ABU DHABI: Small and medium-sized enterprises (SMEs) represent over 90 per cent of total businesses in Abu Dhabi and employ nearly half of the workforce and account for 42.8 per cent of the non-oil gross domestic product (GDP), Moza Obaid Al Nasri, Acting CEO of the Khalifa Fund for Enterprise Development and Executive Director of the SME Sector at the Abu Dhabi Department of Economic Development, said.
She emphasised the emirate’s commitment to creating a competitive and inclusive business environment, which has established Abu Dhabi as one of the fastest-growing startup ecosystems in the Middle East and North Africa (MENA) region, demonstrating a remarkable 28 per cent increase in value.
The growth is attributed to “strategic initiatives” that focus on enhancing the operational landscape for SMEs, thereby stimulating innovation and ensuring sustainable progress.
“Central to these efforts is the ‘Falcon Economy’ strategy, which targets high-growth sectors and aims to provide the necessary regulatory and financial support for SMEs. The ongoing initiatives are tailored to alleviate business challenges and enhance the overall entrepreneurial ecosystem,” Al Nasri said.
Such supportive measures are crucial for empowering local businesses, equipping them with the resources and networking opportunities essential for success, she said.
Khalifa Fund
As anticipation builds for the upcoming Abu Dhabi Business Week, Al Nasri reiterated the emirate’s determination to uplift SMEs, emphasising the event’s role in facilitating dialogue among leaders from both public and private sectors. This platform will focus on policy development and partnership opportunities aimed at reinforcing the supportive infrastructure for SMEs.
Furthermore, the Khalifa Fund will play an instrumental role during the Abu Dhabi Business Week, particularly through the Khalifa Fund Entrepreneurship Competition. The initiative presents startups with invaluable opportunities to showcase their innovative ideas to potential investors, thereby paving the way for funding and support that could elevate their business ventures.
