Key Challenges For Smes In Uae

By Author: Virudhagiri Ediyappalli
Total Articles: 22
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In today’s world SME (Small and Medium Enterprises) along with startup, industries are mushrooming all over the world, especially in UAE. Dubai has always been an entrepreneur-friendly and business-friendly zone, where various tax exemptions are offered for smooth business operations. However, there are definitely some key challenges that SMEs face in the UAE, which causes a setback. When you become aware of these challenges, you can easily find a way to overcome them and run your business smoothly. Various business consultants in UAE have collectively pointed out at the following challenges that they faced:

• Lack of Skills: Dubai lacks large scale management skills. With the labour laws in the place where an only certain percentage of talent can be outsourced from the country, it has become a challenge to find the right skills. Many managers are available with wide skillsets don’t have a full range of experience that match international requirements or have exposure like others.

• Economic Conditions: In the world after the pandemic, every country is struggling economically, ...
... even those who were seen as economic giants! UAE is no exception to this. Business consulting experts say that this is one of the main concerns in the global market. Only time can show what measures are introduced globally and nationally to support the growth of SMEs.

• Lack of Funding: Every SME needs rounds of funding to support their business at various stages. In the current scenario where the funders few and companies needing funding are many; not all businesses can thrive. With economic conditions undergoing a considerable change, it is has stagnated the process of funding. Hence, SMEs have to be extremely careful and specific about their business plans, expenses and outcome.

If you are an SME entrepreneur that is facing any of these challenges, it is time you got some advice from a business consultant in UAE on finding smart ways to work around to grow your business.