Mastercard SME report’s new findings

Published: Sat 3 Jul 2021, 11:26 AM

Last updated: Sat 3 Jul 2021, 1:28 PM

After facing unprecedented changes in the wake of the Covid-19 pandemic, small and medium enterprise (SME) confidence in the UAE is on the rise, according to the latest research by Mastercard.

The inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index found that 88 per cent of SMEs in the UAE are optimistic about the next 12 months.

As many regional economies gradually enter the normalisation and growth phase, and social restrictions continue to ease, small- and medium-sized businesses in the UAE have identified easier access to funding (40 per cent), acceptance of digital payments (34 per cent) and training and upskilling staff (34 per cent) as the top three drivers for growth.

Mastercard is making sure that SMEs have all the support they need to go digital. The company works closely with the government, financial organisations and the wider business community to create opportunities for the over 400,000 SMEs that operate within the UAE.

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