Powering Growth: Shams' Dynamic Support for SMEs in Sharjah
27 - 07 - 2023
Shams is on a mission to bolster the SME sector in Sharjah, creating an ecosystem that nurtures innovation and supports creative entrepreneurs. By launching business-friendly initiatives and providing new opportunities, Shams aims to provide a conducive environment for SMEs to thrive and flourish in the emirate. Let's explore some of the key ways Shams is supporting SMEs in Sharjah to unlock their full potential.
1) Financing Support:
Securing funding is often a daunting challenge for startups and SMEs. To address this, Shams has forged a strategic partnership and guarantee scheme agreement with Funding Souq, a venture debt platform. Through Funding Souq's crowdfunding platform, eligible businesses can secure financing while benefiting from Shams' loan repayment guarantees.
The partnership aims to create an ecosystem where startups and SMEs have better access to funding, empowering them to focus on growth and innovation. Additionally, Shams has partnered with Mashreq Bank to streamline the process of opening bank accounts for startups. Through Mashreq's NEObiz Digital Account, entrepreneurs can quickly establish banking relationships, further facilitating their business operations.
2) Low Setup and Business Costs:
Shams understands the importance of keeping setup costs manageable for entrepreneurs. As a result, it offers cost-effective options for those looking to establish businesses in Sharjah. Unlike many other free zones in the UAE, Shams boasts one of the lowest setup costs, starting from just AED 5750.
3) Shams Launches Trader Package:
With UAE’s fast-expanding e-commerce market estimated to cross USD 8 billion by 2025, this is the perfect time to invest in the sector. In view of this, Shams’ Trader Package has been designed to attract SMEs and startups in the MENA region. Combining two services in one; businesses with the Shams’ Trader package can accelerate their growth in e-commerce activity as well as general trading (including import and export). Traditionally, e-commerce owners needed two different licenses to sell online and import products. The cost-effective trader license has made the licensing process more cost-effective by merging two services in one.
Shams is deeply committed to fostering innovation and creativity in the media sector, aligning with Sharjah's vision as a global center for culture and civilization. By nurturing human talent and supporting novel ways of working, Shams aims to elevate the emirate’s business scene to greater heights. Through regular workshops and initiatives, Shams endeavors to refine the skills of professionals and entrepreneurs, equipping them with knowledge in various media disciplines. With an unwavering belief in creative ideas, Shams serves as a catalyst for transforming concepts into tangible initiatives that set new industry standards.