Blitz Bureau
The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), an agency of the Dubai Department of Economy and Tourism (DET), significantly enhanced its support for entrepreneurs and businesses in the first half of 2024, ensuring SMEs continue to contribute towards economic growth in the emirate, WAM reported.
Coinciding with World Entrepreneurs Day on August 21, the release of Dubai SME’s H1 2024 results reflects its alignment with the ambitious goals of the Dubai Economic Agenda, D33, to double the size of Dubai’s economy in the decade up to 2033 and to further consolidate Dubai’s position as a leading global city for business and leisure.
From January to June, a total of 2,714 entrepreneurs benefited from Dubai SME’s guidance and training services, up 164.3 per cent compared to 1,027 in the same period last year. Additionally, 1,373 Emirati entrepreneurs benefited from mentoring services, up 190.3 per cent from 473 in H1 2023. Dubai SME also supported the establishment of 1,986 new enterprises in the first half of 2024, a 57 percent rise compared to 1,265 in H1 2023, driving growth across key sectors such as general trading, real estate, and facilities management.
Since its inception in 2002, Dubai SME has provided guidance and training services to 48,923 entrepreneurs, and mentoring services to 51,504 Emirati entrepreneurs, while also supporting the establishment of a total of 18,429 local enterprises.
Abdul Baset Al Janahi, CEO of Dubai SME, said, “As we celebrate World Entrepreneurs Day, it is important to recognise the role that SMEs are playing in Dubai’s economic growth, driven by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and contributing towards achieving the goals of the D33 Agenda.
“We are proud to support entrepreneurs and SMEs in Dubai, enabling them to contribute towards positioning Dubai as the best city to visit, live, work, and invest in.” During the first half of the year, Dubai SME assisted members in securing contracts worth AED395.4 million from both the public and private sectors.
