'Promotional support for Emirati-owned small, medium firms'

Abu Dhabi - Dubai FNC member, Al Rahoomi, pointed out that the there needs to be greater promotion and awareness for Emiratis who have established their own enterprises.

More support is needed for small and medium sized enterprises in the UAE, explains Hamad Ahmad Al Rahoomi, FNC member from Dubai.
During Tuesday's session, held in FNC's Headquarters in the capital, Al Rahoomi pointed out that the there needs to be greater promotion and awareness for Emiratis who have established their own enterprises.
"The success of a project does not lie in production, but in marketing," he pointed So far, there are approximately 300,000 small to medium sized enterprises in the UAE and Al Rahoomi believes they need stronger support and must be accessible to everyone, as they are part of the economic backbone.
During the discussion of the issue, Al Rahoomi highlighted on the notion to change the policy, noting that it's crucial to support local and young establishments. The added support will not only help aid to grow their business, but it will also encourage others to establish their own firm and become successful.
The minister said that a law for these businesses was issued in 2015 and entitled them to 10 percent of the government's bids. It also lowered their fees and made easier procedures for them.
Moreover, there are also plans on making 90 per cent GDP from these enterprises. The involvement of these businesses during innovation week, which was held in November, has also helped promote their entity.
Marketing initiatives have also taken place and the enterprises become involved in commercial delegations to foreign countries such as Italy and China. Al Rahoomi explained to Khaleej Times why he believes it's crucial to help small and medium companies in the UAE.
"The main economies made in most countries are from small and medium sized enterprises. Therefore we need to do the best support for them and help sell their items, as well as help with their marketing," he said.
Al Rahoomi stated that providing an "electronic platform or website to display all local small and medium sized enterprises" can help promote their services and grow their entity.