How can I benefit from supporting small businesses? He knew that the Kingdom of Saudi Arabia is one of the most important Arab countries that works to provide all the services and projects that its citizens need, and he added that one of the most important goals of the Kingdom of Saudi Arabia is to strive for a thriving economy, and work to activate the role of groups within the Kingdom of Saudi Arabia within all The means to support the economy, and to be able to achieve solidarity between the government and companies as well as small enterprises, so we will learn how to benefit from supporting small enterprises.

How do I benefit from supporting small businesses?

Many people in the Kingdom of Saudi Arabia are interested in the mechanism that is followed in order to be able to know how to benefit from the support of small enterprises, and this information is what we will work to display through the following items:

• Being able to obtain loans from the Social Development Bank.
• In addition, benefit from the general authority of small and medium enterprises.
• Get support for small businesses within a target.

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Terms of support for small businesses

There is a lot of information on how to benefit from supporting small enterprises, which is based on raising the level of economy and prosperity in the Kingdom of Saudi Arabia, where the conditions for supporting small enterprises are what we will present as follows:

• The commercial registry should be effective for small enterprises.
• In addition, work must be done to match the area of ​​the establishment within the definition of small establishments with respect to the number of workers as well as the annual sales volume.
• The minimum age for the owner of the small business is about 21 years.
• In addition, the upper age limit for the owner of a small business is about 60 years.
• There must be actual work as well as productivity within the small establishments.

See also: Explanation of the initiative to support small enterprises in Saudi Arabia

Steps to apply for small business financing

The Small Enterprises Support Service is one of the most important facilities that have achieved great fame in the Kingdom of Saudi Arabia, through which he learned how to benefit from supporting small enterprises, especially since the steps for submitting a request for financing small enterprises are as follows:

• The applicant should enter the link for financing small and medium enterprises within the unified national platform through the website, where the link is here.
• In addition, the applicant must log in directly to the financing portal, Monshaat, through the link here.
• The applicant should log in to the financing portal using the mobile number or through the national identity number.
• In addition, the applicant must fill out the funding application.
• The applicant should direct the application to the funding agencies.
• In addition, the applicant should wait until the application is studied by the funding agencies.
• Later on, the customer will be notified of whether the application has been accepted or rejected through the financing portal.
• In addition, when the funding application is approved, the applicant must make a financing offer that will be viewed through the financing portal.

Requirements for obtaining support for small enterprises

By identifying how I benefited from the support of small enterprises, we will be able to identify all the information related to the requirements for obtaining support for small enterprises, which were clarified by the competent authorities, as they are as follows:

• To create a clear and purposeful action plan for small enterprises.
• In addition, work should be done to define the objectives of the work of small enterprises in a clear and precise manner.
• That work be done to complete all the conditions that are necessary in order to obtain financing for small enterprises.

See also: Conditions for admission to the security forces of establishments for female cadres through Absher recruitment of the Ministry of Interior

Small business success factors

It was known that small projects are one of the most important projects announced in the Kingdom of Saudi Arabia, and work has been done to clarify how to benefit from the support of small enterprises, as the factors for the success of small enterprises projects are represented through the following:

• The project should be initiated through the availability of strong experience within the field of small enterprises.
• In addition, adequate knowledge of all management and marketing methods should be provided.
• To be looking for new ideas for both business and marketing.
• In addition, the market demand is well studied.
• To allocate enough and appropriate capital to start the business.
• In addition, each of the resources and expenditures of small enterprises should be separated from personal resources and expenditures.
• That a work team be selected that is specialized in the field of work of the establishment.

Private finance companies in Saudi Arabia

There are many companies that are located in the Kingdom of Saudi Arabia, and they work to provide private financing for various projects. By learning how to benefit from supporting small enterprises, we will get to know the private financing companies in Saudi Arabia as follows:

• National Finance Company.
• In addition, the Saudi Finance Company.
• Beautiful livelihood.

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Bab Rizq Jameel for financing small projects

Bab Rizq Jameel is one of the most important companies working to provide private financing for small projects within how can I benefit from supporting small enterprises, and we will also show steps to take advantage of Bab Rizq Jameel to finance small projects as follows:

• For the individual to enter the Bab Rizq Jameel website link through the link here.
• In addition, it was known that all customers can communicate with Bab Rizq Jameel customer service, as well as be able to inquire about the most important financing services as well as benefits, and add to that the required guarantees through the phone number 8001187777.
• In addition, the individual must communicate with Bab Rizq Jameel via e-mail [email protected].

Details of financing new facilities, Social Development Bank

Whenever we search for a new set of information that is considered an essential part of the details of financing new enterprises, Social Development Bank, we will be able to identify information that enables the individual to benefit from financing small enterprises that are located in the Kingdom of Saudi Arabia: which is as follows:

Facility type	The maximum amount of financing
emerging	300 thousand Saudi riyals
Facilities not less than 3 years old	4 million Saudi riyals
Technical and digital facilities	4 million Saudi riyals
Entrepreneurs’ facilities	500 thousand Saudi riyals

• Work on financing new facilities within the development goal in line with an amount of 4 million Saudi riyals.
• It is possible for all customers to view all the details by visiting the link that deals with business products for new establishments within the Social Development Bank through the link here.

How do I benefit from supporting small enterprises? In this article, we have presented all the information and details related to how I benefit from supporting small enterprises, in order to work to raise the level of the economy in all cities of the Kingdom of Saudi Arabia.