SMEs Get a Digital Boost in the UAE

You have a great business idea, a solid plan, and the passion to make it happen. But then comes the paperwork. The forms, the documents, the waiting—it's enough to make anyone second-guess their entrepreneurial dream. If you’ve ever felt this way, you're not alone. Many small business owners cite the complex and time-consuming process of business registration as one of the biggest hurdles they face.

Fortunately, things are changing. A new collaboration between Mastercard, the IFZA free zone, and consulting firm Global Tax Assistant is set to make starting a business in the UAE a lot simpler. They’ve teamed up to create a fully digital, AI-driven platform for business registration.

Think about it: instead of manually filling out endless forms and waiting for each step to be verified, the new system uses AI to automate the entire process. From submitting your initial documents to getting your business license, the technology handles the heavy lifting. This means less time spent on paperwork and more time focused on what really matters: building your business. The goal is to reduce the typical setup time and operational costs, a major win for any new startup.

This initiative is a big step for the UAE, where SMEs are the backbone of the economy. SMEs make up over 94 percent of all businesses in the country and contribute to more than half of its GDP. This new digital approach aligns with the UAE's broader plan to become a top entrepreneurial nation by 2031.

For Mastercard business cardholders, the deal is even sweeter. They'll get access to discounted business setup services, further lowering the barrier to entry for new companies. This collaboration reflects a larger push to support and grow the SME community in the region, helping these businesses expand not just within the UAE, but also into the Eastern Europe, Middle East, and Africa markets.

As Jochen Knecht, CEO of IFZA, put it, SMEs are "the prototype of tomorrow’s global companies." This new digital registration process is designed to give them the tools they need to succeed from day one. It's an example of how public and private sectors can work together to use technology to help small businesses thrive, ultimately strengthening the country's economic landscape.