SME World

Latest figures by Bloomberg Intelligence revealed that the UAE has topped the list of countries in the Middle East with the highest number of financial technology (fintech) startups to date at 67. The UAE was followed by Turkey at 44 and Jordan and Lebanon at 30 each. Overall, the number of fintech startups in the region is forecasted to expand from 96 in 2019 to 465 by 2020, with a separate report, an Accenture analysis based on CBI Insights data, predicting that investments in the fintech sector will jump to USD 2.28 billion by 2022 from USD 287 million in 2019.

Several reports reveal that startups generate significant employment opportunities globally, helping drive immense economic growth prospects. 

Startup firms and other young companies provide around 50 percent of all new job prospects in the market with seed stage and those operating for two and a half years hiring an average of 12 workers.

Al Mouj Marina recently recognised the achievements of the Small and Medium Enterprises (SMES) which operate within it, in an initiative launched by the CEO of Al Mouj Muscat.

Etisalat announced the winners of its inaugural ‘SMB Awards 2018’ in Grand Gala event to recognise and celebrate the outstanding achievements of small and medium businesses (SMBs) and start-ups in the UAE.

Paras Shahdadpuri, a veteran in the India - UAE business scenario has taken over as the President of Business Leaders Forum (BLF) - UAE w.e.f. March 1, in the presence of HE Shri Vipul Consul General of India & amidst top Indian and UAE Business Leaders who were present for the reception held in Dubai. The reins baton was handed over by Dr. Ram Buxani who led BLF for the year.