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Finance Issues Pertaining to SMEs Discussed

DUBAI — The challenges facing small and medium sized businesses, or SMEs, around the world as they seek to gain access to finance, were discussed at a high-level event in 
Dubai recently.

The event saw the launch of a survey report by the world renowned Economist Intelligence Unit. The report, jointly sponsored by three leading international accountancy bodies — the Association of Chartered Certified Accountants, or ACCA, The Certified General Accountants Association of Canada, or CGA-Canada, and CPA Australia, looks at the issues faced by Small and Medium Sized Enterprises when it comes to accessing finance. Based on the research, the three bodies have made recommendations to policy makers and employers about the initiatives which should be taken to ease the situation for this 
crucial sector.

Delegates at the event called for a number of issues to be considered in the UAE to help small businesses 
to thrive.

They urged small businesses, many of which are family owned, to work with accountants to improve their governance and to become more transparent, since this would increase the likelihood of attracting inward investment and provide more important information for potential clients and suppliers.