GCC Small Business ‘Boom’ to Drive Post-COVID Economy as Commercial Registrations Soar

SourceDubai Chronicle
SectorEconomy
CountryGCC

Commercial registrations increase 109 percent in Bahrain amid new wave of entrepreneurs 99 percent of businesses in Saudi Arabia are SMEs making 64% of employment The sector contributes 52 percent of non-oil GDP in the UAE and is set to rise to 60 percent Experts are predicting a GCC “SME boom” as a new wave of regional entrepreneurs emerge out of the COVID-19 pandemic. Commercial registrations have seen triple-digit increases in recent months with tender boards across the region awarding tens of millions of dollars in contracts to these enterprises. Now analysts are hailing the post-Coronavirus economy as an “era of startup growth” as governments focus on rebuilding their economies following ...read more...