Financing program

Sharjah Entrepreneurship Foundation “Ruwad” aims through its financing program that support entrepreneurs and national projects to expand sme development in Sharjah.
This mission comes in line with the directives of the wise leadership in supporting national projects and calling young people to join the market.
It should be noted that the Foundation provides many benefits through DIRECT and INDIRECT financing programs.

Direct financing

Microfinance program
This program aims at projects that do not exceed the cost of about 300 thousand dirhams in the framework of granting financing facilities to establish new enterprises.
The Foundation grants the beneficiaries the following privileges:

  • The project owner shall be exempted from paying the installments of the financing during the first year of incorporation
  • The project shall be exempt from profits, interest or bank charges.
  • The owner of the project shall be granted a period of three years to pay the amount of the financing after the end of the first year of incorporation.

Financing program in cooperation with banks
The financing program, in cooperation with the banks, aims at projects that cost more than AED 300 thousand. In such program, the Foundation grants beneficiaries the following privileges:

  • The Foundation bears 25% of the total guarantees determined by the Bank on the applicant to fund the project.
  • The Foundation bears he percentage of bank profits on financing for the first year from establishing the project.
  • Project owner will be granted with a general grace period for the payment of principal installments of the Bank’s financing.

Indirect financing

This program is conducted through non-financial support (the needed support is granted to entrepreneurs by cooperating with government organizations to provide necessary exemptions and facilitates).

Exemption of projects for three years from licensing fees from the following government organizations:
– Sharjah Economic Development Department (SEDD).
– Sharjah Chamber of Commerce and Industry.
– Sharjah City Municipality.
– Sharjah Electricity and Water Authority (SEWA)
– Sharjah Directorate of Public Works (Registration Fees).

Exempting projects from bank warranty of the Ministry of Human Resources & Emiratisation.

Granting participated projects with number of privileges and 50% in the exhibitions held in Sharjah Expo Centre.

Supporting projects to obtain legal, financial and administrative consulting services at reduced costs through accredited bodies and institutions from “Ruwad” Foundation.

Support projects to obtain advanced technologies and provide advice as well as guidance through the partners of the Foundation of specialized international institutions.

Providing information and studies on the investment opportunities available in different sectors of small and medium enterprises in the Emirate of Sharjah.

Supporting projects with government agencies and the private sector to give priority to contracts and procurement for such projects.

General conditions for financing

Beneficiaries of financing programs must meet the following requirements:

Project owners should be UAE citizens (local)

The applicant shall participate in financing the project by at least 20% of the total investment costs of the project.

Provision of a detailed feasibility study about the project is a must.

Submission of an application to the Foundation with he required data and conditions for obtaining funding support is a must

Membership program

Sharjah Entrepreneurship Foundation “Ruwad” seeks to expand the base of small and medium enterprises in Sharjah to maximize the benefit of the national entrepreneurs to take advantage from the technical support services provided by the Foundation. The membership program is created to offer the needed support services for the national projects according to the needs of each one.

Membership program objectives
The membership program achieves number of objectives such as the following:

  • Expanding the base of emerging national projects benefiting from the services of “Ruwad” Foundation.
  • Developing non-financial technical support programs to improve the efficiency and performance of SMEs.
  • Creating a large base of small enterprises in different economic activities to build a network of cooperation and integration among them under the umbrella of “Ruwad” Foundation.
  • Developing mall enterprises in accordance with the mechanisms and requirements of the labor market and working on enhancing their competitiveness.
  • Creating a link between government organizations and institutions, private sector and the SME sector.

Membership privileges

The Beneficiary Member shall be granted the following privileges:

  • Joining the local and inferential relations network.
  • Pursuing the project and providing development and improvement consultation.
  • Granting the members with the priority to benefit from the programs, projects or activities of the Foundation with limited participation.
  • Representing the Foundation in internal and external authorities in the events or meetings.
  • Working under the patronage of “Ruwad” Foundation to strengthen the bonds of cooperation with the local and international business environment.

Membership services
The Membership Program provides the following services to beneficiaries:

  • Exemption from the bank guarantee of the Ministry of Human Resources & Emiratisation.
  • Participation in promotional activities, either by published or printed materials, or in any way that the Foundation believes that it is a good way for promote the projects of the members.
  • Giving members a reduction of up to 50% of the fees for participation in exhibitions held at Sharjah Expo Centre.
  • Providing reduced legal services.
  • Providing technological interconnection with international bodies and companies specialized in technology support for various economic activities.
  • Offering investment opportunities for member projects provided by the Foundation in cooperation with strategic partners.
  • Providing financial advice and accounting services at nominal fees.
  • Providing studies and consulting required for business development.
  • Supporting members of the government and the private sector to give priority to obtaining purchases and commercial contracts. Also, offering the necessary exemptions and reductions after the approval of the concerned parties.
  • Providing training programs to raise the level of performance with nominal fees.
  • Supporting member projects to obtain Franchise opportunities to enhance their competitive position.
  • Granting the opportunity to participate in international exhibitions related to the project in which the Foundation participates at or at which Sharjah Commerce & Tourism Development Authority takes part at.

Membership condition

  • To be an Emirati citizen (local).
  • Applicant should not have more than five licenses.
  • Project should be implemented in Sharjah.
  • Project must be in the name of the applicant.
  • Organization should approve the admission application after studying the project.
  • Project should not be existing in the market for more than five years.
  • Exemption from the bank guarantee should be granted to the Ministry of Human Resources & Emiratisation after one year from the date of actual commencement of the activity (moved to privileges or canceled).
  • Project must adhere to Foundation’s instructions and requirements after joining the membership.
  • The Foundation have the right to suspend or terminate the membership if the violation of the project proves the conditions, procedures or rules.
  • To obtain exemptions from the bank guarantee of the Ministry of Human Resources & Emiratisation, the number of project employees shall not be less than 4 employees in the project.

Membership duration

Membership duration should be at least three years.

This membership can be renewed by a decision of the Board of Directors of the Foundation based on the study of the request submitted by the renewal of the member.

Also, the Board of Directors or the Executive Committee have the right to extend the period of membership if it was a distinguished one to promote the distinctive national projects.

Required documents for Memebrship

  • A study containing a general summary of the idea of the project.
  • Copy of valid trade license when application is submitted.
  • Detailed list of the employees working in the project.
  • Disclosure of the number of licenses owned by the applicant or all partners.
  • Company statement for the last six months.
  • A statement of current loans obtained from banks to finance the existing project (if any).
  • The company’s budget for the last year.
  • Submit the copy of the lease after authentication.
  • Copy of the Commercial Register.
  • Copy of passport, and family book for the owner of the project and all partners (if any).
  • Two personal photos.
  • CV of the project owner and all partners (if any).
  • Detailed project information include the following aspects:
    • Detailed description of project activities and services.
    • A summary of the project work plan for the next three years includes the following:
      • The current project position, potential future opportunities and the proposed development plan.
      • Detailed data on the target market and the quality of customers and competitors, current and potential.
      • Analysis of opportunities and challenges as well as the strengths and weaknesses of the project.

Required documents when applying for Membership

  1. Fill in the registration form.
  2. Request to “Ruwad” Foundation.
  3. Copy of passport, family book, and ID (applicant and partners).
  4. Copy of academic qualification (applicant and partners).
  5. Applicant and partners CV.
  6. Statement of licenses owned by the applicant.
  7. Copy of commercial register and partnership contract (for existing companies).
  8. Copy of tenancy contract (for existing projects / new projects in the actual incorporation stages).
  9. A statement of current loans obtained from banks to finance the existing project.
  10. Account statement for the last 6 months for the salary of the applicant (if any).
  11. Statement of account for the last 6 months (existing projects).
  12. Final budget for the last two years (existing projects).

Government Procurement

Through this program, “Ruwad” Foundation aims to establish strategic partnerships with the federal and private companies in UAE to support to objectives of the Government Procurement Program in the country. This program can e attained by allocating a percentage of the annual procurement contracts to these entities to the benefit of the registered members of the program. Also, these partnerships are considered an added value for program members in providing the facilities and professional expertise needed to develop these projects.

Program objectives

  • Signing contracts and deals with major governmental institutions in Sharjah.
  • Providing necessary facilitates and support to the members of the program to develop and improve such program.
  • Promoting program members to supporting bodies.
  • Providing suitable opportunities for contracting with the supporting bodies.
  • Spreading the spirit of competition between the institutions of the members and the likes of the private sector.
  • Participating in exhibitions and conferences organized by the program.
  • Developing the level of the member’s facilities to a high level of quality, through the training plans and programs.

Membership conditions
Membership requirements in the Government Procurement Program include the following:

  • The establishment must be registered in the Emirate of Sharjah.
  • Must be owned and managed by UAE citizen (local).
  • Must be classified as a small or medium project.
  • The existing project should be there in the market for one year at least form the date of applying for membership program.

Business incubators

Sharjah Entrepreneurship Foundation “Ruwad” provides many marketing advices and consultations to its members. Some of these consultations include the following:

Business incubators can be defined as a dedicated environment to assist entrepreneurs in the field of management and development of small and medium enterprises. Such environment pays attention to location, facilities, services, support mechanisms, consulting and organization.
Also, it works to sponsor and support these projects for a limited period, relieving entrepreneurs of the usual risks and providing these projects with greater opportunities for success through a legal entity established for this purpose.

Why to have a business incubator?
• to increase the chance of success of new projects.
• to provide a suitable environment for small projects and to protect them at their first stages.
• to transform research and studies into projects and products that can be marketed.
• to support the skills and creativity of new entrepreneurs.
• to provide strong and competitive projects that meet the needs of the community which are able to continue and develop.

<span style=”color: #3dbacc;”>Features and services offered by ruwad and sharjah expo centre</span>
• Providing the company’s headquarters with a nominal value of AED 10,000.
• Providing legal advice.
• Providing training services.
• Providing marketing advice.
• Providing needed halls for activities and meetings held by entrepreneurs.
• Participating in local and international exhibitions organized or sponsored by “Ruwad” Foundation and Sharjah Expo Center.
• Exemption from license fees from Sharjah Economic Development Department “SEDD” and Sharjah Chamber of Commerce and Industry.
• Becoming a member in “Ruwad” Foundation and enjoying the privileges the offered by the Foundation.
• Benefiting from the services provided by the incubator to the affiliated companies.
• Increasing the chances of obtaining support and funding for the Foundation according to the need of the project and its future plan and in accordance with the standards and conditions of the Foundation.
• Supporting the projects of members to obtain commercial franchise opportunities to enhance their competitive position.
• Joining the local and international relations network.
• Pursuing the project and providing the needed development and improvement advice by the Foundation.

Admission conditions for business incubators center
• Applicant or the partners should be UAE citizens (locals).
• Applicant age should not be more than 48 years old and not less than 21 years old.
• Proposed project should go in line with the main directions of the incubators center.

Required documents
Copy of passport and family book (applicant and partners).
A statement from Sharjah Economic Development Department “SEDD” stating that the applicant doesn’t obtain a license.
Submitting incubator data form.
Submitting the CV of applicant and partners, if any.

Administrative consulting

Sharjah Entrepreneurship Foundation “Ruwad” provides several administrative consultations to its members through four programs which are stated below.

First program entrepreneurship
The program depends mainly on providing support, guidance, and motivation to the needed ones.
Also, this program, which is based on the concept of training and motivation, aims to take the entrepreneur on a ninety-day journey to set up the project as a journey to create a business that has all the elements for success.

Second program: preliminary feasibility studies
The program targets project owners whom seek to do feasibility study for their businesses.
they believe that the   such study will help them to have a better idea about the economic feasibility of the project or the needed funding from certain resources, either supporting organizations or commercial partnerships.

Third program: small project’s strategic planning
This program aims toward the entrepreneurs who want to develop a strategic plan for their project in line with their personal vision.

Fourth program: preparing business and operational plans
Ruwad helps entrepreneurs to prepare professional work plans step-by-step in record time.
therefore, this program is aimed toward the entrepreneurs who wish to develop a working plan for their business until they start conducting it.
such plan will help these projects to continue and grow as competitive projects according to ambitious, applicable, and realistic plans that are well studied and placed.

Financial consulting

Sharjah Entrepreneurship Foundation “Ruwad” provides several financial consultations to entrepreneurs such as the following:

First program: preparation of financial plans
This program targets entrepreneurs who wish to develop financial plans either to obtain financial support or to obtain partnerships and business alliances.
these plans help in demonstrating the strength and stability of company’s financial position and its expansion plans in the future as well as benefiting from decision-making process in the project based on a distinct financial plan.
“ruwad” also helps entrepreneurs to write a financial plan in a professional way and in recorded time.

Second program: facilitating financial support for small enterprises
This program is aimed toward entrepreneurs who want to gain financial support to help them in the process of starting their businesses.
thus, “ruwad” helps entrepreneurs and owners of small enterprises to prepare financial studies and reports to facilitate access to funding by government or private support agencies.

Marketing consulting

Sharjah Entrepreneurship Foundation “Ruwad” provides many marketing advices and consultations to its members. Some of these consultations include the following:

First program: strategic marketing plan for small enterprises
This program targets the entrepreneurs who wish to develop a strategic marketing plan for their project.
it also includes the development process of the marketing map so that the owners of businesses will have a clear idea about marketing and executive operations.
all of these things will be carried out during the first period of the project’s life.

Second program: creating the brand or trade mark
This program aims toward entrepreneurs who want to create a brand and spread it in the market as well as to customers.
such a thing is done in order to build a project of commercial value in the market in addition to the marketing value of the assets in that project.
also, it intends to develop a plan therefore to spread such brand in coordination with all company’s activities, policies and procedures.

Third program: web design and social media
This program targets the entrepreneurs who wish to have a professional website that represents their business in a professional manner to their clients to give credibility to the project.
also, it provide advice on how to benefit from social media sites to settle new projects.

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