His Royal Highness Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, launched the Monshati 360 program and the second phase of the Tomoh E-commerce Program yesterday, after opening the Biban Makkah Region forum, organized by the Small and Medium Enterprises General Authority “Monsha’at” under the theme An Idea for Ambition and Doors for Success. Prince Khalid Al-Faisal also launched Saudi Incubators, a national grouping of Saudi universities that works to unify efforts in the field of business incubators and business accelerators.

Through its design of the Monshati 360 program, Monsha’at aims to measure the performance of SMEs through self-assessment and comprehensive assessment, in order to identify their strengths and challenges, develop their capabilities, and help them attract investors.

Through the self-assessment, the program provides a report that identifies the challenges facing SMEs, to help them raise the enterprise’s performance and address those challenges, while the comprehensive assessment evaluates and analyzes the financial statements of SMEs through financial analysts. Based on the assessment results, the enterprise receives a certificate accredited by Monsha’at that qualifies it to benefit from the programs, initiatives, and financing solutions offered by Monsha’at and supporting entities.

In a related context, Monsha’at launched the second phase of the Tomoh E-commerce Program, noting that 500 online stores were launched during the first phase. Through the second phase, Monsha’at seeks to enable and encourage startups and micro enterprises to use electronic channels in their commercial operations, with the aim of facilitating and accelerating the transition to e-commerce, educating enterprises about modern digital commerce, raising the success rate of local SMEs, and contributing to increasing Saudi exports through online stores.

Saudi Incubators also aims to unify the efforts of business incubators, business accelerators, and coworking spaces in the Kingdom, to facilitate the exchange of information and practical expertise between them and decision-makers, their clients, and the competent entities, and to improve them and develop the capabilities of their staff, in order to prepare business incubators in the Kingdom that are in line with the objectives of Saudi Vision 2030.

Registration for the Monshati 360 program is available to SMEs through the website monshati360.sa, and all of the program’s outputs are provided free of charge and with full support from Monsha’at, while registration for the Tomoh E-commerce Program is available through the website tomoh.monshaat.gov.sa