Khalifa Fund launches digital tool to assist UAE entrepreneurs boost business growth
ABU DHABI, 29th September, 2020 (WAM) — Khalifa Fund for Enterprise Development has 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 optimise their SME site-visits and be most efficient and beneficial to the entrepreneurs.
Mouza Obaid Al Nasri, Acting CEO of 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.