Dubai launches new program to support Emirati retirees in starting their own businesses 2024

The government of Dubai has launched a new program called the Dubai Retiree Projects Support program to encourage retired Emiratis to start their own businesses. The program offers a range of benefits and incentives, including priority for government contracts, financing of future projects, exemption from service fees for five years, and consultation support. The program also aims to create additional job opportunities for retirees and those approaching retirement.

This is a great initiative that will help retirees use their skills and knowledge to develop small businesses in Dubai. It’s heartening to see the government take proactive steps to create a more supportive social system.


Dubai Retiree Projects Support program

The “Dubai Retiree Projects Support” program is part of the Dubai Social Agenda 33, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, under the theme “Family: The Foundation of Our Nation.”

The program is a collaboration between the Dubai Police General Command and Dubai’s Department of Economy and Tourism, which is represented by the Mohammed Bin Rashid Establishment for Small and Medium Enterprises (Dubai SME).

The program aims to support projects launched by retirees through the Mohammed bin Rashid Fund for SME, in line with Dubai Social Agenda 33’s objective of turning Dubai into a hub for SMEs.

Calling all retirees and soon-to-be retirees in Dubai! Are you brimming with experience and wisdom, waiting for the next exciting chapter? Look no further than the Dubai Retiree Projects Support program!

This amazing initiative is all about empowering YOU to turn your dreams into reality. Here's what awaits:
  1. Unleash Your Expertise:
  • Start your own small or medium business (SME) and leverage your valuable skills.
  • Get priority access to government projects and make a real impact.
  • Benefit from a dedicated database matching your expertise with business opportunities.
  1. Financial Support and Guidance:
  • Enjoy 5 years of exemption from service fees, easing your launch journey.
  • Access financing and training to equip yourself for success.
  • Receive expert consultations to plan your next chapter and thrive in retirement.
  1. More Than Just Business:
  • Discover additional job opportunities to supplement your income and stay active.
  • Connect with mentors and peers through a dedicated retiree council.
  • Find support and resources to ensure a happy and fulfilling retirement.
Ready to join the journey? Apply through Dubai SME and unlock your full potential! Remember:
  • This program is for Dubai citizens only.
  • You can apply as a retired individual or someone nearing retirement.
  • Dubai SME offers a comprehensive support system to guide you every step of the way.

Dubai's Got Your Back: Retirees, Unleash Your Entrepreneurial Spirit!

Retirement is a new chapter, not the end of the story. And Dubai is writing an exciting new chapter for its retirees with the launch of the Dubai Retiree Projects Support program. Forget rocking chairs and bingo nights – this initiative is all about empowering experienced individuals to pursue their entrepreneurial dreams!

Here’s how Dubai is supporting its silverpreneurs:

  • Start your own small or medium business (SME): Leverage your wealth of knowledge and expertise to build something new and exciting.
  • Get a head start on government projects: Gain priority access to lucrative contracts and make a real impact on your city.
  • Save money with fee cuts: Enjoy five years of exemption from service fees, making your business launch more affordable.
  • Benefit from expert guidance: Access valuable consultations and training to ensure your venture thrives.
  • Connect with a supportive community: Join a dedicated retiree council for mentorship, networking, and shared experiences.
  • Find additional job opportunities: Supplement your income and stay active with roles that match your skills and interests.

This program is open to:

  • Dubai citizens who are already retired.
  • Individuals nearing retirement who want to plan their next chapter.

Dubai Retiree Projects Support: Empowering Silverpreneurs and Boosting the SME Landscape

Dubai’s ambition to be a leading city of the future extends beyond glittering skyscrapers and cutting-edge technology. Recognizing the valuable experience and expertise of its retirees, the city has launched the dubai retiree projects support program, a targeted initiative to empower retired Emiratis and unlock their entrepreneurial potential.

This program goes beyond offering financial incentives like priority in government projects, fee exemptions, and financing support. It actively connects retirees with the right opportunities through a dedicated database that matches their skills with market needs. Additionally, retirees receive consultation and training to navigate the complexities of starting a business.

This strategic intervention addresses several key objectives:
  1. Harnessing Retiree Expertise: Leveraging the wealth of knowledge and experience of retirees to contribute meaningfully to UAE’s development.
  2. Boosting the SME Sector: Encouraging retirees to start small and medium businesses (SMEs), a vital pillar of the national economy and a driver of social and economic stability.
  3. Promoting Active Aging: Providing retirees with meaningful opportunities and financial independence, leading to a happier and healthier retirement.
The program aligns seamlessly with Dubai’s broader initiatives like:
  • UAE Smart City Initiatives: Leveraging technology and innovation to create a seamless and efficient environment for businesses.
  • UAE Future Foundation Initiatives: Focusing on future-oriented areas like foresight, knowledge dissemination, and capacity building.
  • UAE Government Initiatives: Prioritizing social welfare, economic growth, and sustainable development.
However, venturing into entrepreneurship presents its own set of challenges, even in a supportive environment like dubai. Some common hurdles faced by new businesses include:
  • Limited Ownership: Foreign entities must navigate regulations regarding local partnerships or limitations on ownership.
  • Finding Local Partners: Identifying a reliable and compatible local sponsor or partner can be challenging.
  • VAT Compliance: Adapting to the value-added tax system and ensuring timely registration becomes crucial.
  • Cultural Considerations: Understanding and respecting local social norms and religious practices is vital for business success.
  • Real Estate Costs: Renting or acquiring commercial space can be expensive, requiring careful planning.

Despite these challenges, the Dubai Retiree Projects Support program offers a valuable platform for retirees to overcome these hurdles. By combining their experience with the program’s comprehensive support system, retirees can become successful entrepreneurs, contributing to their own financial well-being and dubai’s future.

This initiative serves as a model for other regions seeking to tap into the immense potential of their retired population. By fostering an environment that nurtures talent regardless of age, we can unlock new avenues for economic growth and build a more inclusive and vibrant society.

Beyond Challenges: Embracing Support

While these challenges may seem daunting, remember there are resources and support systems available. Partnering with a PEO, legal advisors, and cultural consultants can ease your journey and help you navigate the complexities of doing business in the UAE. With careful planning, local knowledge, and a spirit of adaptability, you can overcome these obstacles and thrive in this vibrant and rewarding market.

Ready to set sail? Let these navigational beacons guide you towards a successful business venture in the UAE!

Our company AHG can help you establish your company or investment, by providing integrated and specialized services, which ensure the success of the project and the achievement of its goals. Therefore, contacting us is an essential step to achieving success in business.

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