Saudi Arabia targets small businesses for job creation
Saudi Arabia is implementing a new national strategy for small and medium enterprises aimed at boosting their growth and increasing their contribution to the national GDP from the current 22% to 35% by 2030, while also creating around 500,000 new jobs. The initiatives include developing support frameworks for financing and expansion, with a focus on improving entrepreneurs' capabilities and facilitating their access to markets, especially outside the main cities. Despite the expansion of these enterprises, challenges such as rising rents and difficulty accessing major markets continue to impact their sustainability. The government is making efforts to improve the business environment and strengthen high-growth enterprises.
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