Close Menu
  • Home
  • Startups
  • Channeliam Fact Check
  • Middle East
    • Exploring UAE
    • Emerging saudi
  • Shepreneur
    • Top Women Startups
  • Remembering Ratan Tata
  • More
    • Jobs and Internships
    • Funding
    • Entrepreneur
    • Technology
      • Auto
      • Gadgets
    • Updates
    • MSME
    • Movies
    • Travel
    • Events
    • Featured
    • Editor’s Pick
    • Discover and Recover
CHANGE LANGUAGE
What's Hot

Bill Gates no longer in world’s top ten richest people list

9 July 2025

CIASL Launches ₹50 Crore Aviation Upgrade

9 July 2025

Sunak returns to Goldman Sachs in a global advisory role

9 July 2025
Facebook X (Twitter) Instagram
  • About Us
  • I am Startup Studio
  • I am an Entrepreneur
  • She Power
  • I AM NOW AI
YouTube Facebook Instagram LinkedIn X (Twitter)
Channeliam / Channel I'M EnglishChanneliam / Channel I'M English
  • Home
  • Startups
  • Channeliam Fact Check
  • Middle East
    • Exploring UAE
    • Emerging saudi
  • Shepreneur
    • Top Women Startups
  • Remembering Ratan Tata
  • More
    • Jobs and Internships
    • Funding
    • Entrepreneur
    • Technology
      • Auto
      • Gadgets
    • Updates
    • MSME
    • Movies
    • Travel
    • Events
    • Featured
    • Editor’s Pick
    • Discover and Recover
Change Language
Channeliam / Channel I'M EnglishChanneliam / Channel I'M English
Change Language
Home » 166% Boost in Business for Saudi SMEs
Emerging saudi

166% Boost in Business for Saudi SMEs

Saudi SMEs see 166% company growth despite $4.8 billion in funding push
News DeskBy News Desk28 April 2023Updated:15 April 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email Telegram WhatsApp

Saudi SMEs see 166% company growth despite $4.8 billion in funding push.

Saudi Arabia is making significant progress in supporting small and medium enterprises (SMEs), with over 1.14 million SMEs now operating in the country. The Small and Medium Enterprises General Authority (Monsha’at) has developed 23 initiatives related to seven of the strategic objectives outlined in Saudi Vision 2030 through five of its programs: National Transformation, Financial Sector Development, Fiscal Stability, Human Capability Development, and National Industrial Development and Logistics Programmes.

Since the launch of Vision 2030 in 2016, Monsha’at has achieved a growth rate of 166% in the number of small and medium enterprises in Saudi Arabia, from 429,026 to 1,141,733. This accomplishment has led to Saudi Arabia ranking second in the 2022 Global Entrepreneurship Monitor’s National Entrepreneurship Context Index, a significant improvement from its previous ranking of 41st in 2018.

Monsha’at has contributed to the establishment of the Small and Medium Enterprises Bank, raising the lending quota from 5.4% in 2018 to 8.3% in 2022, and launched a funding portal connecting public and private sector financiers with SMEs seeking finance, with funding reaching over $4.8 billion. The authority has also launched the Saudi Venture Capital Company to promote venture capital and direct investment in startups, with the value of venture capital in Saudi Arabia totaling nearly $1 billion.

Under the Fiscal Stability Programme, Monsha’at launched the Government Fee Refunding Initiative Estrdad, which has refunded over $934 million to SMEs since 2018, while the National Industrial Development and Logistics Programme saw the launch of the Jadeer service, aimed at empowering SMEs by facilitating procurement opportunities offered by the public and private sectors. More than 2,300 enterprises have qualified for the service.

Monsha’at has also launched the University Startups Initiative to promote the Entrepreneurial culture, with the program supporting over 65,000 University Students and contributing to the Kingdom’s advancement in the Global Entrepreneurship Monitor report. The authority has launched several SMEs support centers in four different regions in the Kingdom to upskill small and medium enterprises and entrepreneurs, with over 66,000 beneficiaries to date. The goal is to build a regional competitive economic system that aims to achieve sustainability and prosperity in various sectors and boost its contributions to the GDP.

business news latest updates saudi SME
Share. Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
News Desk
  • Website

Related Posts

Bill Gates no longer in world’s top ten richest people list

9 July 2025

CIASL Launches ₹50 Crore Aviation Upgrade

9 July 2025

Sunak returns to Goldman Sachs in a global advisory role

9 July 2025

Maran brothers try to end fight with help from MK Stalin

9 July 2025
Add A Comment

Comments are closed.

Careers
Recent Posts
  • Bill Gates no longer in world’s top ten richest people list
  • CIASL Launches ₹50 Crore Aviation Upgrade
  • Sunak returns to Goldman Sachs in a global advisory role
  • Maran brothers try to end fight with help from MK Stalin
  • More legal trouble for Nayanthara Netflix documentary
Editors Picks

Bill Gates no longer in world’s top ten richest people list

9 July 2025

CIASL Launches ₹50 Crore Aviation Upgrade

9 July 2025

Sunak returns to Goldman Sachs in a global advisory role

9 July 2025

Maran brothers try to end fight with help from MK Stalin

9 July 2025
About Us
About Us

The first exclusive digital video media platform for startups and future business leaders, Channel I’M, the brainchild of Mrs. Nisha Krishan, unveils the first glimpse of how Indian startups think/create/market futuristic products and services.

Subscribe to Updates

Get the latest creative news about entrepreneurs, startups, and businesses.

Updates
  • Bill Gates no longer in world’s top ten richest people list
  • CIASL Launches ₹50 Crore Aviation Upgrade
  • Sunak returns to Goldman Sachs in a global advisory role
  • Maran brothers try to end fight with help from MK Stalin
  • More legal trouble for Nayanthara Netflix documentary
YouTube Facebook X (Twitter) Instagram Pinterest LinkedIn RSS
  • Home
  • About Us
  • Promotions
  • Careers
  • Contact Us
© 2025 Likes and Shares Pvt Ltd. Powered By arbaneo

Type above and press Enter to search. Press Esc to cancel.

Change Language
Malayalam
Hindi
Tamil
Change Language
Malayalam
Hindi
Tamil