Etisalat has signed a deal with Khalifa Fund to support the development of small and medium businesses (SMBs) in the UAE.

This memorandum of understanding will leverage the combined strengths of both entities to create a strategic platform for supporting SMBs through mutual training, exchanging expertise and creating a superior technology infrastructure, according to a statement.

The Khalifa Fund was established with the objective of offering business opportunities to Emirati entrepreneurs and to help nurture medium sized businesses in the UAE.

Under the agreement, Etisalat will offer tailor made business solutions that will enable SMBs to be more efficient, productive and competitive.

The MoU was signed by Etisalat chief marketing officer Essa Al Haddad and Khalifa Fund deputy CEO and operations director Ibrahim Al Mansoori at the Etisalat Stand in MECOM.

The Khalifa Fund has been instrumental in setting up numerous successful SMBs in the region by providing financial assistance and business incubation centers to local entrepreneurs to operate their businesses.

With the assistance of Etisalat, SMBs will be provided with training programs and workshops to empower them with the skills and knowledge they need to compete in today’s global economy. Khalifa Fund was established in June 2007 with a view to providing suitable investments in SMBs in order to help them develop so that they play a effective role in enhancing the UAE economy.

The fund focuses on training young Emirati entrepreneurs so that they have the capabilities to run their own businesses through provision of training courses along with financial support through three programmes namely “Bedaya”, “Zeyada” and “Khutwa” .

”SMBs are an integral part of  our domestic industry and play a critical role in the  ongoing development of the economy. Khalifa Fund  is committed to supporting SMBs through technical support, consultation and other services in addition  to providing them with financial incentives. The Khalifa Fund will soon sign similar agreements with relevant government sectors who are actively involved with the SMB sector,” said Al Mansoori.

“SMBs represent a large part of businesses in the UAE and constitute the backbone of the economy. Khalifa Fund is pleased to be associated with Etisalat. Together, we hope to help SMBs develop the necessary skills and capabilities they need to be successful,” said Al Mansoori.

“Small and medium businesses are facing a major challenge - how to grow aggressively to meet industry demands while protecting themselves from debt and inflation costs,” said Al Haddad.

“Mobility solutions, such as mobile email, managed services and mobile payments are perfect options for companies looking to expand their businesses. It is an honor for Etisalat to be associated with Khalifa Fund to help SMBs in the UAE. We see ourselves as a responsible and long-term partner to businesses in the region and this initiative marks a step forward in supporting the growth of the local economy,” he said. – TradeArabia News Service