monshaat

Established in 2016, the objectives of the General Authority for Small and Medium Enterprises “Monshaat” are to organize, support, develop and sponsor the SME sector in accordance with best global practices, to increase the productivity of these enterprises and increase their contribution to the GDP from 20% to 35% by 2030.

Monshaat works on supporting, developing and nurturing the SME sector in line with best global practices by implementing and supporting programs and projects to promote the cultural and spirit of entrepreneurship and innovation, and diversifying sources of financial support for SMEs, and stimulating venture capital initiatives, setting policies and standards for financing projects classified as small and medium enterprises.

It also provides administrative and technical support for the establishments and support them in developing their administrative, technical, financial, marketing, human resources and other capabilities.

In addition to supporting the establishment of specialized companies in financing, activate the role of banks and lending funds and stimulate them to play a larger and more effective role in financing and investing in enterprises, establishing and supporting the programs required for the development of enterprises, in addition to establishing comprehensive service centers for establishments to issue all the regulatory requirements, And electronic services to relevant public and private entities.

Monshaat is keen on removing administrative, regulatory, technical, procedural, informational and marketing obstacles facing the establishments in cooperation with the relevant authorities, and to create and regulate technology and business incubators, as well as developing programs and initiatives to create and identify investment opportunities for establishments and work on transferring and localizing related technologies to enhance their productivity; “Supply Chain” is one of the programs.

Monshaat enhances the collaboration between different governmental and international entities related to Monshaat’s objectives.

It also works on organizing conferences, seminars, meetings, local and international exhibitions by participating, and ensuring the implementations of its recommendations, in addition to the preparation of studies, research, statistical surveys and reports related, and proposing regulations, and policies for the development and support of enterprises, and follow-up implementation after adoption.