Services

Financing program

Funding Programs

“RUWAD” Foundation provides financing programs for small and medium enterprises in the Emirate of Sharjah. These programs aim to enable such entrepreneurs to develop their services and products, meet the needs of customers, and continue the project to achieve the necessary success. In addition, the Foundation pays great attention to the provision of necessary and sufficient financing for the establishment of such projects and the continuation of its activity when providing financial support to such projects. Such thing is one of the basic and important elements to enable the projects to overcome the obstacles to start and achieve its commercial and investment objectives through growth, development, continuity and excellence in services and products. The projects are financed when they meet the required conditions through two programs. One of them is a direct financing program through which the Foundation provides a financial allowance of up to 400,000 dirhams. This comes as part of the financing facilitates granted to establish the pioneering projects, whereby the foundation offers beneficiaries with several privileges through allowing them to pay back the debts within one year only. As for existing projects, they are granted a period of 6 months. Likely, the owner of project is allowed repay the financing amount within two years after the expiration of the allowed period. It is worth noting that the direct financing program offered by the corporation is distinguished whereas it does not entail any profits, interest or bank fees.

As for the indirect financing program, financing is provided for projects with a maximum value of 2 million dirhams through local financial and banking institutions that partner with “RUWAD”, and the Foundation, for its part, bears 25% of the value of the actual facilities required for financing. In this program, new projects are granted a period of one year for repaying the installments of the principal amount of financing provided by the bank. Also, a period of 6 months for existing projects, in addition to giving them preferential privileges related to the profit rate, recovery periods, financing methods and financial guarantees decided according to the activity and work. In both programs, the necessary financing for the project is granted on a competitive basis in accordance with the Islamic finance system.

General conditions for applying for financing programs:

  • UAE citizens must own project. 
  • Project should be located in the Emirate of Sharjah or its affiliated cities.
  • Project should be under the name of the applicant.
  • Project founding date should not exceed 3 years.
  • The number of licenses owned by both the applicant and the partners should not exceed five licenses.
  • The participation of the project owner should not be less than 20% of the total investment costs of the project.
  • To submit a complete and detailed feasibility study in addition to all required documents.

 

It should be noted that the financing programs of “RUWAD” include financing new and existing projects according to the conditions and criteria that suit the category of the submitted project, through the direct financing and indirect financing programs (through banks).

 

A. Direct Financing Program 

 

The Foundation finances small and medium enterprises without interest in an amount not exceeding 400,000 dirhams.

Privileges:

  • The funded project is exempt from interest, profits or bank fees.
  • The project is provided with a period from paying the installments of the finance amount of one year only, starting from the date of receiving the financing amount for new projects, and 6 months for existing projects.
  • The debt should be payed within two years after the end of the provided period.

 

B. Indirect Financing Program

 

The Foundation finances small and medium enterprises in cooperation with banks (Sharjah Islamic Bank) whereas the permissible finance amount reaches 2,000,000 dirhams. 

Privileges:

 

  • “RUWAD” Foundation bears 25% of the total guarantees decided by the bank on the project applying for financing.

 

  • The new project is provided a period of repayment for a period of one year only, starting from the date of receiving the financing amount. On the other hand, the existing project is provided a period of 6 months.
  • The debt should be repaid within 3 to 5 years.
  • Reducing profit rate of not more than 5.85%.

 

Documents required for the financing program (both applicant and partners):

  1.  Studies for the project:
  • A complete and detailed feasibility study.
  • Rating and credit report from the Union of Peru (AECP)

      2.Personal documents:

  • Request addressed to “RUWAD” Foundation.
  • Summary of the project idea.
  • Copy of a valid passport.
  • Copy of family book.
  • Copy of a valid Emirates ID.
  • Copy of the academic qualification and certificate.
  • Biography (CV).
  • Investor licenses statement (Issued by Sharjah Economic Development Department – SEDD).

 

      3.Project documents (for existing projects)

  • Copy of current commercial license.
  • Copy of current lease contract.
  • Copy of current membership in Sharjah Chamber of Commerce and Industry.
  • Financial data for the project.

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

“RUWAD” Foundation seeks to contribute to enhancing the role of small and medium enterprises in the Emirate of Sharjah through the membership program and benefiting from the technical support services by the Foundation. The membership program was launched to provide direct and indirect support services to national projects according to the requirements of each project. The members enjoy competitive package of services, benefits and facilities, in addition to the latest data and developments in the labor market. Such thing creates a benefit for such projects and motivates promotion and development of their services and products. Also, it helps them to join events, exhibitions and conferences, and grants them with appropriate exemptions from fees in many government agencies, leading to building the best supportive environment for entrepreneurship.

 

Membership Conditions:

  • UAE citizens must own project. 
  • Project should be located in the Emirate of Sharjah or its affiliated cities.
  • Project should be under the name of the applicant.
  • Project founding date should not exceed 3 years.
  • The number of licenses owned by both the applicant and the partners should not exceed five licenses.

 

Privileges provided to members:

  1. The project is exempted from the fees of government agencies in the Emirate of Sharjah for a period of 3 years from the date of establishing the project. If the project is and existing one and has not completed 3 years, it is exempt from the rest of these fees. The exemption from the fees includes the following government agencies and departments:
  • Sharjah Economic Development Department. 
  • All the municipalities in Sharjah and its cities. 
  • Sharjah Chamber of Commerce and Industry.
  • Department of Town Planning and Survey.
  • Roads and Transport Authority.
  • Department of Public Works.
  • Department of Housing.
  • Sharjah Electricity, Water and Gas Authority: 50% discount on insurance fees.
  • Sharjah Finance Department: exemption from registration fees
  • Sharjah Police: exemption from fees for issuing permits and technical approvals regarding working hours.
  1. Ministry of Human Resources and Emiratisation: classifying the establishment within the first category in the “incentives” program.
  2. Emirates Authority for Standardization & Metrology: exemption from certifying the quality mark fees.
  3. Expo Centre Sharjah: 50% discount on participation fees in exhibitions and events.
  4. Ministry of Climate Change and Environment: various facilities.
  5. Providing no less than 10% of annual purchases to federal and local government agencies for the benefit of Emirati small and medium enterprises.
  6. The project is exempt from all fees of awareness workshops and training programs organized by the Foundation. In addition, it is provided with a 50% discount from the fees involved in diploma and specialized programs.
  7. The project grants priority to participation in exhibitions and conferences organized by the Foundation, as well as exhibitions and conferences organized by government agencies according to the capabilities available.
  8. Providing investment opportunities for member projects that are provided by the Foundation in cooperation with strategic partners.
  9. Providing the necessary consultations for business development.
  10. Creating and enhancing opportunities for trade exchange among the members of the “RUWAD” Foundation through the (Networking) initiative.
  11. Providing an electronic platform for suppliers and service providers during Expo 2020 Dubai that will last after the event.
  12. Providing the accounting program (ERP) for projects supported by the corporation at a nominal subscription fee.
  13. Obtaining a set of privileges provided by partners and private entities.

 

Service fee:

2000 dirhams to grant support for the project and can be renewed annually.

 

Required Documents for the membership program (both applicant and partners):

  1. Personal documents:
  • Request addressed to “RUWAD” Foundation.
  • Summary of the project idea.
  • Copy of a valid passport.
  • Copy of family book.
  • Copy of a valid Emirates ID.
  • Copy of the academic qualification and certificate.
  • Biography (CV).
  • Investor licenses statement (Issued by Sharjah Economic Development Department – SEDD).

 

     2. Project documents (for existing projects)

  • Copy of current commercial license.
  • Copy of current lease contract.
  • Copy of current membership in Sharjah Chamber of Commerce and Industry.
  • Financial data for the project.

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:

Concept
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.

Consultation Services

“RUWAD” provides a set of consulting and advisory services to enhance the competitiveness of small and medium-sized enterprises, as follows:

  • Consultations to evaluate and develop project ideas.
  • Marketing consultation.
  • Feasibility study consultation. 
  • Financial consultation.
  • Administrative consultation to develop project work systems.

Training Programs

“RUWAD” provides an annual training plan that includes many topics designed to meet the needs of entrepreneurs in establishing, managing and developing their projects. These training programs provide the entrepreneurs with the needed skills and knowledge to run their projects from early stages until they expand in the future. 

Through a set of comprehensive and specialized programs provided by “RUWAD”, such entrepreneurs will be introduced to the foundations, conditions, and tools to success in the market in the following areas:

  • What is the opportunity? What is the idea?
  • How to start your project?
  • Why do small businesses fail? How do you succeed?
  • How to prepare the feasibility study for your small business?
  • How do you enhance your competitiveness and continue to succeed?
  • How to avoid financial failure in your small project?
  • How do you determine your financial needs? How to reduce the cost?
  • How do you develop your administrative, leadership and creativity capabilities?
  • How do you manage and develop your project without interruption?
  • How do you finance your small business?
  • What are the promising sectors for investment?

It should be notes that the programs are carried out and implemented by a group of specialized experts who have full knowledge about the nature of small enterprises in UAE. They are also organized in cooperation with many international bodies that are specialized in training the small and medium enterprises.

Business Development

The idea is the basis, skills, abilities, experiences and personal characteristics and are the requirement tools for success, planning, organizing, sustainability and creativity. Also, “RUWAD” creates a long-term added value for small and medium enterprises from clients, markets and relationships through its programs. In addition, the business development programs enable individuals from knowing how the interactions of various forces can be combined together to create opportunities for growth. Furthermore, the value that the Foundation works for focuses on creating a sustainable strategy for project operations, tracking new technologies and changes in business models, in order to meet project owners’ expectations to keep the opportunities available, so that such value can flow indefinitely.

Moreover, thinking of business development as a way to create long-term value is the only real way to succeed in developing projects continuously. Therefore, “RUWAD” starts such program by motivating citizens to create their own projects by searching for new categories, looking for and discussing the latest business sectors, and developing existing projects. It also included obtaining the Emirati quality mark, developing the franchise sector, improving technical aspects such as artificial intelligence programs and smart transformation its relationship to entrepreneurship and legal aspects, in addition to developing the skills and capabilities of projects owners through organizing development programs outside the country.

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