The “Large Enterprises Support Scheme” will be added to the multitude of business Schemes offered under Tamkeen’s flagship Enterprise Development Support Programme that seeks to improve the efficiency and growth of Bahrain-based large enterprises.
The co- financing initiative will provide technical support to large Bahraini business enterprises through help them acquire the latest industrial machinery and technology to accelerate growth, expand and diversify operations and achieve further sustainability. Under this scheme, Tamkeen’s contribution will be 50%, up to a maximum of BD150000 of the cost of the machinery and all related costs.
Eligible enterprises must have an active Commercial Registration Certificate, should also earn annual revenue equal to or more than BD5 million and must be able to provide audited financial statements. Furthermore, the enterprise should commit to hire minimum two Bahrainis or increase the wage of at least 2 existing Bahraini employees. Applications will be evaluated and approved by Tamkeen’s Enterprise Development Support Agency on a first – come first served basis.
“The Large Enterprises Scheme” is a new Tamkeen strategic initiative designed to support business Enterprises across all sectors to uplift large enterprises’ capabilities and performance as well as create sustainable and well paid employment for Bahrainins,” Tamkeen’s Private Sector Support Senior Manager Mohammed Bucheery, said.
Bucheery affirmed Tamkeen’s commitment to continuously introduce further market initiatives to accelerate economic growth in line with Bahrain’s vision of 2030. He further pointed out that around 3000 Bahraini businesses have benefited from the Enterprise Development support Programme to date and over 1000 enterprises received support by Tamkeen to take part in leading national and international trade exhibitions.
Tamkeen had announced earlier this year that it has allocated a total of BD104 million dedicated to human capital development and enterprise support of the private sector. Around BD51 million have been allocated to the various enterprise support programmes for the year 2012.
The enterprise support programmes include Tamkeen’s Enterprise Growth Management Programme which includes: the Business Development Scheme (Istishara) to assist in the strategic planning and determining vision and goals of the organisation, the Technical Assistance Scheme (Tachania) to provide support for the purchase of latest enterprise-related tools and equipment, the Quality Management Systems Scheme (Jawda) to assist in the design and application of world-class quality standards, the Growth Assistance Scheme (Tarweej) to support enterprises’ participation in local and international events and exhibitions, and the Marketing Assistance Scheme (Tasweeq) to provide support in the design and implementation of effective marketing and communications strategies, the Large Enterprises support Scheme allows Large Enterprises to acquire industrial machinery and technology.
Business owners interested in benefiting from the Large Enterprises Scheme (LES) can visit Tamkeen’s Enterprise Development Support Agency at Meral Building located in Seef area, or call 17 565399, 39142624 , or email edsa@tamkeen.bh.