UAE aims to grow to over 2m companies and 10 unicorns by 2031, with SMEs already contributing 63.5% of non-oil GDP, says Minister Abdullah bin Touq
UAE SMEs
Latest in UAE SMEs
RAKBANK
UAE SMEs optimistic as 3 in 5 report revenue growth despite cost increases: Survey
RAKBANK SME Confidence Index captures the mood of small and medium-sized businesses in the UAE
Entrepreneurs
UAE SMEs continue to show resilience, but confidence drops marginally
In a survey by RAKBANK in association with RFI Global, the UAE SME Confidence Index score showed 4-point drop from 61 to 57 in 2024
Emirates Development Bank
Emirates Development Bank launches $272m fund to boost UAE SMEs
Emirates Growth Fund will invest up to $13.6m per UAE SME
SC Ventures
Standard Chartered’s SC Ventures to replicate Asia, Africa SME model in GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to roll out an ambitious growth plan through a series of strategic tie-ups
crypto payments
Hubpay partners with Aquanow to launch UAE’s first regulated crypto payments facility for businesses
The collaboration will enable businesses across various sectors, including real estate, to accept cryptocurrency payments securely and seamlessly, alongside traditional fiat transactions
UAE
UAE’s Hubpay aims to cut business account processing time from 3 months to 24 hours
The UAE is currently home to over 557,000 SME businesses, with a target to grow that number to over 1 million by 2030
Federal Tax Authority
UAE small businesses reap benefits as Muwafaq package supports SME tax compliance
The package seeks to create a significant step forward in fostering innovation within the tax system and delivering comprehensive solutions that align with market needs
digital payments
UAE SMEs report 91% business confidence for 2025, Mastercard study shows
The report indicates that 90 percent of SMEs expect to maintain or increase their revenue compared to the previous year
trade licence
UAE has more than 1.5m registered trade licences
The UAE has more than 1.5m registered trade licences and a broad range of economic activities,
AI
UAE SME sector set for major boost as no-code platforms drive innovation
Early adopters of AI tech in the UAE are reaping the benefits with faster product launches, leaner operations, and more competitive pricing
Small and medium enterprises
UAE banks extend $22.2bn in loans to SMEs
According to the UAE Ministry of Economy, SMEs represent over 95 percent of all companies in the country
Corporate tax
UAE corporate tax 2024: Details, registration, requirements
These are the necessary procedures that all businesses operating in the UAE must follow in order to comply with the corporate tax framework
anti-money laundering
UAE corporate tax: Inside the Ministry of Finance Explanatory Guide
With the corporate tax law taking effect this year, the UAE’s Ministry of Finance has published an Explanatory Guide to give business owners clarity on the new legislation and what it means for businesses
Cross-border banking
UAE cross-border payments to surge in 2024
Lower fees, speed, and a simple process were identified as key factors influencing the choice of cross-border payment providers among UAE residents
anti-money laundering
UAE tax: How to prepare for corporate tax, what you need to know
John Casey, Managing Director, Virtuzone Accounting and Tax breaks down how small businesses can prepare for UAE corporate tax
anti-money laundering
Explainer: How corporate tax is reshaping the UAE economy and the SME sector
This year has been a pivotal year for the UAE, as the country ushers in a new era with the introduction of corporate tax
