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21 August 2016
JEDDAH: The number of new businesses established in the Kingdom has increased to more than 204,000, according to statistics from the Ministry of Commerce and Investments. Growing 35 percent since 2015, in which there were only 71,000 businesses, the strength of the Kingdom's economy, in addition to the technical efficiency of handling commercial registries and the desire of a large number of young Saudi's to establish their own businesses are believed to be contributing factors behind the stark increase.
The number of new businesses established in the last year has varied from one region to another throughout the Kingdom. Qasim recorded the highest increase in new business, with a 63 percent increase overall. In Qasim, the number of new establishments amounted to 14,058 in 2015 in comparison to just 8,258 the year before, in 2014. The share of Qasim businesses out of the total number stood at 11 percent, while Baha registered the least number of new business, increasing just 11 percent over the past year. The equates to just 298 new establishments in 2015, accounting for 1.13 percent of the total number of businesses int he Kingdom.
Meanwhile, Riyadh had the highest share of the total number of the new establishments at 25 percent, with the total number of establishments exceeding 50,000. Makkah came in second place with a proportion of 20 percent.
JEDDAH: The number of new businesses established in the Kingdom has increased to more than 204,000, according to statistics from the Ministry of Commerce and Investments. Growing 35 percent since 2015, in which there were only 71,000 businesses, the strength of the Kingdom's economy, in addition to the technical efficiency of handling commercial registries and the desire of a large number of young Saudi's to establish their own businesses are believed to be contributing factors behind the stark increase.
The number of new businesses established in the last year has varied from one region to another throughout the Kingdom. Qasim recorded the highest increase in new business, with a 63 percent increase overall. In Qasim, the number of new establishments amounted to 14,058 in 2015 in comparison to just 8,258 the year before, in 2014. The share of Qasim businesses out of the total number stood at 11 percent, while Baha registered the least number of new business, increasing just 11 percent over the past year. The equates to just 298 new establishments in 2015, accounting for 1.13 percent of the total number of businesses int he Kingdom.
Meanwhile, Riyadh had the highest share of the total number of the new establishments at 25 percent, with the total number of establishments exceeding 50,000. Makkah came in second place with a proportion of 20 percent.
© Arab News 2016
