Dubai is an incubator for SME’s
The third cycle of Dubai SME100 was launched recently by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. Dubai SME100 is developed by Dubai SME, the agency of the Department of Economic Development (DED) in Dubai in order to work towards developing the small and medium enterprise (SME) sector in Dubai. In this initiative, they identify and rank companies based on a set of financial and non-financial performance indicators.
95% of the businesses operating in Dubai are currently comprised of small and medium enterprises and account for about 42 per cent of the total workforce; contributing to 40 per cent of gross domestic product (GDP) of the emirate, according to Sami Al Qamzi, Director General of DED. With this initiative, Dubai looks to enhance overall SME performance in Dubai and subsequently reflecting positively on the economic landscape in the emirate.
Abdul Baset Al Janahi, CEO of Dubai SME said that the 4,532 companies, which registered in the third cycle of Dubai SME100 represented an increase of 49 per cent compared to the 3,041 companies registered in 2013.
ADAM Consulting participated in the 2013 cycle of Dubai SME100 and was ranked 34th, currently participating in the third cycle and shortlisting process, ADAM Consulting is a promising award-winning SME.