Thursday, December 04, 2014

Are the Survival Instincts of SMEs in UAE Higher Than Elsewhere in the World?

According to Alexander Williams, Director of Strategy and Policy Division at Dubai SME, the most important issue faced by any new SME that’s struggling to survive a year after set up is the non-availability of funding.

Williams's advice is as follows:
“Secure necessary funding and always take on an investor or a partner on board,” he says adding that although the failure rate of SMEs in the country could be on par with global standards, the resilience seen here is much higher compared to anywhere else in the world.
Read the entire article:  UAE SMEs more resilient compared to global counterparts


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Brian S. said...

No doubt most small business financing in the UAE comes from families. I wonder how much of that "resiliency" can be attributed to the more collectivist, family-centric culture common in the Middle East.