Government initiatives and support for businesses in Dubai

Dubai's thriving business landscape owes much of its success to the UAE government's unwavering support and initiatives. Small and medium-sized enterprises (SMEs) play a crucial role in the region's economic diversification and growth, and the government has implemented various programmes to encourage their development. In this article, we'll explore the key government initiatives and support mechanisms available for Dubai entrepreneurs.

The Entrepreneurial Nation Platform

Initiated by the Ministry of Economy, The Entrepreneurial Nation platform provides a gateway for global entrepreneurs to benefit from free programmes. These programmes cover a range of services, from advice and assistance in resolving financial issues to guidance on setting up a business. To participate, entrepreneurs must create an account on the platform's website and complete an application form.

AWS Connected Community

The AWS Connected Community is a partnership with leading cloud technology and payment services companies, Amazon Web Services (AWS) and Amazon Payment Services (APS). It provides small and medium-sized businesses with free one-on-one consultations, exclusive payment benefits, go-to-market guidance, innovative payment methods, and account manager support. Participation is open to all companies registered in the UAE.

Applications for the AWS Connected Community will be accepted until 30 December 2023.

Government Funds and Centres

Various government funds and centres have been established to support innovative projects and provide assistance with expert advice, tax incentives and business relationship building. Some notable initiatives include:

• Mohammed Bin Rashid Innovation Fund (MBRIF): Supporting innovative solutions in education, energy, healthcare, technology and more.
• Innovation Accelerator Programme: A free business accelerator that provides training, mentorship and business model analysis support.
• Guarantee Scheme: Provides a government guarantee to help entrepreneurs obtain loans for business development.

Mohammed Bin Rashid Establishment for SME Development - Dubai SME

Dubai SME provides comprehensive support to businesses at various stages of development. Initiatives such as 'Hi Dubai' provide free PR and increased visibility, while 'Dubai Next' serves as a crowdfunding platform for start-ups.

Dubai's smart city initiatives

Dubai's commitment to becoming a smart city is evident through the Smart Dubai portal. It outlines the emirate's smart transformation initiative, including plans for a blockchain strategy and a vision to become the happiest city in the world.

Support from the Department of Economic Development

The Department of Economic Development (DED) plays an important role in creating an environment conducive to business growth.The introduction of the "Instant Licence" and various support services, such as the Hamdan Innovation Incubator-HI2, are examples of their commitment to promoting economic development.

Recent legislative changes

Recent legislation passed in May 2019 allows for 100% foreign ownership of onshore businesses, making it more attractive for professionals and entrepreneurs to establish their businesses in Dubai. The introduction of instant licences by the Department of Economic Development will further streamline the process, allowing businesses to secure commercial licences.

The UAE government's strong support for start-ups and businesses, regardless of size, is a testament to its commitment to economic diversification and growth. Entrepreneurs can tap into a wealth of resources, including financial support, mentorship and innovative programmes, as they embark on their business journey in Dubai. These initiatives contribute not only to the success of individual businesses, but also to the overall economic prosperity of the region.

For personalised guidance and support in navigating Dubai's business landscape, DET Group is your trusted partner. As a leading business consultancy, we offer tailor-made services to ensure the success of your business.