Dubai, 2 August 2017: Mohammed Bin Rashid Fund (MBRF), the financial arm of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector – has appointed Metis Management Consultancy to conduct post-fund monitoring services for all the companies supported by the Fund.
The partnership will enable SMEs assisted by Mohammed Bin Rashid Fund to have greater access to hands-on experience from a highly skilled and professional consultancy team. The Metis consultancy includes routine checks, guidance, and financial advisory support that will help in foreseeing and planning for potential risks.
“Public-private partnerships are critical to the strategy of Dubai SME and the Mohammed Bin Rashid Fund to empower entrepreneurs and their startups in their growth and evolution. We are delighted to have Metis Management Consultancy as our partners and together we look forward to SMEs supported by the Fund to stay different, pursue innovations, and grow sustainably,” remarked Saeed Matar Al Marri, Deputy CEO of Dubai SME and Director of MBRF.
The Mohammed bin Rashid fund provides three loan schemes to SMEs - Credit Bank, Seed Capital Loan and Invoice/LPO Finance. Once approved, the company receives the loan and proceeds with operations, however, they are always encouraged to provide performance updates to MBRF in order to confirm that they stay on course and achieve their targets. Metis is now responsible for representing Mohammed Bin Rashid Fund with all the SMEs they fund, and will handle all the post-fund monitoring operations and report back to Mohammed Bin Rashid Fund.
“We believe this strategic partnership will allow MBRF to continue supporting the SME sector on a higher level, while Metis will deep-dive to help achieve the SME's goals - enabling success,” stated Nayef Shahin, Founder and Managing Partner at Metis Management Consultancy.
The partnership means guaranteed support for SMEs whenever they need to ask questions, bounce new ideas, or even re-plan or budget their forecasts. It also marks a milestone for Metis, allowing the firm to cement its position as a consultancy focused on providing services to SMEs.