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EXPERTS urged increased trust between banks and the SMB (small and medium business) sector.
Speaking at the first International Consultants Conference in Dubai, they observed that SMBs in the Gulf lacked managerial capabilities to fight the global financial downturn.
SMBs constitute 94 percent of the total projects in the UAE, followed by 92 per cent in Bahrain, Oman and Qatar, 78 per cent in Kuwait and 75 per cent in KSA, according to the Planning and Economy Department in Abu Dhabi.
Conference director Dr Huda Sulaiman Al Jasem said: "SMBs have found it really difficult to absorb what is going on and its impact on its daily operations and strategic vision. This shows the importance of getting the best in consultancy to come out of the crisis with the least damage."
