China.

14- Building a pavilion for 30 entrepreneurs to promote goods and services at the Franchise Business Fair in Riyadh.

15- Participating in the Emirates Exhibition for Small and Medium Enterprises.

16- Participating in a strategic partner pavilion at the Ras Al Khaimah International Exhibition for Small and Medium Enterprises.