Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) said the number of registered SMEs in Saudi Arabia hit 892,063 in the first half of this year, registering a 25.6 percent increase from the fourth quarter of 2021.
Riyadh and Mecca were the most attractive regions for startups, accounting for 35.4 percent and 21 percent of the Kingdom’s SMEs respectively, Monsha’at’s quarterly report titled SME Monitor said. In total 69.1 percent of all SMEs are located in the Riyadh, Mecca, and Eastern Province region.
The 41-page report was released August 28th.
In March, Monsha’at and the King Abdulaziz City for Science and Technology launched a new portal to help SMEs develop. The portal includes “a set of specialized sections that guide business innovators through the stages necessary to bring a project to success, offer a search engine that reviews services provided by over 60 governmental and private entities in the Kingdom and contain information resources dedicated to the Saudi innovation market.”
