Why do most SMEs struggle to secure financing, and how can U & Us help?
Many SMEs face rejection due to lack of credit history, incomplete documentation, or poor financial presentation. U & Us helps you prepare your financials professionally, build strong business profiles, and connect you with trusted banks and NBFIs through our extensive network.
What types of financing solutions do U & Us offer through your banking and NBIF partners?
We support SMEs with business loans, working capital, trade finance, leasing, and invoice discounting by matching your needs with the right lender, whether it’s a commercial bank or a non-bank financial institution.
Is an audit mandatory for small businesses and free zone companies in the UAE?
Most mainland companies are not legally required to audit, but it’s highly recommended for credibility and tax purposes. Many free zones (e.g., DMCC, RAKEZ) mandate annual audit submissions to maintain licenses.
What are the audit deadlines, and what happens if I miss them?
Deadlines vary by free zone, but typically fall within 90–180 days after your financial year-end. Missing them can lead to penalties or delays in license renewal. We help you stay compliant and submit on time.
Why do startups and SMEs need professional bookkeeping?
Professional bookkeeping ensures accuracy, compliance, and strategic insights. We keep your records clean, compliant, and ready for audits or tax filing, saving time and avoiding costly errors.
Who must register for VAT and corporate tax in the UAE?
VAT is mandatory for businesses with AED 375,000+ in annual taxable supplies. Corporate tax applies to all UAE-based companies, even newly established ones, regardless of revenue, and registration is required within legal timelines.
What are the penalties for late VAT or corporate tax registration and filing?
Late VAT registration incurs a AED 10,000 fine; late returns can trigger additional penalties. Corporate tax registration delays also attract a AED 10,000 fine, with further penalties for late filing and payment. We ensure you’re on track.
How can I prepare for a tax or VAT audit in the UAE?
Maintain organized financial records, issue proper invoices, reconcile returns regularly, and store documents for 5+ years. Our team helps keep your business audit ready throughout the year.
What are management accounts, and why are they important for small businesses?
Management accounts are internal, monthly or quarterly reports that give you real-time insight into your finances. They help in planning, decision-making, cash flow control, and even in gaining investor confidence.
How do budgeting and forecasting support business growth?
Budgeting sets clear financial goals, while forecasting predicts cash flow, revenues, and risks. Together, they help you stay in control, make smart decisions, and prepare for opportunities or challenges ahead.