The three-day Jeddah Commercial Forum concluded Wednesday with a call to help nurture small and medium-sized enterprises (SMEs) by establishing an authority to advocate for the smaller players in the Saudi business world.
Ghassan Al-Sulaiman, chairman of the Small Enterprises Development Center at the Jeddah Chamber of Commerce and Industry, said small enterprises constituted 93 percent of businesses in the Kingdom, employing 82 percent of the work force.
"Most businesses run by young Saudi men and women are small enterprises and deserve greater support from authorities," said Al-Sulaiman. "The rate of innovation in small enterprises is higher than in other businesses."
"There is a study in front of the Shoura Council on the need to establish an authority or ministry to take care of SMEs," Al-Sulaiman said, adding that the move would boost SMEs and help overcome their obstacles.
He said SMEs could play a big role in boosting the Kingdom's economy.
"There have been several successful SME experiments in countries like Japan and Singapore as well as in some developing countries," he said.
Four youths including two women — Lina Almaeena and Sherouq Al-Sulaiman — spoke about their successful experiences in running their businesses. Their presentations with confidence won the applause of audience.
Almaeena, director of Jeddah United Sports Company, said she started the venture as a hobby, which later became a successful investment project. Almaeena said her organization faced a lot of challenges as some people looked at it negatively. A shortage of playgrounds and rise in health facility rentals were other obstacles.
"We came up with this idea to spread a culture of sports, which plays an important role in building society," she said. The company was established in 2006.
Highlighting the importance of sports and physical exercise, she said more than SR19 billion is spent annually in the Kingdom for treating diseases such as obesity and diabetes, especially among women. "We started this company as a business venture without imitating anybody," she added.
Sherouq, head of Jamary International Real Estate Company, said she was able to establish her position in the business, which is dominated by men, in a short period. "I have achieved a lot of experience in managing local and international real estate," she said and called for softening rules and regulations in the sector. "I use this business to serve Saudi women and family," she added.
Muhammad Taha Al-Safi, founder of Ibda for specialized services, spoke about his experience in marketing Saudi foodstuffs and eatables in an innovative manner. He is now making efforts to export his products.
Abdul Rahman Al-Jeelani spoke about his experience in establishing Al-Waseel Trading & Contracting Company. "In the beginning it was difficult due to lack of experience in conducting feasibility studies on projects, but I achieved success due to my perseverance and continuous efforts.”
The last session titled "Aspirations of Youth Businesses Between Parameters and Obstacles" was distinguished for its lively and vibrant discussions and interactions between the panelists and delegates. It was moderated by Abla Bukhari, associate professor at the College of Economics and Administration, King Abdulaziz University.
Some of the attendees told Arab News that the forum was the most successful event they have attended in recent years in terms of topics, discussions and attendance. Nashwa Taher, chairperson of the forum, was the driving force behind its success, said a young woman. "She is a dynamic personality."
The forum highlighted the challenges facing businesses of young entrepreneurs. A young woman from Baha said more opportunities should be given to young entrepreneurs to start up new businesses.
Another delegate said the forum gave him a clear ideas about how to overcome the challenges facing the young business community. "Now I have a better idea about how to confront these challenges and become successful."
The forum comes at a time when the government has decided to overspend its budget by 15 percent.
The forum called for the establishment of a general authority for SMEs, more educational and media institutions to promote independent enterprises and new business opportunities to meet ambitions of youths and market requirements.
The forum also urged authorities to facilitate procedures for licensing and financing SMEs. It stressed the importance of holding seminars on strengthening SMEs. Suitable business environment should be created for promoting SMEs of young entrepreneurs.
