In the UAE, 93% of Small Businesses Intend to Expand Overseas

The majority of small and medium enterprises (SMEs) in the UAE aim to expand their operations and enter international markets, considering the increasing integration of digital payments into the mainstream.

According to a survey by Visa, a global payments giant, 93% of business owners in the UAE have identified "expanding into new geographies" as a key focus for growth.

Notably, this percentage is higher than the global average of 79% for entrepreneurs seeking to enter foreign markets.

Saeeda Jaffar, Visa's SVP and Group Country Manager for GCC, highlighted the evolving landscape, stating that small business owners can now operate on a borderless scale, a shift from the traditional view where only large businesses had the capacity to reach customers nationwide or globally.

“We’re seeing the small business mindset shift from survival mode to growth mode, as SMBs harness the power of digital payments to improve efficiencies, reach new audiences and simply thrive in today’s increasingly digital world.”

A recent survey by Visa shows that all small business owners in the UAE aspire to embrace cashless transactions in the future, with 42% planning to make the transition within the next two years.

The shift towards cashless payments is gaining traction, as 75% of shoppers are projected to increasingly use digital payment methods this year.

Moreover, a significant 83% of UAE consumers, surpassing the global average of 72%, express comfort in making cross-border purchases.

Source: Cleofe Maceda, Zawya