UAE tops inaugural Mastercard MEA SME Confidence Index

UAE tops inaugural Mastercard MEA SME Confidence Index

Small and Medium Enterprise (SME) confidence in the UAE is on the rise, according to the latest research by Mastercard despite facing unprecedented changes in the wake of the COVID-19 pandemic. The inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index found that 88 percent of SMEs in the UAE are optimistic about the next twelve months. In fact, two-thirds (66 percent) are projecting revenues that will either grow or hold steady.

As several regional economies begin their normalization and growth phase, as social restrictions continue to ease, SME businesses in the UAE have identified easier access to funding (40 percent), acceptance of digital payments (34 percent) and training and upskilling staff (34 percent) as the top three drivers for growth. This highlights the opportunities for small businesses that arise from both internal transformation as well as industry regulations and trends.