The third day of the Biban Forum 2025 witnessed a major boost for Saudi Arabia’s entrepreneurship and small business ecosystem, as 11 agreements and memorandums of understanding were signed and seven new financing portfolios launched, with a combined value exceeding SR7.6 billion ($2.03 billion).
According to the Saudi Press Agency, the new initiatives aim to strengthen the Kingdom’s small and medium enterprises (SME) sector and accelerate growth for entrepreneurs. The Small and Medium Enterprises General Authority, known as Monsha’at, led the agreements as part of its mission to enhance financing accessibility, promote innovation, and foster long-term business sustainability.
Monsha’at signed two major cooperation agreements with Tarmeez Financial Co. and Al-Taysir Arabia Finance Co., allocating SR4 billion and SR3 billion respectively to fund entrepreneurs and SMEs. An additional SR600 million was pledged through an agreement with Alfa Arabia Finance Co. to expand joint financing programs designed to support the growth and resilience of micro, small, and medium-sized enterprises.
The forum also emphasized human capital development and creative industry participation. Monsha’at signed agreements with the Crafts Association to organize three training camps to help artisans access raw materials and refine their skills. Another partnership with the Iktifaa Association seeks to develop social entrepreneurship through the “My Project 3” initiative.
In the private sector, a deal with Gulf Saudi Co. aims to involve small businesses and artisans in sports and entertainment events, while an agreement with Jahez Co. under the “Your Project is Ready” initiative focuses on empowering entrepreneurs to enter e-commerce through specialized training and technical support.
Monsha’at also reinforced academic collaboration through agreements with Prince Sattam bin Abdulaziz University and the Arab Open University to promote entrepreneurship education via workshops and training programs. An additional partnership with King Salman Science Oasis was signed to drive innovation and investment in technology-based startups.
On the development finance front, the Sulaiman Abdulaziz Al Rajhi Foundation for Development Finance, in cooperation with the General Authority for Endowments, announced a new financing product targeting Jana Fund beneficiaries. The initiative will provide loans ranging from SR60,000 to SR200,000 for productive families, based on project size and nature.
In parallel, the Saudi Finance Co. unveiled a tax return financing program that offers up to SR750,000 in operational funding for SMEs through streamlined digital procedures aimed at easing financial pressures.
The event also introduced a technology hackathon for non-profit organizations and a specialized cultural sector hackathon to encourage startups and innovative solutions in the creative economy.
These agreements and launches underline Monsha’at’s ongoing commitment to empowering entrepreneurs, fostering innovation, and advancing economic diversification in alignment with Saudi Vision 2030.
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