The region’s renowned entrepreneurial development organization Khalifa Fund for Enterprise Development (Khalifa Fund) has unveiled a new comprehensive metrics to evaluate the performance of SMEs.
The newly introduced ‘SME Rating’ assesses SMEs through several critical financial and operational evaluation criteria including human resources, financial and productivity management and business sustainability to provide a holistic overview of the operations, logistics, and overall performance of these organizations in a digital classification system.
The tool enables owners of small-medium size business units to get an accurate understanding of their strengths and weaknesses to ensure the unit maintains the required standards of operations.
The system supports SMEs with an enhanced business evaluation process which remains accurate and efficient allowing Khalifa Fund’s business counselors to optimize business operations through site-visits and interactions to improve the unit’s performance.
“Khalifa Fund is extremely excited to launch this innovative and resourceful tool. Our objective is to of give our SMEs the opportunity to excel further through the provision of a platform that will allow them to grow and improve.
“The idea behind the SME Rating is to provide a system which best assists entrepreneurs with navigating and identifying their strengths and weakness to best determine the most optimal business decisions for the benefit of their organization, and thus leads to an ever-advancing UAE entrepreneurial ecosystem.”
The acting CEO further added that the “Khalifa Fund actively contributes towards the positioning of the UAE as a global leader for entrepreneurism. Through the development of tech-savvy platforms such as the SME Rating, Khalifa Fund is showcasing its support and dedication towards the long-term production of imperative services and platforms that promotes the integration of entrepreneurism and innovation.”
The solution which will be launched as a web-platform will allow Khalifa Fund’s business counselors to accurately measure the fundamental elements of any business.