How Dubai is supporting small businesses

Inspired by the UAE Central Bank’s Financial Institution Resilience Package , and Dubai government’s Dh1 billion relief package , new initiatives around the UAE are buoying small businesses, ensuring they transition smoothly from recovery to long-term growth. Free retail spaces for entrepreneurs Similarly, in partnership with Dubai SME, part of the Dubai Department of Economy and Tourism, Ma’an by Majid Al Futtaim is offering direct space for free to UAE entrepreneurs. Small businesses can submit their applications and take advantage of the opportunity to showcase their products in high-traffic spaces like Mall of the Emirates and THAT Concept Store. The Ma’an initiative is also adding visibility through platforms like Carrefour, VOX Cinemas and even online, via their loyalty programme, SHARE. To be eligible, brands must prove they are a locally established business with a valid UAE trade license, and that they have been in continuous operation for a period of at least 12 months. Also read: Dubai SME relief package: Here’s how one business owner cut her licence fees by half Top 5 ways SMEs can take advantage of the Dubai’s economic relief package Fee waivers from banks Banks like Emirates NBD have introduced new measures to provide relief to SMEs, as well. ENBD has announced waivers for cash withdrawal fees at ATMS across the UAE and GCC, along with waivers for loan deferment fees, international courier charges for business card deliveries, and cheque return fees from unforeseen cash flow interruptions. Moreover, the bank is offering a 30% reduction on charges for letters of credit and guarantees, and a 40% discount on cash management services. Ajman Bank, Abu Dhabi Islamic Bank, and First Abu Dhabi Bank (FAB) have also announced similar relief measures for their customers. Discounted rides to local businesses In the first week of April, Uber UAE made it easier for residents to visit and support local businesses across Dubai and Abu Dhabi. The ride-hailing company offered 20% off Uber trips with promo codes that could be used to travel to certain cultural districts and community hubs, such as Alserkal Avenue and Al Seef in Dubai, and Marsa Al Bateen and Miza in Abu Dhabi. Business community initiatives Businesses based in Dubai are also rallying to help each other and lift each other up. ThinkSmart Hub, a Dubai-based production company, is offering complementary promotional video reels to select UAE-based businesses, helping them boost their exposure through short-form video content. Kidzapp, an aggregator of local activities, events and restaurants that are aimed towards children, recently launched The Smiles Project, which aims to give select local businesses exclusive exposure on their app. The retail store Brands For Less is offering SMEs a rent-free space to showcase their products, along with increased visibility on their social platforms.