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Zawya
03-03-2025
- Business
- Zawya
Saudi Monshaat: 67% increase in commercial registrations during Q4 2024
RIYADH — There has been a 67 percent increase in commercial registrations, bringing the total number to 1.6 million during the fourth quarter of 2024. According to the quarterly SME Monitor Report released by the Small and Medium Enterprises General Authority (Monshaat), the majority of these registrations were concentrated in Riyadh, accounting for 39 percent, followed by Makkah with 17 percent, the Eastern Province 16 percent, Qassim 6 percent, and Asir 5 percent. The remaining 17 percent were distributed across other regions. The current edition of the report focuses on sustainability and key trends adopted by SMEs, including the circular economy, renewable energy, reforestation, major environmental projects, environmental tourism development, and the adoption of electric vehicles. It also highlights collaboration with government initiatives and contributions to sustainability reports. The report opens with a statement by Rakan Alsheikh, deputy minister for Policies and Economic Planning at the Ministry of Economy and Planning, who discussed the Sustainability Champions Program launched by the ministry. The program aims to enhance the exchange of knowledge and best practices between large companies and SMEs, ensuring that small businesses benefit from the expertise of leading sustainability companies. He emphasized the importance of empowering SMEs to seize emerging opportunities in renewable energy, green technology solutions, and circular economy initiatives. The report also highlights expert insights and success stories in sustainability, including interviews with officials from various companies and entrepreneurship experts. The report provides data on the beneficiaries of Monshaat's programs and services up to the end of fourth quarter of 2024. More than 51,000 individuals have benefited from the Monshaat Academy, 41,076 SMEs accessed the authority's support centers, and nearly 6,100 beneficiaries used the Mazaya platform. Furthermore, 2,100 small and medium enterprises qualified for the Jadeer service, 4,258 benefited from innovation centers, and 205 trademarks were listed on the authority's Franchise Center platform. The SME Monitor Report is part of a series of quarterly reports issued by Monshaat, covering the latest updates on the entrepreneurial environment, statistics, and figures, along with specialized reports on topics of interest to entrepreneurs in the Kingdom. The reports serve as a reliable reference for entrepreneurs, investors, and stakeholders, the Saudi Press Agency reported.
Saudi Gazette
02-03-2025
- Business
- Saudi Gazette
Monshaat: 67% increase in commercial registrations during Q4 2024
Saudi Gazette report RIYADH — There has been a 67 percent increase in commercial registrations, bringing the total number to 1.6 million during the fourth quarter of 2024. According to the quarterly SME Monitor Report released by the Small and Medium Enterprises General Authority (Monshaat), the majority of these registrations were concentrated in Riyadh, accounting for 39 percent, followed by Makkah with 17 percent, the Eastern Province 16 percent, Qassim 6 percent, and Asir 5 percent. The remaining 17 percent were distributed across other regions. The current edition of the report focuses on sustainability and key trends adopted by SMEs, including the circular economy, renewable energy, reforestation, major environmental projects, environmental tourism development, and the adoption of electric vehicles. It also highlights collaboration with government initiatives and contributions to sustainability reports. The report opens with a statement by Rakan Alsheikh, deputy minister for Policies and Economic Planning at the Ministry of Economy and Planning, who discussed the Sustainability Champions Program launched by the ministry. The program aims to enhance the exchange of knowledge and best practices between large companies and SMEs, ensuring that small businesses benefit from the expertise of leading sustainability companies. He emphasized the importance of empowering SMEs to seize emerging opportunities in renewable energy, green technology solutions, and circular economy initiatives. The report also highlights expert insights and success stories in sustainability, including interviews with officials from various companies and entrepreneurship experts. The report provides data on the beneficiaries of Monshaat's programs and services up to the end of fourth quarter of 2024. More than 51,000 individuals have benefited from the Monshaat Academy, 41,076 SMEs accessed the authority's support centers, and nearly 6,100 beneficiaries used the Mazaya platform. Furthermore, 2,100 small and medium enterprises qualified for the Jadeer service, 4,258 benefited from innovation centers, and 205 trademarks were listed on the authority's Franchise Center platform. The SME Monitor Report is part of a series of quarterly reports issued by Monshaat, covering the latest updates on the entrepreneurial environment, statistics, and figures, along with specialized reports on topics of interest to entrepreneurs in the Kingdom. The reports serve as a reliable reference for entrepreneurs, investors, and stakeholders, the Saudi Press Agency reported.
Leaders
02-03-2025
- Business
- Leaders
Saudi SME Sector Soars with Record Commercial Registrations
The Saudi Small and Medium Enterprises General Authority (Monsha'at) announced a remarkable 67% quarterly surge in commercial registrations during Q4 2024, totaling 1.6 million. Riyadh led regional registrations with 39%, followed by Makkah (17%), the Eastern Region (16%), Qassim (6%), and Aseer (5%), with the remainder spread across other areas. Highlighting the growing emphasis on sustainability, the latest SME Monitor Report spotlights SMEs' adoption of circular economy models, renewable energy, and reforestation projects. It also underscores collaboration with government programs like the Sustainability Champions Initiative, which connects SMEs with leading firms to share expertise in green technologies and environmental tourism. Empowering SMEs Through Knowledge and Partnerships Rakan Alsheikh, Deputy Minister for Policies and Economic Planning, emphasized Monsha'at's role in preparing SMEs to capitalize on renewable energy and electric vehicle trends. The report features success stories from entrepreneurs and companies integrating sustainability into their operations, aligning with Saudi Arabia's broader vision for a greener economy. Over 51,000 individuals benefited from Monsha'at Academy training, while 41,076 SMEs accessed support centers. The Jadeer service qualified 2,100 businesses, and innovation centers supported 4,258 ventures. Additionally, 205 trademarks were listed on the Franchise Center platform, reflecting expanded opportunities for entrepreneurs. As part of its quarterly series, the SME Monitor Report serves as a vital resource for investors and stakeholders, offering insights into emerging trends and policy updates. Access the full report here . Short link : Post Views: 9
