This article has been researched and written by Thomas McNelliey and the team at Creation Business Consultants and has not used AI in generating this article.
Small and Medium Enterprises (SMEs) are the pillar of the United Arab Emirates economy. Over 94% of all businesses in the nation are classified as SME, according to the Ministry of Economy. More than 86% of the workforce in the private sector is employed by them. SMEs make up around 95% of all enterprises in Dubai alone, employing 42% of the labour force and providing 40% of Dubai’s GDP.
Like all businesses there are highs and lows. Dubai small and medium businesses can feel the strain more in such a competitive business environment. There is no one fix formula to get your business through challenging economic or slow business periods. However, we have identified some strategies for SME survival.