“Sheraa” launches the “Stability Fund for Entrepreneurs” with 5 million dirhams

Yesterday, the Sharjah Entrepreneurship Center “Sheraa” launched the “Al-Thābah Fund for Entrepreneurs,” under the directives of Sheikha Bodour bint Sultan Al Qasimi, Chairwoman of the Center, with the aim of providing rapid financial and operational support to emerging companies and small and medium enterprises active in the emirate’s market, in addition to companies within the “Sheraa” portfolio.

The value of the fund amounts to five million dirhams, with support from strategic partners from government and private agencies, and aims to provide targeted support to companies operating in vital sectors related to national resilience, which include manufacturing, food security, health care, and other fields.

The fund contributes to supporting business continuity and enhancing economic stability in conjunction with the “Proud of the Emirates” campaign by supporting companies and enabling them to continue their work efficiently.

In providing support to active companies in the Emirate of Sharjah, the “Stability Fund” adopts a simplified evaluation mechanism that accelerates the making of financing decisions and ensures their timely arrival. It provides non-refundable grants without royalties, in addition to an integrated program that includes guiding companies to reach opportunities that enhance their presence in the market and expand the scope of their business, and focuses on supporting companies that face immediate challenges resulting from external circumstances in a way that enhances their ability to continue and adapt steadily.

Sheikha Bodour bint Sultan Al Qasimi, President of the Sharjah Entrepreneurship Center “Sheraa”, said that Sharjah’s vision stems from a firm belief in the importance of building a flexible and renewable economy led by knowledge, innovation, and the spirit of entrepreneurship, and that this vision is achieved through systems capable of moving with awareness and precision in moments that require clarity and decisive decisions.

She added: “At Sheraa, we believe that our responsibility is to enable entrepreneurs to continue progress without losing their momentum, and to enhance their ability to deal with changes with confidence and stability in a way that supports the continuity and growth of their businesses, and the (Stability Fund) comes as an extension of this approach by providing practical and targeted support that enhances business continuity, strengthens the system, and pushes it towards further development and sustainable growth.”

For his part, the Minister of Economy and Tourism, Abdullah bin Touq Al Marri, said: “The launch of the (Stability Fund) represents a new initiative within a series of initiatives launched by the Emirate of Sharjah to support this vital sector, and reflects its commitment to empowering entrepreneurs and owners of emerging companies and protecting small and medium enterprises and increasing their flexibility, especially in light of the current circumstances and changes, which contributes to developing the efficiency of the national entrepreneurship environment and raises its ability to continue economic activity with high efficiency and competitiveness, and consolidates the UAE’s position as an attractive global destination for emerging companies. And pioneering projects at the regional and international levels.

In turn, Vice President of the Sharjah Entrepreneurship Center “Sheraa”, Najla Al Midfa, said: “The (Stability Fund) for entrepreneurs embodies the vision of (Sheraa) that the value of the system appears precisely at these moments by providing clear and appropriate practical support that enables entrepreneurs to continue with confidence and ensures that the challenges of the present do not limit the potential that the future holds for the economy.”