42.8 C
Dubai
Sunday, June 16, 2024
spot_img

ScaleUp Franchise enables UAE SMEs to benefit from franchising

[ad_1]

Al Saleh: Ministry of Economy will continue to support entrepreneurs in the UAE through Startup Nation, a program that opens up new opportunities for the growth of SMEs



The ScaleUp Franchise Program is included in one of the tracks of the ScaleUp program, which is part of one of the three pillars of Entrepreneur Nation.

In line with the UAE’s efforts to accelerate the business growth of start-ups and SMEs, support their expansion plans and increase their investment in local and global markets, the Ministry of Economy has launched the ScaleUp Franchise Program in partnership with “Emtiyz”, a company specializing in franchising . The program is part of the second phase of the “Entrepreneur Nation”.

Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, confirmed that the Ministry will continue to provide support for entrepreneurship in the country by developing partnerships with the government and the private sector under Entrepreneur Nation. and support for start-ups. This will help empower entrepreneurs and SME owners and give them easier access to growth and business expansion opportunities.

“The ScaleUp Franchise Program aims to develop the internal operating system of the country’s SMEs in the franchise sector, support their capabilities and provide them with expertise and knowledge so that they are ready to benefit from the global franchise system, in a way This supports their expansion and investment plans in local, regional and global markets,” he said.

He said that the project provides companies with all legal, operational and financial services related to the international franchise system through legal consulting and professional training courses, and provides 10-year marketing support for brands to help them attract investors and sell locally. and opening new branches around the world.

The economy ministry said the plan would be implemented in two phases. The first phase will last eight weeks and may include 25 SMEs, while the second phase will last six months and will aim to ensure that franchise participants are fully prepared.

The ScaleUp Franchise Program is included in one of the tracks of the ScaleUp program, which is part of one of the three pillars of Entrepreneur Nation. The Ministry invites all UAE SMEs wishing to participate in the program to apply through The Entrepreneurial Nation.

The Ministry of Economy, in cooperation with “Emtiyz”, has developed a set of eligibility criteria for selecting SMEs to participate in the scheme. Most notably, companies wishing to join must have a commercial license in the country (including free zones), have their projects profitable in the last financial year, sign a 10-year mutual investment contract and attend all training courses .

The ministry launched the first phase of Startup Nation in November 2021 as a comprehensive platform aimed at supporting the growth of start-ups in the country. It works to create the right environment for the expansion of their activities, supporting more than 8,000 startups and SME entrepreneurial projects in the country, transforming more than 20 startups into unicorns by 2031.

In addition, the second phase of the “Startup Nation” will start in October 2022. It includes 10 new programs with a wide range of global strategic partners to support the growth and expansion of SMEs from the UAE to the world. The first initiatives of the second phase were launched recently, with announced partnerships in various regional and global markets, including South Korea, the Republic of India, the Republic of Latvia and the Kingdom of Saudi Arabia.

Emtiyz has over 24 years of experience in the franchising field. It is also a service provided by the Mohammed bin Rashid Small and Medium Enterprise Development Agency to provide franchise system authorization and qualification to local and regional companies. It has expertise in all areas of franchising, including the provision of franchise contracts that comply with regional laws and intellectual property rights.

— business@khaleejtimes.com

Copyright © 2022 Khaleej Times. all rights reserved. Supplied by SyndiGate Media Inc. (

).

[ad_2]

Source link

Related Articles

UAE Consults Public on Global Minimum Tax Implementation

UAE Engages Public on Dynamic Global Minimum Tax Implementation The United Arab Emirates (UAE) is taking a proactive approach in shaping its fiscal policies by...

Sharjah Award: Global Recognition for Government Communication

Sharjah Government Communication Award (SGCA) has been a significant initiative since its inception in 2012, aimed at recognizing and promoting excellence in government communication. Established...

UAE Weather: Enjoy a Fair Day Ahead with Mild Humidity in Some Areas

UAE Today, residents and visitors can look forward to enjoying a fair and pleasant day with generally clear skies and mild humidity in some...

UAE Banks to Launch Jaywan Debit Cards: Phased Rollout Announced

UAE Banks to Launch Jaywan Debit Cards: Phased Rollout Announced Significant move aimed at enhancing financial services in the UAE, several leading banks have announced...

UAE Jobs: Airline to Recruit 1,000 Cabin Crew by Year-End

UAE's robust aviation sector and its resilience in bouncing back from the challenges posed by the pandemic. In an exciting development for the job market...

Latest Articles