New info necessities purported for Abu Dhabi trade licenses

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Establishments applying for trade licenses in Abu Dhabi may require to prepare additional data under proposals that are being measured.

New info necessities purported for Abu Dhabi trade licenses

New info necessities purported for Abu Dhabi trade licenses

Planned add-ons to trade license submissions contain the list of paid-up capital and revenues for establishments that generate between Dh1 million annually and Dh250 million, the head of the Abu Dhabi Business Center, Mohammed Munif Al Mansouri revealed.

These are essential requisites for the Abu Dhabi Statistics Center. This will ease the procedure of information and figures collection on the classification and size of the companies.

UAE government authorities have been considering on small businesses to act the main function in the advancement of the economy. SMEs tally for 86% of the workforce in the private entity, whereas 300,000 establishments can be categorized as part of the industry.

However, almost two years ago, SMEs have discovered that this is more challenging to hit funding among growing avoidances as banks sharpen their conditions for handing loans.

On the other hand, the chairman of the UAE Banking Federation, Abdul Aziz Al Ghurair, has advised that a number of small business proprietors might have escaped the country, departing unsettled debts of approximately Dh5 billion.

Mohamed Dekkak

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