Addressing a Press conference on Sunday to announce the 4th Annual SMEs Conference and Exhibition takes place from 10th to 12th December in Bahrain, Dr. Hasan Al Dairi, Chairman of Bahrain SMEs Society said though the Ministry of Industry and Commerce has been very supportive for this segment of the economy yet we need an independent entity and not 40 organisations or entities.
The Press conference was also addressed by Her Highness Shaikha Hessa Saad Abdullah Salem Al Sabah, President of Arab Businesswomen Council, Her Highness Shaikha Hind Bint Salman Al Khalifa, President of Professional and Businesswomen Club Bahrain Chapter and Abdulkareem Rashid Assistant Undersecretary for Industrial Affairs at the Ministry of Industry and Commerce.
This year’s event titled Entrepreneurial Ecosystem for SMEs in GCC is expected to attract 500 delegates and participants who will share their expertise over three days on the development of sustainability of the SMEs sector in the region.
In Bahrain SMEs sector forms an integral part of the national economy with over 90% organisations fall in the category of the SMEs.
“We need to protect, develop and nurture this vital segment of the national economy,” Dr. Hasan Al Dairi said, adding that there have been considerable development in this regard but more concerted efforts were required to help and sustain the SMEs sector.
Shaikha Hind Bint Salman Al Khalifa, President of Professional and Businesswomen Club Bahrain Chapter stressed the need to educate start-up business owners how to climb successfully on the ladder from a micro to small and medium business (SMB).
“Many start-ups never realised their potential and how to utilise the available resources and techniques. The upcoming regional Forum will be a right platform to help many to understand the concept,” she said.
“The start-up businesses in Arab region lack financial and technical support and many new businesses end up with reaching to the bloom,” Her Highness Shaikha Hessa Saad Abdullah Salem Al Sabah, President of Arab Businesswomen Council, told the Press conference.
Talking about State of Kuwait’s strategy on SMEs HH said that there had been many initiatives supported by the top leadership by providing finances for the SMEs sector. “We have a fund of $500 million dedicated for the SMEs and also recently Kuwait pledged over $1 billion to help the SMEs sector in the Republic of Egypt,” HH said.
Abdulkareem Rashid Assistant Undersecretary for Industrial Affairs at the Ministry of Industry and Commerce highlighting the importance of the Higher Committee for SMEs led by the Minister Dr Hasan Fakhro said that it was the highest platform for SMEs.
“The Committee on SMEs brings all relevant organisations and entities under one umbrella of the Ministry of Industry and Commerce. The committee meets on regular basis to address all related issues promptly. This the first time that the national definition of SMEs and micro businesses has been defined to avoid any confusion,” he explained.