How banks are set to better support SMEs in financing their businesses

How banks are set to better support SMEs in financing their businesses

We often hear about the data points that highlight the importance of small and medium enterprises to the local economy, among them that they account for 95 per cent of companies in the UAE and employ 86 per cent of the workforce.

These are remarkable numbers that attest to the UAE’s achievements in creating a business-friendly hub developed over a long history of mercantile activity, one that has sought to cultivate an environment of entrepreneurship, today a key component of the national agenda. The government recognises the importance of SMEs as a driver of entrepreneurship to help advance economic diversification.