Abu Dhabi: Khalifa Fund for Enterprise Development have officially launched the ‘SME Rating’, a digital classification system that provides a comprehensive overview of the logistics, operations and overall performance of SMEs. The SME Rating measures the SMEs through a key set of financial and operational evaluation criteria including financial and productivity management, business sustainability and human resources. The SME Rating system has been developed for the benefit of local small-medium enterprise owners so they can obtain an accurate overview of their organisation’s strengths and weaknesses and ensure that their business functionalities are operating to standard. The digital tool will offer an enhanced business evaluation process for SMEs, with better efficiency and more accuracy, which will ensure that Khalifa Fund’s business counselors can optimize their SME site-visits and be most efficient and beneficial to the entrepreneurs.
Mouza Obaid Al Nasri, Acting CEO, Khalifa Fund for Enterprise Development stated: “Khalifa Fund is extremely excited to launch this innovative and resourceful tool. Our objective is to of give our SMEs the opportunity to excel further through the provision of a platform that will allow them to grow and improve.
The idea behind the SME Rating is to provide a system which best assists entrepreneurs with navigating and identifying their strengths and weakness to best determine the most optimal business decisions for the benefit of their organisation, and thus leads to an ever-advancing UAE entrepreneurial ecosystem.”
She added: “Khalifa Fund actively contributes towards the positioning of the UAE as a global leader for entrepreneurism. Through the development of tech-savvy platforms such as the SME Rating, Khalifa Fund is showcasing its support and dedication towards the long-term production of imperative services and platforms that promotes the integration of entrepreneurism and innovation.”
The SME Rating will launch as a web-platform which operates as a tool for Khalifa Fund’s business counselors to accurately measure the fundamental elements of the business in question. This will be the first time that business site visits contain a digital aspect, which will be available to all Khalifa Fund applications of over one year.To find out more about the SME Rating, how to apply, or to enquire about more of Khalifa Fund’s services, kindly visit www.khalifafund.ae.
About Khalifa Fund for Enterprise Development
Khalifa Fund for Enterprise Development was established in 2007, by the virtue of the Law 14 of 2005 and its amendments, in the implementation of the vision of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi. The Khalifa Fund works as an independent, not-for-profit economic development agency of the Government of Abu Dhabi for the development and support of small-to-medium enterprises (SMEs).
The Fund helps to develop local enterprises in Abu Dhabi through instilling and enriching an investment culture amongst UAE nationals. The Fund also seeks to support and develop SMEs in the Emirate.
Khalifa Fund was founded in 2007 with a total capital of AED 300 million, which gradually increased in 2009 to AED 1 billion, in order to meet the growing demand for the Fund’s services. In 2011, the Fund’s total capital was increase to AED 2 billion, and the Fund covered all of the UAE through a network of branches.
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© Press Release 2020