Law on small and medium - sized enterprises (SMES)
The Federal Law No. 2 of 2014 established the National Program for Small and Medium Enterprises and Projects under the Ministry of Economy. The National Program aims to support UAE Entrepreneurs to strategize and satisfy their needs, as well as grow and sustain their business in collaboration with all stakeholders.
The responsibilities of the National Program include:
- Identify key challenges faced by National SMEs and establish partnerships to develop mitigation plans and solutions to address those challenges
- Develop incentive plans to encourage Entrepreneurship and SME establishment between UAE nationals
- Develop incentive plans to encourage Entrepreneurship, and establish partnerships with relevant entities to address National Entrepreneurs and SMEs’ business needs and support their growth and development, including:
- Marketing their business and products inside and outside the UAE
- Facilitate access to financial and business support solutions