Dubai: One thing the World Expo 2020 can do for Dubai is give global recognition of the achievements of its SMEs, or small and medium enterprises, which make up over 90 per cent of registered businesses in the city deeply rooted in trade.

Dubai, one of the five bidding cities to host the monumental exposition, has made great efforts to encourage and develop entrepreneurship among Emirati youth — from funding projects to creating platforms to present their work to the public.

The Mohammad Bin Rashid SME Fund, announced in December last year, will finance around 100 national and entrepreneurial projects annually, and grant 10 per cent of procurements to projects started by Emarati youth.

SMEs in Dubai have grown and thrived in the last two to three years following the financial crisis in 2008.

Colin Beaton, managing director of Limelight Creative Services in Dubai, says the outlook is positive for SMEs. “I think SMEs will provide a lot of economic activity in the run up to Expo 2020. They have very strong growth prospects, and Expo 2020 will do well for them,” Beaton said.

Mark Hirst, CEO of web design company Blue Beetle, says the exposition, given its magnitude, can create many projects for SMEs, which are outsourced by big companies.

“The build-up to Expo 2020 will create work for branding companies, event companies, and digital companies — and all kinds of SMEs. It will boost the whole SME sector,” said Hirst.

For his company, the colossal gathering signalled by the exposition can give it recognition and credibility. “You want to be associated with an event of this calibre. It can boost your image and help you build on your reputation,” he said.

According to Murshed Mohammad, CEO of Yebab.com, a wedding planning portal, the events sector in particular will find huge benefits.

“I have been to one expo in Germany, and a lot of work was done decoration-wise,” he said.

“Businesses will want to update their websites, and develop their marketing campaigns,” he continued.

If the event happens in UAE, Emarati business owners will bag the opportunity to represent their country to millions of people from around the world. “It would bring exposure to Emarati businesses — their capabilities and the quality of their work,” he said.

“It’s a once in a lifetime chance,” he added.

— Sarah Algethami is a trainee at Gulf News