1.27 million SMEs in Saudi Arabia, Monsha’at monitor unveils growth trends – Saudi Gazette

1.27 million SMEs in Saudi Arabia, Monsha’at monitor unveils growth trends – Saudi Gazette

Saudi Gazette reportRIYADH — The Small and Medium Enterprises General Authority (Monsha'at) has unveiled the findings of the third edition of the 2023 SME Monitor, revealing that small and medium-sized enterprises in the Kingdom have surged to 1.27 million companies.This reflects a 3.5% increase from the second quarter of this year. The majority of these enterprises are concentrated in Riyadh, accounting for 43.3%, followed by the Makkah region with 18.3%.Issued in both Arabic and English, spanning 46 pages, the monitor cast a spotlight on Al Qassim region, showcasing significant investment opportunities for entrepreneurs.This region stands out for its unique advantages in agriculture, industry, and more.The report commenced with a welcoming message from the Chairman of Al Qassim Chamber of Commerce, Abdulaziz Al-Humaid.He underscored the pivotal role of the Al Qassim region as one of the Kingdom's vital investment zones and a nurturing ground for entrepreneurial success.Al-Humaid highlighted the chamber's commitment to supporting small and medium-sized enterprises through programs that enhance managerial and financial skills.Additionally, the report featured an interview with Philip Bahoshy,