Financial Risk Management in SMEs in Dubai a study on a contracting company based in Dubai

ABSTRACT

The topic of management of financial perils and risk for small & medium enterprises (SMEs) was largely limited in the business literature. This research aimed to study the present state of management of financial management in Dubai’s small & medium enterprises. In the commercial and economic development, expansion, and growth of Dubai, small & medium enterprises (SMEs) are key. Nevertheless, only in a risk-free operating environment can this be possible. This study looks at the relation between Dubai’s financial risk and SME sustainability. A series of risks are facing SMEs which require objective and conscious efforts to manage risks. A financial risk management evaluation of an organization was developed, resulting from an analysis of the semi-structured questionnaire survey, which was assisted by a research interview. SME entrepreneurs were recommended to treat management of risk as an integral segment of corporate governance. Regulators should also focus on minimum standards for SME corporate governance.
Keywords— Financial Risk Management, SME, contracting company