Overview of the Strategy
The National Strategy for Entrepreneurship and SMEs provides an integrated national strategic framework to empower the entrepreneurship and SMEs sector and enhance its contribution to the national economy in alignment with Saudi Vision 2030.
The strategy focuses on developing core enablers, optimizing the regulatory landscape, and improving access to capital and markets, alongside promoting an entrepreneurial culture and accelerating digital transformation.
The strategy seeks to address the challenges facing enterprises through targeted initiatives that enhance their readiness for growth and expansion and improve their operational efficiency and competitiveness.
The strategy supports the development of an integrated entrepreneurial ecosystem built on partnerships among relevant stakeholders, contributing to economic diversification, sustainable economic opportunities, and greater SMEs integration into local and global value chains.
Vision
Objectives of the Strategy
Build an enabling and stimulating ecosystem that maintains active engagement and seamless collaboration among all business leaders and stakeholders.
Accelerate the growth of high-potential, established, and emerging enterprises in key and future-focused sectors.
Strengthen the entrepreneurship ecosystem and culture to build a society that embraces entrepreneurship.
Targets
What Are the Strategy Initiatives?
Advancing Open Commercial Innovation
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Empowering SMEs and Startups within Industrial Cities and Special Economic Zones (SEZs)
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
International Expansion and Export Enablement for SMEs and Startups
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Enhancing Access to Government Procurement
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Expanding SMEs and Startup Share of Large Corporate Procurement
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Building a Comprehensive SMEs Database and Ecosystem Data Integration
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Attracting and Localizing Global Innovative Startups
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Reviewing Sector-Specific Workforce Localization Thresholds
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Lowering the Cost of Doing Business
- Increasing SMEs’ contribution to GDP
- Contributing to job creation
Financial Literacy and Awareness
- Contributing to increasing the share of financing allocated to entrepreneurs and SMEs
Financing Enablement
- Contributing to increasing the share of financing allocated to entrepreneurs and SMEs
Stimulating and attracting SMEs Financing Institutions
- Contributing to increasing the share of financing allocated to entrepreneurs and SMEs
Developing an Impact Monitoring Framework for the Entrepreneurship and SMEs Ecosystem Initiatives
FAQs
What is the National Strategy for Entrepreneurship and SMEs?
The strategy serves to reinforce the role of the entrepreneurship and SMEs ecosystem as a primary engine for economic growth, diversification, and job creation, supporting the targets of Saudi Vision 2030. It aims to build an integrated, agile, and sustainable entrepreneurial ecosystem that fosters innovation and competes effectively both locally and globally, by aligning and integrating stakeholder efforts and addressing the challenges facing entrepreneurs and SMEs across all stages of growth. By 2030, the strategy seeks to elevate enterprise competitiveness and productivity while maximizing their economic contribution, contributing to the target of increasing SMEs’ contribution to GDP to 35%.
What is the core objective of launching the National Strategy for Entrepreneurship and SMEs?
To develop an integrated, agile, and sustainable entrepreneurial ecosystem that drives innovation and competes effectively both locally and globally.
How many initiatives does the strategy comprise, and what is their scope?
It comprises 13 initiatives spanning all regions of the Kingdom and covering more than 13 major economic sectors.
Who are the key implementing partners of the strategy?
The strategy is executed through a multi-sector collaborative alliance across public, private, and non-profit domains. Key partners include:
Government Entities: Relevant authorities and Saudi Vision 2030 VRP bodies.
Funding & Investment Entities: SME Bank, venture capital (VC) funds, commercial banks, and financing institutions.
Private Sector: Major corporations, multinational firms, and tech companies.
Educational Institutions: Universities and training centers.
Non-profit Organizations: entrepreneurship support associations, incubators and business accelerators.
Who are the primary beneficiaries of the strategy?
Entrepreneurs, MSMEs, startups, and fast-growth enterprises.
What is the role of the Small and Medium Enterprises General Authority “Monsha'at”?
Monsha'at spearheads the implementation of the strategy in close coordination with key partners while leading impact measurement to ensure strategic key performance targets are met.
What are the primary enablers provided by the strategy?
Expanding access to capital, refining the regulatory environment, facilitating access to markets, and accelerating digital transformation.
What is the expected overall impact of the strategy?
Creating new economic opportunities, sharpening business competitiveness, and significantly elevating the sector's contribution to the national economy.
What are the main objectives of the strategy?
Increasing SMEs’ contribution to GDP to 35%, creating more than 500,000 direct and indirect jobs through the strategy’s implementation, and positioning the Kingdom first globally in the Entrepreneurial Skills and Knowledge Index.
.svg.png){kind=logo}
Comments
Add comment