Saudi Press

Saudi Arabia and the world
Tuesday, Jun 24, 2025

Forum seeks to spur growth of SMEs in Saudi Arabia

Forum seeks to spur growth of SMEs in Saudi Arabia

Saudi Arabia’s global small and medium enterprises forum is set to return on March 9 at the Riyadh Front Exhibition & Conference Center with the largest audience yet, according to a statement.

Also referred to as Biban 2023, the event — which runs until March 13 — is expected to witness the participation of over 350 speakers as well as an estimated 105,000 attendees from the Kingdom and all over the world.

Prominent international speakers scheduled to attend the forum include South Korea’s SMEs and Startups Minister Lee Young, YouTube CTO and Co-founder Steve Chen, Global Entrepreneurship Network board chairman Jeff Hoffman and Chris Barton, founder and creator of Shazam.

The event — organized by the General Authority for Small and Medium Enterprises, also known as Monsha’at — is also on track to host as many as 300 diverse workshops. This year’s forum will be held under the theme “Attract-Connect-Achieve.”

Through the sharing of knowledge, skills, and resources, the five-day event aims to capture and shed light on potential and tangible opportunities for SMEs, entrepreneurs, and local and international investors.

It would be pertinent to mention that according to the Global Entrepreneurship Monitor’s 2022 National Entrepreneurship Context Index, the Kingdom is now the second-best economy in the world to start a business, reflecting a rapidly advancing startup ecosystem, and a wealth of business opportunities for local and international entrepreneurs.

Biban 2023 will also host nine key areas or doors including the Growth Door, the e-Commerce Door, the Innovation Door, the Finance Door, the Startup Door, the Market Door, and the Empowerment Door, among others.

Doors of opportunity

The “Growth Door” contributes to introducing the owners of existing projects to several areas including administrative, operational, marketing, legal, and technical that ensure the expansion of the project.

The “e-Commerce Door,” in which more than 80 supporting entities will participate, seeks to promote development in the e-commerce sector, increase its sales and potentially contribute to strengthening the economy by providing everything that a business owner needs to launch into the world of e-commerce.

The “Innovation Door” aims to stimulate creative aspects or works to discover smart entrepreneurial ideas. It will also introduce beneficiaries to emerging technologies and their applications, in addition to the most prominent supporting bodies based on innovative solutions.

The “Finance Door” will open new channels as well as various financing solutions while bringing together financing and investment agencies under one roof, in cooperation with supporting public and private agencies. This door aims to bridge the financing and lending gaps for SMEs in a way that enables the entrepreneur to find the right partner for the project at hand.

The “Market Door” will serve as a platform for startups and SMEs to display their products and provide their services. It also works on motivating local and international business owners of SMEs to expand internationally with their projects and brands.

The Saudi Vision 2030 seeks to boost the SME sector’s contribution to the gross domestic product to 35 percent within a decade.


The “Startup Door” defines the support provided to startups and entrepreneurs by providing an enhanced environment for spreading awareness of SMEs, while raising the level of communication between project owners, investors, and supporting entities such as incubators and accelerators.

The “Empowerment Door” includes more than 120 supportive and empowering entities targeting owners of SMEs and businessmen by providing services and initiatives to empower and support entrepreneurs, especially those who own or manage SMEs.

Key sessions


The first day of the event will witness six key sessions: The importance of entrepreneurship for economic development and the growth of key sectors in the Kingdom; South Korean SMEs exploring opportunities in the Kingdom; Funding and talent a key showstopper of growth driver powered by endeavor; The journey to IPO; Investing in technology: what investors are looking for; and Financing entrepreneurship — an opportunity or risk for commercial banks?

The second day will hold three chief sessions: International startups unlocking opportunities in the Kingdom; Bridging international ecosystems: enhancing collaboration between SME authorities; and Why we need an ambitious generation.

As for the third day, four key sessions include: The importance of startups and SMEs for the global travel and tourism sector; The increasing role of environmental, social, and governance and what startups and SMEs need to consider; Fintech revolution: how technology is disrupting financial services; and Venture debt versus venture capital — what is the right approach and when?

The fourth day of the event will also host four main sessions: How to bring an idea to life: A guide to ideation + questions from the audience; How to handle high stakes negotiations; synergies with giants: how startups can integrate into leading tech companies; and the race for funding: what are venture capitalists looking for?

The final day of the event will conclude with one major session titled: Creating a giant: How YouTube was able to disrupt the entertainment industry.

Entrepreneurship World Cup


The final round of the Entrepreneurship World Cup is a key part of Biban 2023. The finale will include competitors from more than 200 countries hoping to secure cash prizes worth over $1 million. Since its inception, more than 400,000 entrepreneurs from around the world have registered.

Biban 2023 is expected to contribute to the creation of a catalytic environment in collaboration with the public as well as the private sector stakeholders.

The SME sector is perceived as a vital economic engine, a key generator of employment, and the foundation of the global economy, Ahmad Al-Sa’adi, senior vice president of technical services at Saudi Aramco, said in an interview with Arab News a few months ago.

Saudi Vision 2030 seeks to boost the SME sector’s contribution to the gross domestic product to 35 percent within a decade.

SMEs are set to play a significant role in achieving Saudi Arabia’s objectives of lowering the unemployment rate from 11.6 percent to 7 percent and increasing women’s participation in the workforce from 22 percent to 30 percent.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
×