Jeddah offers prospects for more small enterprises 

(MENAFN - Arab News) The Business Development Center (BDC), an affiliate to Jeddah Chamber of Commerce and Industry (JCCI), is proposing a series of measures that would bring about more chances for local investors to contribute to the Kingdom's sustainable development.

The BDC, founded by JCCI chairman Saleh Kamel, is committed to boosting of small and medium enterprises (SMEs).

Rezk Joma Rezk, BDCs financial and economic consultant, said the number of projects studied by the center totaled 36 and they are classified as follows, 10 industrial projects, two food, four educational, three transportations, five service and two fashion and female accessories.

The majority of these projects are profitable and needed for Saudi market, he stressed.

The owners of these projects have asked the BDC to provide them technical and financial support, and as many as five projects are currently under implementation at the worth of SR15 million, he said.

The BDC is offering all facilities, such as the feasibility studies, seeking partners, banks and funding institutions, he added.

Rezk said the Saudi small and medium enterprises are representing 70 percent of Saudi businesses.

"Funding is one of the main challenges facing them. As for the small enterprises, the fund needed for the implementation of small enterprises would range between SR500,000 to SR3,000,000 and for the medium enterprises the fund needed would range between SR3 million - SR10 million," he said.

Rezk said Jeddah still needs small projects such as workshops, advanced car maintenance projects and other projects that are related with the maintenance of building and housing complexes.