\n\tJEDDAH: Saudi Arabia’s Small and Medium Enterprises General Authority, known as Monsha’at, has supported around 3,300 fast-growing businesses through its Tomoh program since its launch in 2017, helping 40 companies list on the Kingdom’s parallel stock market, a senior official said.<\/p>\n
\n\tTomoh is an entrepreneurial ecosystem that provides specialized services and programs in partnership with local and international organizations, enabling high-growth companies to access three core pillars: knowledge, markets, and financing, according to Mashhor Al-Sakkaf, business growth team leader at the program.<\/p>\n
\n\tTomoh-supported companies generate $10.1bn in revenue<\/p>\n
\n\tSpeaking during a workshop on the journey of high-growth enterprises with Tomoh at the Jeddah Chamber, Al-Sakkaf said companies participating in the program generated more than SR38 billion ($10.1 billion) in revenue, representing 19 percent year-on-year growth.<\/p>\n
\n\tHe added that companies listed on Saudi Arabia’s parallel stock market, Nomu, have reached a combined market capitalization of more than SR22 billion and have attracted over SR5 billion in investments.<\/p>\n
\n\tEmployment across companies participating in the program has also risen to more than 99,000 workers, reflecting annual growth of 18 percent.<\/p>\n
\n\tThe event highlighted success stories from companies supported by Tomoh, including media production company Telfaz11, human resources solutions provider Kabi, and the Reefi apparel company.<\/p>\n
\n\tJourney begins with registration on the Tomoh platform<\/p>\n
\n\tThe program has supported several successful companies, including Lana Medical Co. in the healthcare sector, Zid, which specializes in e-commerce solutions, Drahim in financial technology, and Sweater, a car care services provider.<\/p>\n
\n\tAccording to Monsha’at, companies seeking to join the program must qualify as small or medium-sized enterprises with annual growth of 20 percent or more in either revenue or employee numbers for three consecutive years.<\/p>\n
\n\tAl-Sakkaf said: \u201cA company’s journey begins by registering on the Tomoh platform, followed by a self-assessment comprising 145 questions to identify strengths and areas for improvement. Each company is then assigned a relationship manager before gaining access to specialized services and receiving a tailored growth plan designed to meet its specific needs.\u201d<\/p>\n
\n\tFinancing programs focus on listing readiness<\/p>\n
\n\tThe program\u2019s financing initiatives focus on preparing companies for listing on financial markets, governance, and financial advisory services, as well as connecting enterprises with investors.<\/p>\n
\n\tThe initiative also helps companies access expertise through specialists, knowledge-sharing trips, advisory services, and growth plans, while improving operational efficiency and supply chains.<\/p>\n
\n\tIt further supports market access through business-matching sessions, participation in international exhibitions, and connections with licensed export houses and trade missions.<\/p>\n
\n\tThe program aims to create a supportive environment for the growth and expansion of small and medium-sized enterprises, enabling them to build competitive advantages, expand into domestic and international markets, and improve operational performance beyond expected growth trajectories.<\/p>\n
\n\tRegarding ongoing international growth programs, Al-Sakkaf said work is underway to implement two initiatives and facilitate companies\u2019 membership in Endeavor and Entrepreneurs’ Organization networks to strengthen their global presence and expand investment and business connections.<\/p>\n
\n\tMore than 20 companies have also been sent to Turkiye to gain experience and learn from international markets.<\/p>\n","protected":false},"excerpt":{"rendered":"JEDDAH: Saudi Arabia’s Small and Medium Enterprises General Authority, known as Monsha’at, has supported around 3,300 fast-growing businesses…\n","protected":false},"author":2,"featured_media":788365,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-788364","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/788364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=788364"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/788364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/788365"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=788364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=788364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=788364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}