{"id":2007,"date":"2023-11-26T17:31:19","date_gmt":"2023-11-26T15:31:19","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=2007"},"modified":"2023-11-26T17:31:19","modified_gmt":"2023-11-26T15:31:19","slug":"added-unveils-sme-finance-facilitator-to-boost-growth","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=2007&lang=en","title":{"rendered":"ADDED unveils \u2018SME Finance Facilitator\u2019 to boost growth"},"content":{"rendered":"<p><span style=\"font-weight: 400\">\u00a0The Abu Dhabi Department of Economic Development (ADDED) has launched the \u2018SME Finance Facilitator\u2019 programme, in partnership with\u00a0 the Emirates Classification Society \u201cTasneef\u201d and support of Abu Dhabi Chamber of Commerce and Industry (ADCCI), and leading banks, to improve SMEs access to financial services and enable them to grow further and play a greater role in the sustainable development.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The new initiative is part of ADDED\u2019s ongoing efforts to enhance the business ecosystem for ADDED unveils \u2018SME Finance Facilitator\u2019 to boost growth as a key driver of a vibrant, diversified, and sustainable economy. It is a result of research, analysis, and active engagements with SMEs, financial institutions, and other stakeholders to address challenges facing SMEs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The \u2018SME Finance Facilitator\u2019 programme is designed to improve access to financial services by facilitating the process for opening bank accounts and accessing credit facilities to support working capital needs and long-term growth.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The programme will assign financial facilitators to assist in understanding financial health checks, preparing financial and non-financial requirements, and fostering trust between SMEs and financial institutions, leading to a transparent communication and collaborative credit assessment. Working closely with participating banks, the assigned financial facilitator will also support qualified Abu Dhabi-based SMEs with preferential rates and fees for banking services and products.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SMEs is one of the vital sectors in Abu Dhabi\u2019s economy; it accounts for 98% of businesses, employs 46% of the workforce, and contributes 42.8 % to Abu Dhabi\u2019s non-oil GDP.<\/span><\/p>\n<p><b>Mrs. Mouza Obaid Al Nasri, Executive Director of SMEs Sector at ADDED<\/b><span style=\"font-weight: 400\">, said: \u201cWe are forging ahead with our efforts to empower SMEs and enhance their role in the next phase of our diversification strategy by contributing to non-oil GDP, creating new job opportunities in the knowledge-based economy, and increasing exports. To equip SMEs with a conducive business ecosystem to grow and expand, we have conducted thorough research, analysis, and conversations with key stakeholders to identify improvement areas\u201d.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe \u2018SME Finance Facilitator\u2019 programme is a valuable addition to our initiatives as access to finance is a major <\/span><span style=\"font-weight: 400\">challenge facing SMEs to grow <\/span><span style=\"font-weight: 400\">and enhance their role in Abu Dhabi\u2019s economy<\/span><span style=\"font-weight: 400\">.<\/span><span style=\"font-weight: 400\"> We believe the programme will provide a suitable solution to meet the financing needs of this vital sector, unleash its growth, and bring about extended ripple effects across various economic sectors\u201d.<\/span><\/p>\n<p><b>Mr. Khalfan Al Saadi, General Manager at Tasneef Business Assurance <\/b><span style=\"font-weight: 400\">said<\/span><b>: <\/b><span style=\"font-weight: 400\">\u201c<\/span><span style=\"font-weight: 400\">The SME Finance Facilitator programme holds a pivotal role in evaluating, preserving, and overseeing the quality of services offered by Finance Facilitator service providers. Tasneef\u2019s involvement in this programme is a testament to its unwavering commitment to upholding the highest standards of business ethics and regulatory compliance\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cTasneef, operating as a provider of Business Assurance services within the SME Finance Facilitator Service, recognises the indispensable role of SMEs in propelling economic growth. We stress the significance of expertise, quality, transparency, and punctual service delivery as fundamental pillars for the prosperity of this programme\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As part of ADDED\u2019s efforts to improve the SME business ecosystem, it has rolled out various initiatives including the recently launched \u2018Abu Dhabi SME Champions programme\u2019 to enable SMEs identify and increase their share of procurement opportunities from private large companies and government related entities (GREs).<\/span><\/p>\n<p><span style=\"font-weight: 400\">Abu Dhabi-based SMEs interested to join the programme can access it via <\/span><a href=\"https:\/\/togetherwecan.adsmehub.ae\/iluvldbi?L=Full+Page\"><span style=\"font-weight: 400\">Abu Dhabi SME Hub<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">(<\/span><a href=\"https:\/\/togetherwecan.adsmehub.ae\/iluvldbi?L=Full+Page\"><span style=\"font-weight: 400\">https:\/\/togetherwecan.adsmehub.ae\/iluvldbi?L=Full+Page<\/span><\/a><span style=\"font-weight: 400\">)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0The Abu Dhabi Department of Economic Development (ADDED) has launched the \u2018SME Finance Facilitator\u2019 programme, in partnership with\u00a0 the Emirates Classification Society \u201cTasneef\u201d and support of Abu Dhabi Chamber of Commerce and Industry (ADCCI), and leading banks, to improve SMEs access to financial services and enable them to grow further and play a greater role [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[39,168,19,130,43,107,87,111,15,35],"tags":[2924,2926,1000,1822,365],"class_list":["post-2007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy-en","category-country","category-events-en","category-featured-en","category-finance-investment-en","category-funding-round","category-gcc-en","category-mou-partnerships-en","category-press-releases","category-smes","tag-abu-dhabi-department","tag-economic-development","tag-investment","tag-smes","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - 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