Logo of Small & Medium Enterprises General Authority (Monsha’at)
The number of small and medium enterprises (SMEs) in Saudi Arabia increased by 3% quarter-on-quarter (QoQ) to 1.31 million by the end of Q4 2023, a report issued by the Small and Medium Enterprises General Authority (Monsha’at) showed.
The report highlighted that micro-enterprises make up 87%, or about 1.14 million, of the total enterprises in the Kingdom, as depicted in the table below:
Number of Enterprises by Size in Q4 2023
Enterprise Size
Q3 2023
Q4 2023
Change (%)
Micro
1100000
1138588
4%
Small
151170
150788
(0.3%)
Medium
18176
18723
3%
Total
1270000
1308099
3%
Riyadh accounted for the largest share of total SMEs in the Kingdom by the end of Q4 2023, comprising over 43%, or about 571,300 enterprises. Makkah came second, representing nearly 18.1% of the total SMEs, as illustrated in the following table:
Regional Distribution of SMEs in Q4 2023
Province
No. of SMEs (‘000)
Percentage of Total
Riyadh
571.3
43.7%
Makkah
237.3
18.1%
Eastern Province
140.1
10.7%
Other Provinces
359.4
27.5%
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/article/articledetail/id/1709526
