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Survey of Financing Options and Key Challenges Faced by SMEs in the UAE: Economic Environment, Finance, and Regulatory Landscape

Survey of Financing Options and Key Challenges Faced by SMEs in the UAE: Economic Environment, Finance, and Regulatory Landscape
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Author(s): Abderazak Bakhouche (Higher Colleges of Technology, UAE), Randa Elchaar (Higher Colleges of Technology, UAE)and Manal Emam (Higher Colleges of Technology, UAE)
Copyright: 2020
Pages: 31
Source title: Entrepreneurial Innovation and Economic Development in Dubai and Comparisons to Its Sister Cities
Source Author(s)/Editor(s): Heather C. Webb (Dubai Men’s College, UAE)and Hussain A. Al Numairy (Dubai Men’s College, UAE)
DOI: 10.4018/978-1-5225-9377-5.ch006

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Abstract

Innovation has an essential impact on SME creation, and governments are concerned with stimulating adoption of innovation by SMEs to strengthen growth and development and adapt to the ever-changing business environment. Innovation by SMEs requires operating within a generally embracing economic and financial environment. The availability of various formal and informal financing options and a growing economy encouraging consumer spending, innovation-driven investment spending and export, and a policy favoring enhancing private equity, economic diversification, and market competition are incipient factors contributing to a culture of private initiatives by entrepreneurs and SMEs.

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