Dubai SME extends AED75.6 million in financial facilities to Global Village

DUBAI, Dubai SME has extended AED75.6 million in financial facilities to the Global Village under an agreement to support Emirati business initiatives.

The agreement, signed for the 26th season of Global Village, which runs until 10th of April 2022, aims to provide emerging national projects with an exclusive space in one the best business platforms in Dubai. Under the agreement 25 kiosks have been allocated for Emiratis within Global Village to launch and grow their business.

Dubai SME, through its online registration portal, received more than 200 applications for Global Village. The eligible candidates were selected by a committee comprising representatives of Dubai SME and the Global Village. The 25 kiosks were allocated for startups in the food and beverage (F&B) sector, chiefly restaurants and cafes, wholly owned and operated by UAE nationals. Priority was given to Dubai SME members, existing restaurants/cafes located in Dubai, new concepts, and entrepreneurs seeking to participate in Global Village for the first time.

Being present at Global Village will provide ambitious Emirati entrepreneurs with a stimulating experience and opportunity to experiment with their spirit of innovation and excellence as well as business development skills. The unique exposure will also enable Emirati entrepreneurs to enhance competitiveness and sustainability of their business while also supporting economic development in Dubai and the UAE.

One of the focal points for Dubai SME is to augment the presence of Emirati products in various local and global forums, thereby creating more opportunities for entrepreneurs to turn their ideas into reality and gain further knowledge and experience in successful enterprise.

Abdul Baset Al Janahi, CEO of Dubai SME, commented: “Dubai SME and the Global Village have remained partners for more than 15 seasons. During this period we have supported 689 varied projects, with food and beverage being a strong component in the past five years. The total value of support we have extended under this partnership has now reached AED 75.6 million. We thank the Global Village team for extending their platform to aspiring entrepreneurs.”

Participation in Global Village entitles entrepreneurs to special incentives in addition to various forms of support each season. Average sales achieved by Emirati projects participating in each season is eight million dirhams, which in itself is an incentive for Emirati youth, especially fresh graduates, to become successful and empowered.

Expressing his happiness at the continuing partnership with Dubai SME Bader Anwahi, CEO of Global Village, said: “We believe in the importance of entrepreneurship and its role in promoting innovation, driving economic growth and creating opportunities for the young people of our Nation. Global Village is an exceptional platform for SMEs to gain the necessary expertise to optimally manage projects, develop their business and ultimately achieve their goals.”

Anwahi said that Global Village is also offers great propspects for international businesses. “It’s an ideal platform for any business or project, providing endless opportunities to introduce, and incubate, concepts to the region. Supporting ambitious Emirati youth as they explore new business opportunities in various sectors and build partnerships is important to the economic prosperity of the UAE. We are proud to play a role in strengthening the SME ecosystem in Dubai, enabling SMEs to make remarkable returns on their investment, and supporting the UAE government’s strategy to develop a stronger entrepreneurial ecosystem.”

Entrepreneurs who were part of Global Village during previous seasons have benefitted significantly from the exposure and the support provided by Dubai SME. Marwan Falaknaz, owner of TripX project, said: “Global Village is a unique business platform for launching a new project. The advantages offered by Dubai SME is encouraging too, as it provides working spaces at competitive prices and provides valuable guidance to entrepreneurs in operations and marketing.”

Source: Emirates News Agency

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