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Small and Medium Enterprises contribute to the GDP by only 20% compared to 70% of some economies. Despite the efforts to improve the quality of the business environment, small enterprises in the Kingdom continue to suffer from a complexity of regulatory and administrative procedures, slow capacity, poor capacity to attract talents, and difficulty in obtaining funding.  The proportion of funding for small and medium enterprises is only (5%) of the total funding, which is a small proportion compared to global rates.  We will seek to help these enterprises to obtain funding and urge our financial institutions to increase the funding to 20% by the year (1452 AH - 2030 AD)
Small and Medium Enterprises General Authority is working on reviewing regulations, removing barriers and facilitating access to finance. Moreover, helping young people and innovators in marketing their ideas and products. At the same time, we will seek to establish more business incubators, training institutions and specialized venture capital funds to help entrepreneurs develop their skills and innovations. We will also help small national enterprises to export their products and services and marketing through e-marketing support and coordination with relevant international bodies.

Vision

To make the Small & Medium Enterprises a key driver of KSA’s economic development and enabler in achieving Saudi Vision 2030 and beyond.

Mission

Develop, enable, and advocate for SMEs to thrive, in collaboration with our strategic partners in the public, private and non-profit sectors.

Important roles for the SME sector in the Saudi economy

  • SMEs provide job opportunities for the Saudi people, and foster economic empowerment for youth and women

  • SMEs contribute to the growth and diversity of the economy

  • SMEs are critical to reduce poverty and contribute to rural and regional development

  • SMEs can significantly increase their contribution to exports (faster than large corporations)

  • SMEs allow to explore new areas of innovation and graduate new champions

  • SEMs enable national entrepreneur by building strengthened supply chain and increased competitiveness