What is this report about?
SMEs are key to the economic development of a country as they play a significant role in creating employment opportunities, encouraging innovation and entrepreneurship. With diversification and private sector development on the policy agenda, fostering SMEs growth will be vital. The report analyses the role of SMEs in Kuwait economic development, its contribution to the economic growth, evaluates the challenges faced by SMEs in Kuwait and provide strategies that can facilitate its growth in the country.
Who will benefit and why?
The report will benefit anyone who seeks to understand the SMEs landscape in Kuwait. It includes government agencies, startups, entrepreneurs and policy makers. This report would help these entities to gain in-depth understanding on the SMEs in Kuwait, the business and entrepreneurial ecosystem.
How exhaustive is this report?
The report provides the detail analysis of Kuwait SMEs contribution to the economy. Insights on the employees working in the sector, the proportion of the small businesses operating in and its contribution to the GDP are specified. We have also assessed the present business and entrepreneurial ecosystem, SME lending space, the various challenges faced by the Kuwait SMEs. With these evaluations few strategies to enhance SMEs growth in the country are recommended.
Table of Contents
- Key Highlights
- SME's: An Overview
- Kuwait SME's landscape
- Government’s SME initiatives so far
- Challenges to SMEs advancement in Kuwait
- Economic impact of COVID-19 on Kuwait SMEs
- Ways to alleviate the fallout and support SMEs growth
- Appendix
List of Figures
Figure 2.1: Employment Potential of SMEs in GCC (in millions)
Figure 3.1: SMEs contribution to GDP
Figure 3.2: Rank of GCC countries in the Global Entrepreneurship Index (among 137 nations)
Figure 3.3: Rank of GCC Countries in the World Bank Ease of Doing Business Index (among 190 nations)
Figure 4.1: Fund Channelization by sector: 2016-2019 (in million KD)
Figure 5.1: Challenges faced by SMEs in Kuwait
Figure 7.1: Saudi Arabian Fund of Funds Working Structure
List of Tables
Table 2.1: EU SME Definition
Table 2.2: SME Definitions Used by Multilateral Institutions
Table 2.3: GCC SMEs definitions
Table 2.4: GCC Main State Sponsored Initiatives
Table 3.1: Estimates on Size of the SMEs in Kuwait
Table 3.2: Sector wise share of SMEs of the total enterprises
Table 3.3: World Bank Ranking (Among MENA Region)
Table 4.1: Financing by Al Senai portfolio for Small Enterprises (2015- 2018)
Companies Mentioned
- Boutiqaat
- Carriage
- Delivery Hero
- German Rocket Internet
- Industrial Bank of Kuwait
- KAMCO
- Kuwait Small Projects Development Company (KSPDC) Al-Raeda Enterprises Company
- Talabat
