(MENAFN- Mid-East Info)
The criteria and indicators for the new Impact Seal category were designed in collaboration with the Ministry of Economy.
In the UAE, SMEs represent 94% of all companies and employ nearly 86% of the private sector workforce.
The launch aligns with the UAE's efforts to enhance the competitiveness of the entrepreneurship and small projects and support the achievement of the goals of the“National Entrepreneurship Agenda”
Dubai, February, 2025: MAJRA – National CSR Fund has taken a significant step towards fostering sustainable business practices with the launch of a new Impact Seal category, Majra SME for Impact. This initiative aims to empower SMEs to drive sustainable impact while contributing to the UAE's socio-economic development and national sustainability goals.
The SME for Impact seal was unveiled during MAJRA's participation at the Sharjah Entrepreneurship Festival (SEF), underscoring its commitment to fostering entrepreneurship, innovation, and sustainable practices within the SME sector.
SMEs are widely recognised as pivotal drivers of innovation, spearheading the development of groundbreaking concepts and solutions. From small-scale founders to entrepreneurs leading the process of economic progress in various fields, these enterprises not only adapt to change but actively shape it, being at the epicentre of this transformative progress. In the UAE, SMEs represent 94% of all companies and employ nearly 86% of the private sector workforce.
The launch of this new Impact Seal category for SMEs aligns with the UAE's efforts to support the competitiveness of the entrepreneurship environment and SMEs, especially with the UAE Ministry of Economy's National Agenda for Entrepreneurship and SMEs, which aims to bolster the entrepreneurial landscape and position the UAE as an entrepreneurial nation by 2031.
Sarah Shaw, Director of MAJRA, said:“The Majra SME for Impact Seal category is more than just a recognition, it is a testament to our commitment to supporting SMEs in achieving sustainability and responsible business practices. This initiative reflects our dedication to fostering a culture of impact-driven CSR within the category of entrepreneurship, ensuring that businesses are not only profitable but also purposeful in their contributions to society, environment and economy. We will continue to launch initiatives that empower businesses, including SMEs, encouraging them to drive innovation, social responsibility, and long-term sustainability, all while contributing to the UAE's vision for a thriving and future-ready economy.”
Reflecting Majra's commitment to empowering businesses of all sizes, the new Impact Seal category fosters an environment where SMEs can better serve their communities while contributing to the nation's economic development. Additionally, it seeks to enhance the number of entities reporting impact data, promoting a transparent, data-driven culture that accelerates national efforts towards sustainability and social responsibility.
The criteria and indicators for the new Impact Seal category dedicated to SMEs are meticulously designed in collaboration with the Ministry of Economy.
The Impact Seal, launched by MAJRA in 2023, stands as the UAE's highest recognition for excellence in corporate social responsibility (CSR) and environmental, social and governance (ESG) practices. This prestigious accolade, with three tiers of recognition – Silver, Gold, and Platinum, honours businesses that demonstrate exemplary practices and achieve significant impact in their CSR and ESG initiatives.
During its participation in Sharjah Entrepreneurship Festival, MAJRA also presented three complimentary SME pods for two days, offering three selected SMEs, who have received the Impact Seal the opportunity to showcase three verified sustainable impact projects. Additionally, MAJRA showcased its qualification and verification process for projects with social and sustainable impact in the nation. MAJRA is the only federal body responsible for validating projects with the Impact Verification and Impact Qualification Stamps.
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