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SME sectors gets additional boost in Dubai

The Dubai Festivals and Retail Establishment, DFRE, and Dubai SME, the agency of the Department of Economic Development mandated to develop the SME sector, have forged a strategic partnership to drive small business participation in the 2019 Retail Calendar. The initiative was conceived by DFRE, DED and 18 selected industry partners to drive Dubai’s retail value proposition and attract increased resident and consumer shopping spend.

Dubai’s SME community represents a significant share of the emirate’s overall GDP. Mandated with strengthening Dubai’s SME sector, the partnership between DFRE and Dubai SME will focus on driving greater retail contribution from the city’s small businesses ensuring advantageous opportunities as part of the innovative Retail Calendar programme. As a first key milestone in the partnership and to encourage participation in the initiative, DFRE and Dubai SME held a briefing session for start-ups to outline the many economic benefits of participating in the retail calendar.

Following considerable analysis by Dubai SME and DFRE, the retail calendar pricing has been considerably restructured to cater to smaller businesses, creating special packages for all qualifying SMEs, who are members of the Dubai SME initiative promoted by the Department of Economic Development, DED, with only three years of operational experience and less than five outlets. Aimed at encouraging wider sector participation, this amendment will afford small and medium enterprises the opportunity to maximize sales and further enhance the overall economic growth.

Now featuring 18 events over 247 days, versus, 12 events over 178 days in 2018, participating small and medium businesses can take advantage of the tactical seasonal schedule of events and promotions that support retailers in boosting profitability and increasing spend from both residents and tourists.

Ahmed Al Khaja, CEO, Dubai Festivals and Retail Establishment, said, “We are constantly looking for ways to support and promote the retail sector and this year, have placed great focus on targeting the small business segment, ensuring this important retail demographic can take advantage of the extensive benefits afforded by participation in the retail calendar. In cooperation with our industry partners at Dubai SME, we have worked to restructure the participation categories to enable smaller enterprises to take part in the retail calendar and benefit from increased opportunities to amplify their retail offering, thus contributing to the emirate’s wider economic development.”

Abdul Basit Al Janahi, CEO of Dubai SME, said, “Dubai SME seeks to involve the SME community in events that enhance their role in the local as well as international markets. The 2019 Retail Calendar in Dubai has varied events for traders to showcase the diversity of their products and services and would be a valuable round-the-year opportunity for SMEs.”

The 2019 Retail Calendar includes the following festivals and events: Dubai Shopping Festival, Russian Holidays, Chinese New Year, Dubai Food Festival, Spring/Summer ‘19 Collection Launch, Home Festival, Ramadan in Dubai, Eid in Dubai (x2), Dubai Summer Surprises, Back to School, Fall/Winter ‘19 Collection Launch, Diwali, Dubai Fitness Challenge, 3-Day Super Sale (x2) and Gifting Weekend.

Source: WAM

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