According to the IMF, one-third of the global economy will feel the pinch of rising prices and higher interest rates. The UAE and Saudi Arabia are expected to be largely sheltered from the worst of a global recession. However, it’s still wise to expect headwinds, reassessing how best to grow during these troubling times. In this contributed article, Rayhan Aleem, founder of Alpha Pro Partners shares his take how can SMEs can balance both sides of the coin to achieve sustainable growth in 2023.
In late 2022, the UAE introduced new rules on Corporate Tax. Businesses will be charged at 9 per cent on profits over Dh375,000 from June 1, 2023. The rules are wide-ranging, and more clarifications and announcements are expected. But one of the takeaways from the new law is for SMEs is to think twice about writing off bad debt.
E-invoicing is a significant innovation that has the potential to affect businesses over the coming years, with more governments implementing best practice standards and mandatory frameworks.
Running a small business means juggling many different things on a daily basis and accounting can be one of the hardest aspects to manage. Having a suitable accounting system and outsourcing the task to an accountant will help you to keep track of invoicing, payments and cashflow, but making sure you get the right information from them is crucial.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). Alongside the financial implications, payment problems can also take their toll from a well-being perspective.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). Alongside the financial implications, payment problems can also take their toll from a well-being perspective.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). Alongside the financial implications, payment problems can also take their toll from a well-being perspective.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). Alongside the financial implications, payment problems can also take their toll from a well-being perspective.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). Alongside the financial implications, payment problems can also take their toll from a well-being perspective.
When you’re a small business it’s not always obvious where the money’s going to come from for simple things like stock, and turning away customers just feels wrong. Traditional financing opportunities are slow and not reactive, whereas we needed flexibility.
SMEs represent more than 94% of total companies in the UAE, employing over 86% of the private sector workforce (Ministry of Economy 2019). With such a crucial role in economic growth, Rayhan Aleem, founder of the accounting firm Alpha Pro Partners, is keen to help small business owners overcome one of the main problems that can lead to early closure: a lack of cashflow caused by late payments.
As the lifeblood of the global economy, small businesses need the proper support not just to survive but to thrive. Whatever stage you’re at as an SME, whether that’s planning for expansion or launching an innovative idea, adequate access to finance is going to be crucial. Some of the reasons you might require capital include diversification, product development,
As the lifeblood of the global economy, small businesses need the proper support not just to survive but to thrive. Whatever stage you’re at as an SME, whether that’s planning for expansion or launching an innovative idea, adequate access to finance is going to be crucial. Some of the reasons you might require capital include diversification, product development,
As the lifeblood of the global economy, small businesses need the proper support not just to survive but to thrive. Whatever stage you’re at as an SME, whether that’s planning for expansion or launching an innovative idea, adequate access to finance is going to be crucial. Some of the reasons you might require capital include diversification, product development,
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