Due to their immense role in the growth of national economies, small and medium enterprises (SMEs) have been at the center of attention for policy makers in both developed and developing countries. SMEs make up to 99 percent of total enterprises in most developed countries, more than 60 percent of employment, and more than 50 percent of GDP. In UAE, 94 percent of businesses are SMEs contributing to 53 percent of GDP in 2019 increasing by 4 points from 49 in 2018, and 70.2 percent of the non-oil economy. While this share of the economy is significant, it is nevertheless lower than most developed countries…

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