The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / Emirates Business
Small businesses in the UAE continue to show resilience amidst challenging economic times, underscores the two-year compounded growth rate of 100% reported by the finalists of the 2018 Gulf Capital SME Awards.
A total of 97 finalists have been shortlisted this year, with 11% increase in entries compared to 2017, highlighting another banner edition of MEED’s awards programme that recognises success, innovation and growth in the SME sector in the Emirates.
“Every year we are astounded at the quality of the entries we receive, which makes it more difficult to shortlist and then pick winners — this is a testament to the vibrancy of the SME sector in the UAE and that it continues to be a core driver for growth in this country,†commented John Emmerson, Director, SME Awards, MEED, the leading business intelligence provider in the Middle East.
Equally impressive, the finalists reported a combined turnover of AED1.3bn last year which shows small businesses continue to be a key pillar of the UAE’s development.
“These numbers without a doubt prove that the UAE has put in place very strong fundamentals to support the growth of the SME sector in the Emirates,†said Dr Karim El Solh, co-founder and CEO of Gulf Capital.