Small and medium enterprises (SMEs) are the lifeblood of Dubai’s economy, making up an astounding 99.2% of businesses in the city. These scrappy startups and nimble SMEs bring a unique energy and personality to Dubai’s business landscape. Here are a few reasons why we can’t get enough of Dubai’s SMEs:
They’re Innovative and Agile
SMEs in Dubai are known for their ability to think outside the box and adapt quickly to changing market conditions. With less bureaucracy than large corporations, SMEs can pivot on a dime to capitalize on new opportunities. From cutting-edge tech startups to trendy new restaurants, Dubai’s SMEs are always pushing the boundaries of innovation.
They Bring Diversity to the Economy
With SMEs spanning everything from manufacturing to real estate to healthcare, Dubai’s economy is a veritable choose-your-own-adventure. This diversity helps insulate the economy from downturns in any one sector. It also means there’s an SME out there for every interest and taste – whether you’re in the market for custom furniture, gourmet vegan snacks, or a new app to organize your life.
They Create Jobs
Dubai’s SME sector employs a whopping 1.41 million workers, accounting for 56% of total employment in the emirate. These jobs span all skill levels, from entry-level to executive. SMEs are a crucial pathway for young Emiratis and expats alike to gain experience and build careers in the private sector.
They Punch Above Their Weight
While SMEs may be small in size, they make an outsized contribution to Dubai’s economy. SMEs account for 51% of Dubai’s total gross value add (GVA), generating a staggering Dh199.6 billion. That’s a whole lot of economic impact from a bunch of little guys.
They’re Scrappy and Determined
Starting a business is never easy, but SME owners in Dubai have an extra helping of grit and determination. With the support of government initiatives like the Dh500 million Dubai International Growth Initiative, Dubai’s SMEs are poised to keep dreaming big and punching above their weight.
So here’s to Dubai’s SMEs – the innovative, agile, job-creating, economy-powering underdogs that make Dubai’s business world go round. We can’t wait to see what you do next!
