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Dubai Future Foundation- Plans for Entrepreneurs

Oct 6th,2020 / News Updates

Covid has globally changed the way world operates. Businesses have faced lots of challenges and it has changed the way people conduct business. Adaptability is the only solution be it personal or professional.

UAE has given enough support in the form of stimulus packages for firms to fight COVID challenges. Since the start of Covid till its second phase, the government has issued series of relaxing policies for the business industry.

 

Entrepreneurship in the UAE

It is observed that UAE is prepared to deal with future changes in innovation & entrepreneurial sector. As UAE’s annual GDP is around 47 % from the small businesses & startups, the government have helped tremendously to support that sector post COVID.

 

It is important to support small businesses and startups to promote digital economic activity in the country for a sustainable economy. Dubai Future foundation has implemented important steps for the businesses in UAE.

 

There have been many steps that are implemented to enhance the innovation ecosystem in the UAE. Reducing office costs, utility bills and licensing fees have been a major relief for businesses of all sizes. Moreover flexible financing has proven to ease the burden from many small businesses as well as open grants for startups have motivated many entrepreneurs.

Innovation sector will has a catalytic role in supporting the growth of startups and entrepreneurs in the UAE by enhancing financing and providing low-cost financial services

 

Courtesy : Gulf News

 

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