CSR Program launched by Dubai Chamber to help SMEs in the Emirate
Professional resources and advice will be offered according to tailored needs by pairing large companies with SMEs.
The Business Mentoring and Support Program (BMS), has been launched by the Dubai Chamber of Commerce and Industry. This is a CSR initiative meant to help SMEs, which are Small and Medium-sized Enterprises, within Dubai. The purpose of this initiative is to help businesses in coping with the strong impact of the COVID-19 crisis.
As part of the program, the SMEs in the country are paired with bigger companies who then provide professional resource and advice. This setup helps save the smaller enterprises from bankruptcy.
Considering the challenges these days, it was quite natural for Dubai to make this move. The program has some basic aims, which include creating a support ecosystem for businesses to strengthen links between SMEs and large companies. This can be done by offering participants training, recognition, and chances for business partnerships, CSR support, and mentorship.
Awareness programs will be delivered by the Centre for Responsible Business. These programs focus on dual benefits of support and mentoring, so that the pool of supporters and mentors can increase from big organizations and in order to attract SMEs in Dubai for participation purposes. In simpler words, the program will provide its participants, mentors, and supporters for better outcomes.
The Coca-Cola Company, as part of the program, will be donating $240,000 worth of products to around 3,000 small stores and restaurants within the United Arab Emirates (UAE). They will also be donating 250,000 face masks for protection against the virus. Moreover, it plans on advising retailers with social awareness campaigns and in-store safety communications, so encourage customers to support their local businesses.
Other businesses in the United Arab Emirates (UAE) have also started to participate in this program. Just last month, (KIZAD), the Khalifa Industrial Zone Abu Dhabi, unveiled the new economic stimulus package by saving up to thirty-six percent for SMEs and companies working in the free zone during the COVID-19 crisis.