Budding entrepreneurs in Dubai get a new address in Deira

Dubai: Dubai's budding entrepreneurs will soon have a new address, Entrepreneur Business Village - a one million square foot cluster that will cater to the emirate's small and medium enterprises (SMEs).

The Mohammad Bin Rashid Establishment for Young Business Leaders (MBRE) - an entity established by the Dubai Government in 2002 to promote entrepreneurship and SMEs - yesterday said it is inviting small, medium and large businesses and investors to be part of the Village.

"Commercial space within the landmark project in the heart of Dubai will be offered at special rates from June 28 to July 2," a statement said.

The move comes at a crucial time when Dubai's SMEs are struggling to cope with high overheads amid declining sales and revenues - a mismatch that is forcing most companies to undertake cost-cutting measures.

In response, the Dubai Government recently announced a reduction in licensing and business registration fees by up to 30 per cent to support the private sector. The opening of the Village will help many of them to relocate, as the rents are expected to remain attractive.

"The rents at the EBV will be very reasonable and competitive," Abdul Baset Al Janahi, MBRE CEO, told Gulf News in an interview. "Although our mandate is to support UAE national entrepreneurs, at the EBV, we will take applications from the non-national SMEs."

The Village is located adjacent to the Clock Tower roundabout in Deira. Exposing young entrepreneurs to successful businesses, best practices and quality professionals at the Village will benefit both groups and accelerate the growth of small and medium enterprises in the country, Al Janahi said.

A fully integrated business hub, the Village includes purpose-built halls for business conferences and meetings, a child-care centre, gymnasium and health club facilities as well as soon-to-open catering services and retail outlets including Subway, Elmondo, Gloria Jean's Coffee, Fitness First, N.Bar, 1847, Curries & Grills, Apollo Flight Center, China Wall Express and Hatam.

All Village tenants also receive free parking fac-ilities and access to a full-fledged business centre with administrative, consulting, financial and business support services.

"We believe the Village is a great opportunity for small-to-medium business owners and emerging entrepreneurs across the UAE to realise their full potential. We have done as much as possible to create the ideal business environment that encourages networking, partnership building and provides consultancy and training services, all under one roof," Al Janahi said in a statement.

"We are confident that the Village will be a hub for innovative thinking and business practice and an incubator for good ideas and fledgling businesses, and this special offer is our way of opening the door to as many interested and committed partners as possible," he said.

The Village is one of several initiatives from the MBRE to unlock and cultivate the immense business potential among entrepreneurial Emirati, Arab and resident populations, and provides a comprehensive array of services and facilities to drive business.

It is one of many business incubation facilities that are prevalent in the UAE, including at the Tecom, RAK Free Trade Zone, Fujairah Creative City.