The Khalifa Fund for Enterprise Development has launched the ‘SME Rating’, a digital classification system that provides a comprehensive overview of the logistics, operations and overall performance of SMEs in Abu Dhabi.
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, UAE’s state-run news agency Wam reported.
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.Â
Speaking about the tool, acting chief executive officer of Khalifa Fund for Enterprise Development, Mouza Obaid Al Nasri, stated, “Our objective is to 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, “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.
