Empowering SMEs for National Economic Growth: A Saudi Perspective

The result of creating major government entities that focuses on enabling domestic economic capabilities through stabilization of the private sector, representing the small business entrepreneurs that works toward the establishment of SMEs, have transpired the creation of $624 billion worth of investment market that is overlaid in primary public utilities and services.

The literature review in this paper has found that the current global trends on the restoration and emergence of new global economies encourages the activities and motivates the vision of the small business entrepreneurs towards the advancement of a nationalized economic structure.

The restructuring of domestic economic interdependence may be ushered by the establishment of SMEs.

At hindsight, the relevance of systems thinking, government deliverables and the identification of secondary economic source would in fact the assimilating factor that is integral for the viability of entrepreneurship. As discussed and presented with several revalidated data, the SMEs in Saudi Arabia may successfully accomplish its extensive growth, provided that business and policy environment shall complement in the overall process of development.

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It may be then concluded that the confederacy of the small business entrepreneurs may overcome the vulnerability from the external benefactors, in which enabling the knowledge and skills will centralize the process of achievement, while devolution or transference of the supply chain to the local workforce shall optimize the equitable means of production and supply, and thus, restructuring the Kingdom will restore the nationalization of domestic economy from its “finders’ keepers”.

References

1. Ayyagari, M. , Beck, T. and Kunt, A. D. (2005). ‘Small and Medium Enterprises across the Globe’.
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   World Bank. Retrieved 08 November 2008 from http://siteresources. worldbank. org/DEC/Resources/84797-1114437274304/SME_globe. pdf.

2. Groysberg, B. , Nanda, A. and Prats, J. M. (2001). ‘Entrepreneurship Among Knowledge Workers: Evidence from Equity Analyst Market’. Retrieved 08 November 2008 from http://papers. ssrn. com/sol3/papers. cfm? abstract_id=285797.