GCC start-up SME sectors recognised as key drivers

GCC start-up SME sectors recognised as key drivers

“ Empowering Growth ” forum in DIFC to offer insight for SMEs on navigating a fast-changing regulatory environment to leverage new market opportunitie Dubai, UAE: The strategic importance of the start-up and SME sectors in driving economic growth and diversification has gained even more recognition and support of governments across the GCC in this post-pandemic era. With approximately 1.5 million SMEs currently registered in the GCC, the sector has the potential to generate 22 million jobs by 2022, and contribute a significant percentage of annual GDPs for many of the region’s economies. According to the UAE’s Ministry of Economy, the SME sector represents more than 94 percent of the total number of companies operating in the country and provides employment for 86 percent of the private sector’s workforce. As of mid-2020, 350,000 SME’s were registered in the UAE, and considered the cornerstone of diversification efforts. To address the challenges and opportunities for this key sector in navigating the fast-changing legal and regulatory systems being adopted across the GCC, regional law firm Hammad & Al-Mehdar Law Firm (HMCO) is offering entrepreneurs, start-ups and SMEs access to top expertise at its “Empowering Growth” breakfast roundtable forum on 23 rd November 2021 at