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Massive Response to Saudi SME Program: Already 140,000 Entries

MAGNiTT News 1 year ago - Tue, May 28, 2019, 6:07 AM

Massive Response to Saudi SME Program: Already 140,000 Entries
Author: MAGNiTT

The Saudi Press Agency has reported that HADAF, the Human Resources Development Fund, has received responses from more than 140,000 people for their e-services program for SMEs and entrepreneurs.

This newly introduced 9/10ths Program started its journey back in August 2016, offering online platforms with a view to change the economic culture of the Kingdom, through promotion of SMEs and entrepreneurship. Aspiring start-ups and SMEs also receive support to grow their business. The aim is to make the Saudi economy better and create more innovative jobs.

The services provided by this online platform are: financing solutions, management applications and services, interactive guide for all stages of entrepreneurial projects, operation and development of SMEs, and information and data solutions so that enterprises and entrepreneurs can make better business decisions.

According to Arab News, this program is one of HADAF’s many projects aiming at achieving the Vision 2030 reform plan goals. It also has significant contributions in the National Transformational Program 2020. Vision 2030’s goal is to improve the contribution of SMEs in the Kingdom’s GDP, which is currently at only 20 percent. In countries with advanced economies, this contribution can even reach up to 70 percent. If things stay in order, HADAF’s program can boost the economy a lot.


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