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

  • Date: 21-Sep-2020
  • Source: Dubai Chronicle
  • Sector:Economy
  • Country:GCC
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GCC Small Business ‘Boom’ to Drive Post-COVID Economy as Commercial Registrations Soar

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