Dubai SME appoints McLedger as official accounting partner for UAE SMEs – ITP.net

Dubai SME appoints McLedger as official accounting partner for UAE SMEs – ITP.net

McLedger, the region’s first homegrown fintech cloud platform, has been appointed by Dubai SME as the official online bookkeeping solution for UAE-based startups.

It will be the one-stop platform that will manage an integrated solution for Dubai SME, the agency of Dubai Economy mandated to develop the SME sector. By utilising cloud accounting powered by artificial intelligence (AI) and experienced accountants, McLedger will enable SME owners to effortlessly manage their accounting budget and save up to 85 percent in total expenditure.

According to data from the Ministry of Economy, SMEs represent over 94% of all companies operating in the UAE. Out of that, 73% of the SMEs work in the wholesale and retail sector while 16% are in the service sector with 11% in the industrial sector. The government of Dubai has time and again reiterated its support for this vital part of the economy.