Bally Chohan Dubai welcomes new proposed federal law slated to be introduced by the end of June. This proposed law will bring about certain changes in the existing law for setting up of Small and Medium Enterprises. As informed by a senior government official the new proposed law will outline definitions of SME and process for setting up Small and Medium Enterprises.
Bally Chohan Dubai feels that these changes will have a great impact on the Small and medium Enterprise Industry and moreover will pave way for healthy business environment. Bally Chohan was present during the inaugural Abu Dhabi Forum on Entrepreneurship.
There is a significant rise in the number of Small and Medium Enterprise establishments in recent years. This has been verified by a study conducted by Global Entrepreneurship Report. As per the report UAE during 2009 has recorded maximum number of new set-ups around the globe. Moreover UAE has also recorded a record number of individuals who started their own business during past years. The majority of nationals starting their own business are from United Arab Emirates only.
Bally Chohan Dubai strongly believes that with the introduction of this law growth rate to establish new SME will go up to 85%
Tags: business setup dubai