KPMG: Roadmap for the global success of Saudi Arabia’s 752,600+ industrial SMEs

KPMG: Roadmap for the global success of Saudi Arabia’s 752,600+ industrial SMEs

- Going global can mitigate some of the challenges industrial SMEs face in Saudi Arabia.

- Research and digitization are essentials to reach the global market.

Riyadh: KPMG Professional Services released a new publication, titled "Growing new industrial supply chains" and describing the journey that small and medium enterprises (SMEs) could undertake to set up industrial supply chains, the ecosystem of support that industrial SMEs navigate, and the challenges they face in Saudi Arabia.

The paper outlines global examples and benchmarks to identify disparate strategies adopted by other nations and distil them into concise recommendations, which can be applied in the Kingdom to aid industrial SMEs in setting up their supply chains.

Industrial SMEs in the Kingdom operate in a rich ecosystem of ministries, agencies, and programs that support growing enterprises. The efforts of the ecosystem are underpinned by the Saudi Vision 2030 and the goals of diversifying the economy and increasing the industrial sector's contribution to GDP.

"Throughout their journey of establishing local industrial supply chains, SMEs may face various challenges, which can be exacerbated by global occurrences and shocks, such as the global Covid-19 pandemic," said Kenan Nouwailati, Head of Procurement, Supply Chain and Local Content Advisory at KPMG in Saudi Arabia.

“The broad