The head of the General Authority for Small and Medium Enterprises in Saudi Arabia, Sami Ibrahim Al Husseini, has revealed significant advancements in the development and empowerment of small and medium-sized enterprises (SMEs) in the country. During the ‘Commercial Forum 2024: The Future of Business’, which was inaugurated by the deputy governor of the Eastern Province, Turki Al Tamimi and organized by the Eastern Province Chamber of Commerce and Industry, Al Husseini shared that by the end of the third quarter of the previous year, financial facilitations for SMEs had reached approximately SAR 268 billion, constituting 8.7% of the total financing. This substantial support has helped propel the Kingdom to second place globally in the entrepreneurship index from its previous 41st position in 2018.
Al Husseini pointed out that the number of SMEs had climbed to about 1.3 million by the end of last year, creating employment opportunities for over 6.9 million individuals. Highlighting the authority’s efforts in the e-commerce sector, he mentioned the specialized training programs and workshops established for budding entrepreneurs. The e-commerce tours conducted by the authority spanned more than 14 cities and regions around the Kingdom, benefiting over 12,000 visitors.
Furthermore, Al Husseini detailed that more than 125 workshops were held, with over 1300 hours of consultancy delivered. Additionally, service providers presented over 52 special e-commerce packages during the tour, benefiting 4022 existing businesses. Focusing on the Eastern Province, he observed a significant increase in the number of SMEs, totaling around 141,000 by the fourth quarter of 2023, making it the third-largest region in terms of SME numbers, with the workforce exceeding one million people.
