Riyadh-Amlak
Dr. . Dr. Tawfiq bin Abdulaziz Al-Suwailem, Director of Gulf House for Economic Research and Consultancy, emphasized that small and medium enterprises are considered the backbone of the economy in many countries of the world. It represents about 90% of its economic establishments and employs from 50% _ 60% of the world's labor force, pointing out that bureaucracy and red tape is the biggest obstacle to the progress of these projects.
He explained that the financing of small and medium enterprises is the key to economic and social development, pointing out that the issue of financing these enterprises is a concern that worries specialists as the Kingdom has about 850 thousand commercial records more than 90% of which are considered small and medium enterprises working individually and family and about 25 thousand companies and there are about 2,600,000 small shops and it is necessary that the means to support these enterprises are available and diversified because they are the key to development.
Dr. Al-Suwailem stressed. Dr. Al-Suwailem stressed the need to treat small enterprises with special treatment because they face multiple issues and difficulties, such as financing, which prevents their development in light of the inability of their owners to provide the necessary financing for the continuation of their activity, and their inability to provide the guarantees required by commercial banks to provide financing, explaining that commercial banks usually contribute to the financing of these enterprises. Commercial banks usually contribute to the financing of large projects, and prefer to deal with them and provide الــــــــــــــــــقروض to them because of the low degree of risk in these projects on the one hand, and the ease of dealing with them on the other hand, and their ability to provide the required guarantees on the third hand, or because of the existence of common goals and interests.
Dr. Al-Suwailem said in a statement to ”Amlak” (The talk about small and medium enterprises is a repeated talk and there are no radical solutions on the ground ... However, there are many steps that contribute to supporting small and medium enterprises, such as : The need for harmony between all official bodies and the concerted and integrated efforts to support these enterprises, and the development of radical solutions to the issues of financing small and medium enterprises and reducing the value of guarantees that burden these enterprises, as well as benefiting from international experiences such as the Turkish, Korean, Singaporean, Malaysian, Indian and other experiences).
Dr. Tawfiq bin Abdulaziz Al-Suwailem, Director of Gulf House for Economic Research and Consulting, called for the need to activate and activate the role of small and medium enterprises as the axis and the system that needs support and support from the official authorities, which we hope that the efforts of the various authorities are concerted and harmonious to support these enterprises, explaining that one of the criteria for evaluating the economies of major countries is the readiness and strength of small and medium enterprises and therefore the growth of SMEs is an economic requirement and a manifestation of economic strength.
The growth of SMEs is a requirement of economic demands and is one of the manifestations of economic strength.
