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FOR THE UAE ECONOMY, SME SUPPORT SOLUTIONS ARE ESSENTIAL

Small and medium-sized businesses (SMEs) are essential to the UAEu2019s economic growth. SMEs account for a sizeable portion of private-sector employment and a sizeable portion of the national GDP. Businesses that fall below a specific threshold in terms of both staff count and yearly revenue are considered SMEs. The majority of economies are dominated by SMEs, which employ a sizable portion of the labor force and outnumber businesses and corporations. A thriving and forward-thinking SME sector is a key area of priority for the national government for the expansion of any economy. Countries that

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FOR THE UAE ECONOMY, SME SUPPORT SOLUTIONS ARE ESSENTIAL

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  1. FOR THE UAE ECONOMY, SME SUPPORT SOLUTIONS ARE ESSENTIAL Accounting and taxation Small and medium-sized businesses (SMEs) are essential to the UAE’s economic growth. SMEs account for a sizeable portion of private-sector employment and a sizeable portion of the national GDP. Businesses that fall below a specific threshold in terms of both staff count and yearly revenue are considered SMEs. The majority of economies are dominated by SMEs, which employ a sizable portion of the labor force and outnumber businesses and corporations. A thriving and forward-thinking SME sector is a key area of priority for the national government for the expansion of any economy. Countries that take pride in their economic development can attest to this thanks to the expansion of the middle class and the

  2. empowerment of the SME growth engine. SMEs frequently provide new concepts, innovation, and competition, which ultimately benefits customers as a whole. audit services In order to foster a culture of SMEs and entrepreneurship, the UAE, a hotspot for new firms globally, encourages startup platforms, tech-innovation hubs, and various free zones with permissive regulations and 100% ownership and profit repatriation requirements. SME assistance services are a highly sought-after advice service in Dubai, where hundreds of new SMEs are established each month. In order to meet the always-rising demand, there is a concentrated need for SME Support solutions in the UAE as the number of SMEs grows. The range of services that an advising business can offer an SME client is only constrained by your creativity and preferences. You become aware of how dynamic this sector of the economy is

  3. when you build ties with small firms. economy is, and how eager it is to develop, experiment with, and grow. The year 2020 has been disastrous for SMEs, with many companies facing impending cash flow problems. However, with the beginning of widespread vaccination, there is a greater expectation of a steady economic rebound, with SMEs across many segments contributing the most to this recovery. These businesses would be looking for reliable consulting services as they started their recovery process because they are quick to react due to laxer protocols and greater access to decision makers. The necessity for SMEs to develop business resilience into their processes and financial management is one of the most crucial lessons from 2020. Startups and small businesses frequently overlook this concept.It is essential for SMEs to take away important lessons from this epidemic, particularly from the relevant business leaders across key sectors, and to change their

  4. perspective on business in order to become more pragmatic and dynamic. Through standardized SME Support solutions and frequently providing bespoke SME Support Services, Quantum Auditing has supported the UAE’s SME clientele over the years. These services include financial management support, advisory services, small loans for daily operations, credit facilities for trade finance, letter of guarantee and letters of credit, as well as credit repair and other services. Through our proactive engagement with SME-focused government agencies like Mohammed Bin Rashid Establishment for SME Development, Dubai SME, and SME Connect, as an authorized firm in its Service Program, Quantum Auditing prioritizes supporting activities of SMEs essential to the growth of the local economy.

  5. Companies Network. A result of Quantum Auditing’s affiliation with reputable banks and financial institutions, which offer a wide range of banking and financial services to assist SMEs in developing and realizing their full potential, and in recognizing of the importance of SMEs to the economic development of the UAE and the region.

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