Helps companies grow and develop their businesses according to international best practices

Launching the fourth cycle of the "100 Program" to rank the top 100 small and medium enterprises in Dubai

• Dubai is an ideal global platform for the development of small and medium enterprises.

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The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, one of Dubai's economic institutions, announced the launch of the fourth cycle of the "100 Program", to classify the top 100 small and medium enterprises in Dubai. the performance.

This comes as an affirmation of Dubai's distinguished position as an ideal global platform for the development of small and medium enterprises of various activities, and its provision of a supportive environment for their development and growth, under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.

classification

The "100 Program", launched by the Foundation in 2011, works to identify and classify distinguished small and medium enterprises according to financial and non-financial criteria and indicators, and then help the owners of these enterprises to grow and develop their businesses in accordance with international best practices.

The launch of this cycle of the program comes within the framework of the Mohammed bin Rashid Establishment's strategy for the development of small and medium enterprises, which aims to enhance Dubai's position as a global economic center that attracts small and medium enterprises, and as an ideal investment environment that embraces innovation and creativity. One of the main drivers of economic and social growth in Dubai.

The fourth cycle of the program will include commending the exceptional performance of facilities that have proven their resilience and ability to continue and innovate during the Corona pandemic.

attractive environment

Sami Al Qamzi, Director General of Dubai Economy, said, "Dubai's economy is characterized by its diversity and rapid development, and one of the most important reasons for this success is the large number of small and medium-sized companies that employ 51% of the total workforce in the emirate, and contribute about 47% of its gross domestic product." .

He stressed that "small and medium-sized companies have always provided an attractive environment for pioneering talents in the country, because it allows translating their ideas into projects on the ground, with the possibility of developing them into businesses capable of competing in the global competition." He added: "Not only that, but many brands The prominent businesses associated with the name of Dubai, today, trace their origins to small start-up companies.”

nurture innovations

On the other hand, Al Qamzi explained that enabling small and medium-sized companies to grow in an increasingly competitive business environment requires nurturing their innovations, a deeper understanding of their business models, in addition to monitoring the challenges that must be overcome, and developing the support systems they need.

He continued, "Here comes the role of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, which is concerned with the development of this sector, as the Corporation has launched many pioneering initiatives and programs since its launch in 2002," noting that "the Hundred Program is one of the most important programs concerned with supporting and developing Small and medium enterprises, and the celebration of honorable models.

Notable Developments

In turn, the Executive Director of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, Abdul Baset Al Janahi, said that "the 100 program has witnessed remarkable developments since its launch, and played a major role in enhancing the performance of small and medium enterprises in Dubai, which is positively reflected on the economic landscape in the emirate." .

He added that "the 2021 session of the program aims to introduce the distinguished establishments that faced the challenges of the past year with professionalism that enabled them to continue and grow in many cases."

Al-Janahi indicated that the program works to enhance awareness about the importance of developing the small and medium enterprises sector, and the image of Dubai as an incubator environment for small and medium companies, in addition to providing opportunities for companies operating in the sector to attract global investors.

growth

Al-Janahi explained that 88% of the companies classified within the 100 program during the previous cycles managed to achieve a growth rate of more than 10%, while the average percentage of fast-growing companies was 69% (they are companies that achieved a growth rate of more than 20%), while she indicated The results indicated that 98% of the companies ranked were able to positively improve their performance results.

Features

The 100 enterprises benefit from a set of advantages, most notably the capacity building program that is designed to meet the needs of different levels of management, namely: executive directors, financial managers, human resource managers, information technology managers, and quality managers.

The program includes the provision of advisory and guidance services and training programs through international partners.

The features offered also include providing specialized financing solutions at low interest rates, which are provided through the Mohammed bin Rashid Fund for Projects Support, in cooperation with the B-Hive platform, in addition to introducing the 100 facilities in the world of business and finance, and opening channels to enter new markets.

88% of the companies previously classified under the program succeeded in achieving a revenue growth of more than 10%.

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