Small-Medium Enterprises (SMEs) play a vital part in the economic progress of the UAE. The Small Medium Enterprises incorporate about 85% of total operational units in the UAE and constitutes 55% of UAE’s employed staff. They are mainly specified as efficacious and productive job providers, the big business seeds, and national economic engines. For the industrial economies of developed countries, SMEs provide more work opportunities instead of multinationals companies. With the increased competition, SMEs in the UAE face challenges and sustain the frequently altering market demand, technological advancement, and competence constraints regarding knowledge, inventiveness, and creativity. Most small and medium enterprises in the UAE face the challenge of qualified staff to supervise their tasks. So, they cannot furnish adequate financial information like large companies and cannot provide an audit of financial statements, one of the basic needs in acquiring a loan from the financers.
Case – Reference no. 621-0038-1
Authors: Muhammad Usman Tariq
Published by: Abu Dhabi School of Management
Published in: 2021
Length: 12 pages
Topics: SMEs; Operations; Economic; Private; Sustainability
