Big growth prospects for UAE SMEs in 2014

February 12, 2014 | By RetailME Bureau

UAE’s small and medium enterprises (SMEs) are increasingly confident of their growth prospects for this year buoyed by strong economic growth in 2013 and the prospect of Expo 2020. Take the example of healthy F&B concept Kcal, which currently runs six outlets in Dubai, plans to open two more locations in the emirate and six in Abu Dhabi this year.

At Virtuzone, a Dubai-based business that helps smaller businesses set up, the number of new registrations last month rose 12% compared with January 2012, according to its chairman, Neil Petch. “Based on January we’re expecting 2014 to be the biggest year we’ve had so far. Of greater importance, perhaps, is that 62% of Virtuzone clients signed renewal agreements last year, compared with 56% in 2012. Renewal figures for this year were currently about 70%,” he reveals, indicating that an increasing number of smaller businesses are surviving beyond their first year.

In fact, the UAE governments have launched several initiatives to boost the SME segment in recent years to encourage entrepreneurship in the country and diversify the economy. Dubai SME 100, a Dubai government initiative established in 2011 to nurture SMEs, has registered a 50% rise in applications for its 2014 rankings, according to its chief executive Abdul Baset Al Janahi. “We expect this figure to grow even more next year as more business opportunities arise with the continuing growth of the economy,” he observes.



Previous Article Next Article


Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Download Images RetailME Magazine