Dubai SME rolls out new measures to support entrepreneurs and start-ups – The National

Dubai SME rolls out new measures to support entrepreneurs and start-ups – The National

Dubai SME rolls out new measures to support entrepreneurs and start-ups. Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise sector, rolled out a series of initiatives to support startups and entrepreneurs in Dubai to ride out the Covid-19 pandemic.. The new measures include postponement of rent payments, easier access to SME financing and remote assistance on successfully navigating operational challenges.. "Dubai SME is exploring all avenues to ensure that SMEs in Dubai remain resilient and turn the present challenges into an opportunity to pursue further innovations and growth.". As part of the support package, the Hamdan Innovation Incubator (Hi2) in Dubai SME will postpone the collection of rents for three months.. A fee reduction of up to 20 per_cent is also offered on the Private Office package of Hi2.. The Mohammed Bin Rashid Fund for SME, the financial arm of Dubai SME, announced a comprehensive support package, including loans to help businesses.. The fund also provided a three-month grace period for loan repayments and facilitated access to more financing for SMEs.. The fund will offer zero-interest financing to Dubai SME members struggling to meet obligations relating to operational expenses, such as salaries and