Only 2 % of bank loans in the Gulf are given to SMEs

Dubai, United Arab Emirates, 25th November, 2010: According to a study by Arab Union Bank and International Bank, only 2 percent of bank loans in the Gulf are given to SMEs, which reflects the dominance of big companies in this area. This will be one of the key topics be discussed at the 2nd SME Expo & Conference to be held between Dec 13-15, 2010 in Dubai.

Satish Khanna, General Manager, Al Fajer Information & Services, organizer of the event, said: "Today in GCC, there is emergence of hundreds of small and medium enterprises engaged in diverse traditional innovative concepts, backed by latest technology and integrated systems."

He added: "The Western economies realized decades ago that it is the SMEs that drive the economy and though big businesses are important, they have very big problems of their own. Gigantic corporations of the earlier eras have increasingly lost their edge to nimble, fast-moving, smaller organizations as they have sprouted all over the Western landscape."

A new turning point has been reached in the GCC region, as mega corporations which were formerly the only drivers of economic movements are now increasingly being over-shadowed by small and medium enterprises.

Khanna added: "Today, now that recession is almost over, Dubai and GCC open golden opportunities to the global business communities of the world. The business activities in the region are increasing at record pace by the day. Right now, Dubai International Exhibition Centre, the largest centre in Middle East, has 365 days of bookings for major fairs, exhibitions and conferences, millions of people are coming in to interact, exchange ideas and form alliances. Sellers form all over the globe in search of business from this region."

"Easy access to ownership of one's own business, property and no taxes have made this a top location, and SMEs are coming in huge numbers," Khanna added.

This SME EXPO will be visited by some 10,000 members of the SME community of this region and the world. There will be some 150 SME related businesses showcasing their strengths and innovative ideas at the show.

In the SME Conference, there will some 200 delegates who will hear the top 20 speakers in this field. The theme is "Making Innovations happen in SMEs: Financing, Networking, Innovation and Technology" to offer a platform to create new alliances and to team-up for greater exportable opportunities throughout the Middle East and MENA.

"We are finally ready to tackle this new frontier and we invite businesses from all over the world to come and explore the vast opportunities this region has to offer to SMEs", says W. Gagan, the Exhibition Manager of the SME Expo.

SME Expo and Conference is a dynamic new platform of Networking and Business Matching running for three days. Banks and Financial Institutions are participating to help entrepreneurs and young individuals how to avail financial support, including ADCB, NBAD, RAKBank, Standard Chartered Bank, Union Nat'l. Bank as well as Investment Free Zones.

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© Press Release 2010