EmerioBanque

SMEs In Saudi Arabia Reached at 25.6%, Monsha'at Says

Riyadh, Capital of Saudi Arabia has the highest shares from the overall enterprises, with a percentage of 35.4%, while coming to the Makkah region,it is recorded 21%, with Al-Shraqiyah at 12.7%, says Monsha'at report.

As per the latest news, the number of small & medium enterprises (SMEs) has reached 892,000, with an increment of 25.6% compared to the Q4 of 2021, announced by the Small and Medium Enterprises General Authority (Monsha'at).

Monsha'at’s declaration came into the limelight while uncovering its Q2 of 2022 report and its perspective on several investment fields and files.

It has been shown by the report that the Riyadh region possesses the highest share of the total organization, with a percentage of 35.4%, while the Makkah region recorded 21% and Al-Shraqiyah 12.7%. Earlier, The Saudi British Bank or SABB introduced inventory financing solutions for KSA importers & exporters.

The Monsha'at expressed that 81% of these organizations are assigned as micro and small enterprises.

The percentage of these enterprises that are operated by women recorded 45% of the total start-up organizations’ owners in Saudi Arabia, which demonstrates the double percentage of what had been accomplished in 2017. 

Concerning the investment funding which has been acquired by the Saudi start-up organizations, it has increased by 244%, reaching SR2.19 billion in the Q1 of 2022 on yearly basis. Also, SMEs are genuinely opting for Fintech as a financial growth to survive from pandemic.

With that increment, Saudi Arabia has been assigned as the second most active investment capital market in the Middle East and North Africa regions, during the same period.

The report highlighted that the Makkah region has noticed an immense pioneering movement, as it has over 21% of the total SMEs in Saudi Arabia. It is good to know that Arab Bank was honored with the “Best Trade Finance Provider 2021 in the Middle East” award by Global Finance.

The food and beverages segment has received the greatest level of investment funding in the first half of 2022 compared to the firms operating in other segments.

According to the MAGNiTT platform report for the initial first half of 2022, the food & beverages sector received an investment funding of SR700 million during the first half of this year.

It has also been explained by the Monsha'at report that Saudi coffee manufacturing is experiencing tremendous movement during the present period.

Saudi Arabia is glad to have over 400,000 coffee bean trees, an increment that reached 70% in the Khawlani coffee beans' production.

It affirmed that the venture in the Saudi coffee sector reached SR1.2 billion for the Saudi Coffee Company over the next 10 years.





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

06 May

Accelerating Digital Transformation In Trade Finance

The intense need for digital trade finance is not hidden from anyone.The present volatile market hig...

03 May

How Digitization Brings New Opportunities In Trade Finance?

ISO 20022 will turn into a new universal standard for electronic information exchange between financ...

26 Apr

What is a Transferable Letter of Credit and How Does it Work?

What is a Transferable Letter of Credit?A Transferable Letter of Credit is a letter of credit facili...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.