|Creating work for young people in the region is one of the goals of SME support- Jun-23|
When Mansoor al-Tamimi left his job at a government-affiliated company three years ago to set up a business offering marine services to Abu Dhabi’s oil and gas industry, the response from local banks was underwhelming.
“Unfortunately the banking system, when we started, was not very much into industrial projects,” he says. “We talked to banks, but they were more interested in financing real estate.”
Mr Tamimi, chief executive of Emirates International Energy Services, had run into the problem facing start-ups everywhere – accessing capital and support from banks skewed towards larger, established companies.