
Dubai SME reaches huge milestones, reshapes entrepreneurial landscape
The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), part of the Dubai Department of Economy and Tourism (DET), marked a breakthrough year in 2024, delivering milestone achievements that reinforced Dubai's position as a major hub for entrepreneurial growth.
The 2024 results contributed significantly to advancing Emirati entrepreneurship and accelerating the expansion of the SME sector. These accomplishments align with the ambitious goals of the Dubai Economic Agenda D33, which aims to double the size of the city's economy by 2033 and further consolidate its position as a leading global destination for business and leisure.
The past year saw Dubai SME reinforcing its role as a catalyst for economic transformation and a driver of Emirati entrepreneurship through a comprehensive range of services and opportunities.
In 2024, Dubai SME facilitated the launch of 3,461 new Emirati businesses, 524 more than in the previous year, bringing the total number of supported SMEs to 19,904 since 2002, the year Dubai SME was founded.
Advisory services were also offered to 3,075 entrepreneurs who benefited from expert guidance and mentorship, more than double the number supported in 2023, bringing the total number of beneficiaries to 53,206 since 2002.
In line with the UAE's Year of Community, which aims to unlock the potential of individuals, families, and organisations by developing skills, nurturing talents, and fostering innovation and entrepreneurship, Dubai SME continues to support home-grown businesses throughout their journey – from ideation to expansion – enabling them to develop their skills, thrive locally, and scale globally.
In line with its mission to build operational excellence among startups, the establishment delivered training programmes and awareness sessions to 5,498 entrepreneurs in 2024, compared to 1,627 in 2023, further reinforcing its commitment to equipping entrepreneurs with the knowledge needed to achieve long-term success.
Dubai SME also extended commercial promotion and digital marketing support to 531 startups in 2024, up from 363 startups in 2023, boosting the online presence of 3,989 entrepreneurs to date.
The Mohammed Bin Rashid Fund for SME (MBRF), the funding arm of Dubai SME, remained instrumental in empowering entrepreneurs through financial support, guidance, and consultancy. In 2024, MBRF funded 44 projects, amounting to AED35.17 million, raising the total number of projects supported to 168 and the overall funding value to AED137 million since its inception in 2015.
In addition, the Hamdan Innovation Incubator (HI2), an initiative by Dubai SME, supported 66 entrepreneurs in 2024, a significant increase from 29 businesses in 2023, reaching 826 total startups supported through increased market access, expansion, and financial guidance.
Ahmad Al Room Almheiri, Acting CEO of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), said, 'Inspired by the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we have laid the foundation for sustainable growth through innovative policies and robust support systems. As we continue to advance towards achieving the D33 goals, Dubai SME remains committed to supporting the growth of the next generation of entrepreneurs across various sectors. By providing financial and technical guidance, we enable businesses to build a strong market presence, including the development and global expansion of Emirati companies.
'Our achievements in 2024 reflect the tangible impact of our comprehensive strategy around supporting SMEs. By actively integrating entrepreneurs and Emirati talent into the SME ecosystem, we are empowering them to scale their operations and drive the city's economic growth. This reflects our unwavering commitment to fostering a vibrant business environment that benefits both individual enterprises and the broader community. Looking ahead, we will continue focusing on strengthening our collaborations with both the public and private sectors to maintain Dubai's economic competitiveness and solidify its position as a leading global city for business, investment, and innovation.' Throughout 2024, Dubai SME rolled out transformative initiatives that amplified its reach. In February 2024, Dubai SME participated in the inaugural Hatta Farming Festival, where it showcased entrepreneurs and SMEs from Hatta's agricultural sector. During the festival, Dubai SME conducted a workshop to introduce its support services, inspiring and encouraging SMEs to turn ideas into viable ventures.
Through MBRF, Dubai SME launched an initiative to support UAE-based SMEs impacted by the rainfall that took place in April 2024. The relief included financial assistance exceeding AED2.5 million, grace periods of up to six months, and deferred loan repayments for eligible Emirati SME owners.
Dubai SME also continued to support businesses by giving them access and prominence at major events, including: Global Village: Dubai SME continued its long-standing partnership with Global Village, the region's leading family destination for culture, shopping and entertainment. During Global Village's 28th edition, which ran until April 2024, Dubai SME allocated 30 kiosks to Emirati entrepreneurs. Since 2005, this collaboration has supported more than 730 projects.
WAM
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Al Etihad
3 hours ago
- Al Etihad
UAE participates in ‘BRICS Youth Summit' in Federative Republic of Brazil
11 June 2025 23:05 DUBAI (WAM)The United Arab Emirates participated in the 'BRICS Youth Summit' hosted by the Federative Republic of Brazil, alongside delegations from member states and partner countries from the Global South. The summit aimed to discuss ways to enhance the role of youth in achieving sustainable development and contributing to global UAE delegation was led by Khaled Al Nuaimi, Director of the Federal Youth Authority, and comprised a group of distinguished young Emiratis. This participation underscores the country's commitment to empowering youth and enhancing their presence in international forums. The delegation included representatives from key sectors aligned with BRICS' future priorities, as well as members of the BRICS Youth Council, showcasing the leadership of Emirati youth in shaping a more integrated and inclusive on the nation's participation, Khaled Al Nuaimi said, 'The UAE has always embraced the directives of its leadership, maintaining a steadfast commitment to empowering youth and supporting their active participation in global development. This reflects our firm belief that youth are the key drivers of change, empowered by developing skills, engaging in national and international policymaking, and strengthening their presence on influential Nuaimi added, 'Our participation in the 'BRICS Youth Summit' is an exceptional opportunity to strengthen cooperation among the youth of the Global South. It aims to enhance their political awareness and support leadership initiatives, encouraging them to innovate and engage in entrepreneurship. We are especially encouraging youth's role in developing the green economy and digital technologies, enabling their contribution to comprehensive development and a more sustainable future for communities worldwide.'The Summit addressed several key topics, including: Youth Integration within the Global South; Political and Organisational challenges; Youth Employment and Joint Development; Education, Science, Technology and Innovation as drivers of National Development; as well as Sovereignty, Social Justice, Environmental Preservation, Peace and the right of Nations to Shape a Shared Future. The UAE's participation in the summit reflects its commitment to enhancing international cooperation on youth issues, emphasising youth's pivotal role in building a more balanced and progressive world. It also highlights the UAE's dedication to supporting dialogue platforms for youth and expanding global partnerships, to open new horizons for innovation and sustainable development.


Al Etihad
3 hours ago
- Al Etihad
Inaugural World Franchise Day celebrates sector's growing potential
11 June 2025 22:08 SARA ALZAABI (ABU DHABI)The pivotal role of the franchise sector in supporting the national economy and empowering entrepreneurs came to the fore during a forum held in Abu Dhabi on Wednesday to mark the inaugural World Franchise Day, to be marked annually on June 11. Titled "Franchise Unites Us and Innovation Leads Us", the forum was organised by the Emirates Franchise Association, affiliated with the Abu Dhabi Chamber of Commerce and Industry, in collaboration with the Khalifa Fund for Enterprise Development and the Abu Dhabi Businesswomen event, held at the Abu Dhabi Chamber's headquarters, brought together entrepreneurs, decision-makers, and representatives from government and private sector entities involved in or interested in the franchise her opening remarks, Noor Al Tamimi, Chairwoman of the Emirates Franchise Association, reaffirmed the franchise sector's role within the UAE's economic ecosystem, especially considering national efforts to diversify sources of income and promote an entrepreneurial culture. She emphasised that franchising today is a practical tool for business growth, enabling entrepreneurs to operate within an integrated operational system, allowing them to benefit from knowledge, training, and institutional Tamimi said: "The Emirates Franchise Association continues to implement its national strategy aimed at enabling Emirati brands to expand locally and globally. The relaunch of the Association's corporate identity has been a significant turning point in its journey, especially after it received official recognition from the World Franchise Council, which made it the accredited representative of the UAE at this international forum."The franchise sector is witnessing rapid growth both locally and internationally. In the UAE, revenues have exceeded Dh100 billion annually, with an annual growth rate of 15%, while global revenues surpassed Dh6 trillion, according to the Abu Dhabi the MENA region, the total market value is estimated at over Dh120 billion. Globally, the sector encompasses more than two million franchisees, providing jobs for more than 19 million people, reflecting its vital role in supporting economies and promoting entrepreneurship, it a recorded speech presented during the forum, Simon Bartholomew, Secretary General of the World Franchise Council, stressed that World Franchise Day celebrates the global franchise community in recognition of its contributions to the international economic landscape and raises awareness of the franchise sector's role in shaping modern economies. UAE a Global Franchising Hub Speaking to Aletihad, Al Tamimi stressed the UAE's growing influence as a global franchising hub."The UAE naturally is the most suitable host for this, because of the ease of doing business, the support our leadership provides, and the national focus on diversifying beyond the oil sector. Today, we have surpassed $30 billion as a market size for franchising - and there is still room for further expansion."Explaining the vision behind the Emirates Franchise Association, she noted that their main goal is to enhance the franchising ecosystem in the UAE and make it a global powerhouse for further highlighted the enabling environment already in place, pointing to Abu Dhabi's position as a global centre for franchising and innovation."Abu Dhabi today is a franchise-friendly environment. Take Khalifa Fund for Enterprise Development, for example - it supports SMEs with funding specifically to help them scale through franchising. If you apply and meet the criteria, you can receive a grant to prepare your brand and business for the franchise model. And that is just one of many initiatives both the Khalifa Fund and Emirates Franchise Association provide to support growth." 'A Golden Platform' Mona Saqr Al Matrooshi, Board Member of the Ajman Businesswomen Council and Director General of the Ajman Society of Social & Cultural Development, told Aletihad that events like International Franchise Day offer real value for aspiring entrepreneurs."Many people do not have enough background in franchising," she said."This event is a true investment opportunity - where they can meet franchise owners, exchange ideas, and grow their businesses. It is a golden platform for those who know how to seize opportunities.""With the UAE's open economy, every citizen or resident should have their own project. What matters is knowing when and how to seize opportunities."Entrepreneur Mohammed Al Nuaimi said "franchising is a shortcut" for those who want to start a business without sufficient experience."The brand provides you with the readiness-from the basic structure to the complete business manual. The entrepreneur only needs to study the brand's suitability for the local market, whether in the UAE or the Gulf Region, and then start operating in record time. However, if they want to establish a project from scratch, they need to conduct a feasibility study, analyse the market, and identify the target group. They can then choose the appropriate sales model." 'Gaining Financial Freedom' Also speaking to Aletihad, Ebraheem Al Samadi, founder and CEO of Forever Rose, highlighted the potential of franchising in shaping the UAE's business future."Franchises offer people the opportunity to gain financial freedom, take responsibility for their careers, and run their own businesses. It is a ready-made platform. I see this as a launchpad for more billionaires and millionaires in the future.""From cafés to restaurants, franchising is everywhere. It plays a vital role in driving economic growth, and the UAE has the potential to be a franchise hub for the entire Middle East. Anyone seeking a franchise in the region will look to the UAE as their go-to destination," Al Samadi Al Saigal, Founder and Partner of Rolling Wheels Entertainment, told Aletihad that franchising is a smart path for rapid, efficient expansion."My advice to anyone with a project they believe in is to adopt the franchise model. It saves time, effort, and money. Instead of spending 7 million on 7 branches, I invest 1 million in one location while others expand the brand under the same system. As the founder, I benefit from franchise fees-both upfront and monthly."However, she urged patience and preparation. "Do not rush into franchising. You need at least two to three years of stable operations, with fully documented processes, before expanding. Let your business mature first - then grow with confidence." Meeting of Minds The forum included a dialogue session called "Meeting of Minds," bringing together leading franchise owners in the UAE, along with specialised consultants and industry experts. They discussed key opportunities and challenges related to expanding local franchises, along with the legal, operational, and financial support mechanisms needed to enhance their competitiveness and sustainable program also featured an interactive visual presentation highlighting the Association's achievements and showcasing successful Emirati brands that have expanded locally and internationally through franchising. The event also included several accompanying activities, most notably the "Franchise Walk," which showcased a selection of local and international brands. In addition, the Association organised advisory sessions in collaboration with several consultancy firms, offering specialised professional guidance on the legal, regulatory, and operational aspects of the franchise model.


Al Etihad
6 hours ago
- Al Etihad
Emirates Franchise Association organises ‘Franchise Unites Us and Innovation Leads Us' forum
11 June 2025 19:42 ABU DHABI (WAM)The Emirates Franchise Association, affiliated with the Abu Dhabi Chamber of Commerce and Industry, organised the "Franchise Unites Us and Innovation Leads Us" forum at the Chamber's headquarters in celebration of World Franchise Day, observed on 11th event was held in collaboration with the Khalifa Fund for Enterprise Development and the Abu Dhabi Businesswomen Council, and featured a select group of entrepreneurs, decision-makers, and representatives from government and private sector entities involved in or interested in the franchise franchise sector is witnessing rapid growth both locally and internationally. In the UAE, revenues have exceeded AED100 billion annually, with an annual growth rate of 15%, while global revenues surpassed AED6 trillion. In the MENA region, the total market value is estimated at over AED120 the sector encompasses more than two million franchisees, providing jobs for more than 19 million people, reflecting its vital role in supporting economies and promoting forum is part of the Association's ongoing efforts to raise awareness of the importance of the franchise sector and its pivotal role in supporting the national economy and empowering entrepreneurs. Franchising is considered one of the most successful and sustainable models for the growth of SMEs as well as expanding the reach of local and regional forum was attended by Noor Al Tamimi, Chairwoman of the Emirates Franchise Association; Maher Taresh Al Alili, Vice Chairman of the Association; Sultan Al Hindasi, Member of the Association's Board of Directors; members of the Executive Committee; working groups; and several representatives from the UAE's chambers of her opening remarks, Noor Al Tamimi, Chairwoman of the Emirates Franchise Association, said that celebrating World Franchise Day reinforces the franchise sector's status within the UAE's economic ecosystem, especially considering national efforts to diversify sources of income and promote an entrepreneurial emphasised that franchising today is a practical tool for business growth, enabling entrepreneurs to operate within an integrated operational system, allowing them to benefit from knowledge, training, and institutional Tamimi said, "The Emirates Franchise Association continues to implement its national strategy aimed at enabling Emirati brands to expand locally and globally. The relaunch of the Association's corporate identity has been a significant turning point in its journey, especially after it received official recognition from the World Franchise Council, which made it the accredited representative of the UAE at this international forum.'She confirmed that the Association hopes to be a strategic partner in building an integrated franchise ecosystem in the UAE, one that is based on supportive legislation, accessible financing, specialised training, and international emphasised the Association's commitment to working with its partners at the Abu Dhabi Chamber, the Khalifa Fund, the Business Women Council, and all relevant national entities to expand the impact of franchising to reach every ambitious entrepreneur in the a recorded speech presented during the forum Simon Bartholomew, Secretary General of the World Franchise Council, stressed that World Franchise Day celebrates the global franchise community in recognition of its contributions to the international economic landscape, and raises awareness of the franchise sector's role in shaping modern encouraged all franchise associations around the world, as well as franchisors, franchisees, suppliers, and partners, to participate in World Franchise Day events to highlight the resilience that franchising offers entrepreneurs and its support for a sustainable economic future, encouraging more entrepreneurs to adopt this promising business forum included a dialogue session called, "Meeting of Minds," bringing together leading franchise owners in the UAE, along with specialised consultants and industry discussed key opportunities and challenges related to expanding local franchises along with the legal, operational, and financial support mechanisms needed to enhance their competitiveness and sustainable programme also featured an interactive visual presentation highlighting the Association's achievements and showcasing successful Emirati brands that have expanded locally and internationally through focused on the Association's efforts to support the development of an integrated franchise system in the UAE based on innovation, efficiency, and sustainable event also included several accompanying activities, most notably the "Franchise Walk," which showcased a selection of local and international brands. In addition, the Association organised advisory sessions in collaboration with several consultancy firms, offering specialised professional guidance on the legal, regulatory, and operational aspects of the franchise model. At the conclusion of the event, the Association reaffirmed its commitment to empowering entrepreneurs and strengthening the supportive environment for franchising in the country. It called on start-ups and local brands to take advantage of the benefits of Association membership, which include guidance, training, institutional representation, and access to new markets through local and international partnerships.