Monsha’at has announced that the number of small and medium enterprises in the Kingdom has reached 1.2 million enterprises, reflecting a 4.8% increase compared to the fourth quarter of 2022. The capital city, Riyadh, hosts the largest share of SMEs, with a percentage of 41.4%, followed by the Makkah region with 18.9%. The Eastern Province accounts for 11.1%, while the remaining regions contribute 28.6%.
This was stated in the "Small and Medium Enterprises Monitor" report for the first quarter of 2023, released by the authority today. The report addresses the financial aspects of the sector, as the first quarter of this year witnessed the highest level of financing for SMEs, reaching a value of 1.35 billion. This has contributed to enhancing the investment environment for SMEs. The e-commerce and retail sectors stood out as the most active and highest funded sectors in the Kingdom during the first quarter of 2023.
The report highlights the initiatives of the Small and Medium Enterprises Bank, which aims to increase the contribution of SMEs to the Gross Domestic Product to 35% by 2030. This is achieved through the provision of 6 financing products, including credit cards for enterprises, e-commerce financing, working capital financing, microfinance, revolving credit financing, and term financing. These products encourage SME owners to expand and grow their businesses and pursue their commercial activities.
The report also highlighted the achievements of the "Biban 23" forum as the largest event in enhancing communication, developing skills, and exchanging knowledge for entrepreneurs, while contributing to the building of a thriving ecosystem for SMEs in the Kingdom. The forum attracted 145,000 visitors from around the world and hosted the finals of the Entrepreneurship World Cup, in addition to agreements, launches, and investment tours worth over 52 billion. More than 1,200 exhibitors from various parts of the world participated in the event.
Furthermore, the report provides a special overview of the entrepreneurship and SME environment in the Madinah region, which is experiencing significant entrepreneurial activity. The region is home to over 60,000 small and medium-sized enterprises as of the first quarter of this year. The report also confirms that Madinah possesses a rich and diverse inventory of human, cultural, and financial capital, making it an attractive investment destination for SMEs and investors across a wide range of traditional and emerging sectors.
The report reviews a range of initiatives and programs offered by "Monsha’at," including "Nawafth" application launched in 2020, with the aim of enabling SMEs owners to benefit from expert guidance and advisory services.
Additionally, the report highlights the experts’ viewpoints and success stories from various fields, featuring significant meetings with individuals such as Abdulrahman bin Mansour, the Acting CEO of the Small and Medium Enterprises Bank, Latifah Almohawas, the Director of SMEs Support Centers in Monsha’at, Tarfah Almutairi, Founder and CEO of Advanced Industries Sondos, Abdullah Aba Alkhail, Founder and CEO of White Helmet, and Afdhal Hussain Naqeeb, Founder and CEO of Almukarramh. The full report is available via the link 
https://monshaat.gov.sa/sites/default/files/2023-05/Monshaat%20Q1%2023%20_AR.pdf.

Monsha’at has released a series of reports under the title "Small and Medium Enterprise Monitor" on a quarterly basis during the year 2022. These reports highlight the key figures and updates related to the sector, along with numerous dialogues with experts and decision-makers. They also include success stories and case studies, shedding light on vital and promising investment areas in the Kingdom, such as the Riyadh Province, Makkah Province, Eastern Province, and Al-Jouf Province. Each report focuses on a sector that offers promising opportunities for entrepreneurs, such as the food and beverage sector, entertainment and sports, emerging technologies, and healthcare.
Furthermore, Monsha’at regularly publishes a series of specialized reports on topics of interest to entrepreneurs in the Kingdom, including "Talent Attraction for Enterprises," "Effective Communication Guide," and "Funding Gateway," among others. These reports serve as reliable reference for information and figures for entrepreneurs, investors, and interested parties.