Saudi Arabia to study quick funding solutions for SMEs: official

Saudi Arabia is looking into providing quick funding solutions for small and medium enterprises (SMEs), Ghassan Al-Sulaiman, governor of the General Authority for SMEs told Argaam.

However, developing the venture capital industry in the Kingdom will require a long period of time, he added, speaking on the sidelines of a press conference ahead of the BIBAN 2017 SME Forum next month in Riyadh.

As part of the kingdom’s mechanisms to support the venture capital industry, it had earlier established a large fund to boost the SME sector, he said. 

The BIBAN forum aims to shed light on developments in Saudi Arabia’s SME sector, and will presents investment opportunities, incubators, available financing solutions, and training tools, he added.