2023-08-23 18:24:43
It is reported that there is a significant increase in the number of small and medium enterprises in Saudi Arabia. The report was published by the Small and Medium Enterprises General Authority or Munsha. In the second quarter of the current financial year, a growth of 2.6 percent was recorded in the number of small and medium enterprises. The figures released by the authority indicate that the total number of enterprises in the country has exceeded twelve lakh thirty thousand.
Riyadh Province has the highest number of establishments at 42.3 percent. 18.6 percent of institutions are operating in Makkah Province and 11.1 percent in Eastern Province. More than 30.7 percent of these are in the construction sector. 11.6 percent are working in the support and services sector. New ventures are coming more and more in the tourism sector. Special financial assistance is also being prepared at the government level to support this. The authority has announced that it has reached an agreement with the Social Development Bank to allocate one billion Riyals for this.
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