Beehive, MENA’s first regulated peer to see lending platform, has launched an insightful new report revealing the state of MENA’s SME ecosystem, the identical week as the corporate celebrates its fifth birthday.
The report relies on quantitative and qualitative SME analysis, together with a survey of 175 SME house owners and senior administration and a roundtable of 13 distinguished SME founders / CEOs.
Key findings from the report embody:
Surveyed MENA SMEs have extra ladies in senior positions than the worldwide common.
28% of respondents see innovation as a precedence for development, but solely 2% of enterprise house owners are at present making an attempt to entry finance to fund it.
SMEs provide younger folks an amazing alternative for improvement. 48% of SMEs would rent somebody underneath 25 with no expertise.
The report targeted on key areas that influence SMEs comparable to expertise acquisition, innovation and development elements. The survey outcomes confirmed constructive indicators comparable to SME urge for food for market enlargement and the chance for ladies in enterprise.
The area additionally fares properly as a number one vacation spot for younger folks to start out their careers in start-ups and SMEs. This reputation has the potential to determine MENA as a hotbed of budding entrepreneurs.
Within the report, SMEs spotlight challenges and areas the place they really feel they may profit from extra assist initiatives to assist them drive development, comparable to innovation. In addition they discuss new methods of working with a purpose to keep aggressive and benefit from enterprise alternatives.
The report is launched as Beehive celebrates a key milestone of 5 years of operation. Launched in 2014, the corporate has grown from a start-up to develop into main fintech SME within the area with a crew of 30 within the UAE and an additional 17 staff in Thailand. The corporate has additionally just lately expanded to Bahrain and has additional thrilling enlargement plans in 2020.
Craig Moore, Beehive CEO commented: “We’re delighted to be celebrating 5 years of operation within the area and really a lot see Beehive as an SME for SMEs. Throughout our 5 years now we have amassed a major quantity of knowledge which supplies us a useful perception into the SMEs panorama. This report digs deeper to evaluate their enterprise challenges and alternatives, in addition to their attitudes and opinions as SME house owners and senior administration.”
Beehive P2P Ltd. is the primary peer to see lending platform in MENA to be regulated by the DFSA. Beehive immediately connects companies in search of finance with traders, creating mutually helpful partnerships for development. Beehive’s digital platform supplies smarter finance options to companies, monetary establishments and traders. By combining monetary market expertise with expertise, we speed up effectivity and performance to ship market innovation.