Program boosts SME's contribution to the local GDP currently marking 33%

Riyadh, December 19th, 2011. Under the patronage of H.E. Dr. Mohammed Al-Kathiri, Undersecretary of the Ministry of Commerce and Industry for Technical Affairs, Potential, a leading business development company, today launched its "SME Evolution Program" during a workshop held at the Marriott Hotel in Riyadh. The launching event was attended by Dr. Mohammed Al-Kathiri, Undersecretary of the Ministry of Commerce and Industry for Technical Affairs and representatives from each of Potential's local and regional partners including Modon, STC, SAP, Google, Intel, Aramex, and Zawya.

"SME Evolution Program" is a leading business development initiative that aims to help Small and Medium Enterprises (SMEs) increase its 33% contribution to the nation's GDP through improving their business efficiency and readiness, to enable them to compete internationally, expand their business, create more jobs, and eventually contribute to the development of the Saudi economy. The program provides diverse free training sessions to business leaders from the SMEs sector through a group of business consultants and specialists from various related fields.

Dr. Mohammed Alkatiri, Undersecretary of the Ministry of Trade and Industry for Technical Affairs said, "The Ministry of Trade and Industry recognizes the importance of the small and medium enterprise sector and its role in supporting the national economy and employment. It also supports all the parties, including chambers of commerce and industry through the establishment of the National Center for Small and Medium Enterprises to be under the umbrella of the Ministry."

Mohamed bin Nasser Al-Jasser, Vice President of Business Services in STC, expressed his appreciation to this initiative, and said, " STC is aware of the challenges facing SMEs in the labor market, and its participation and adoption of the SME evolution Program stems from its social responsibility objectives  throughout the Kingdom" and he stressed on STC's readiness to support similar programs that are in line with Potential's program, and calls upon all its clients and partners to take this opportunity and participate in the SME Evolution Program.

Abdulaziz Al-Noghaither, General Manager of Intel Corporation Saudi Arabia said, "SME's are clearly proving to be the modern foundations on which both developed and developing nations are building economic and social progress. These businesses are being used as catalysts to larger projects in cities around the world.  Larger companies, like Intel have a key role in supporting this sector by helping the organizations find healthy environments in which to grow and thrive, while simultaneously providing technical support and expertise. We are also here to support a new and young generation of businessmen and aid them in honing their skills. Ultimately, we hope to maintain the larger governmental objective of exponentially growing a knowledge-based economy."

"SMEs are a crucial part of the ecosystem in the region. We're excited to be part of this initiative as the Internet enables SMEs to be easily reached by their local and international customers and suppliers." added Abdulrahman Tarabzouni, Regional Manager, Google - Emerging Arabia.

"The SME Evolution Program is a much-needed initiative that will have a dramatic and hugely positive impact across Saudi Arabia," said Sam Alkharrat, Managing Director, SAP MENA. "SMEs are the ultimate creators of sustainable jobs that strengthen communities and serve as a vital contributor to GDP due to their flexibility to innovate and meet market demands. As Saudi Arabia expands its world-class infrastructure and vision, the SME Evolution Program will play a critical role in setting an example across the Arab world by stimulating the development of existing SMEs, begetting new companies through better solutions and providing greater access to markets," he added.

Abdulaziz AlNowaiser, National Executive Manager for Saudi Arabia at Aramex, the global logistics and transportation solutions provider, also highlighted the significance of Potential's initiative in moving SMEs business to a further step of development. "Aramex is very pleased to partner with the 'SME Evolution Program,' in offering this program in the Kingdom of Saudi Arabia. It is an important initiative that will help Saudi small businesses achieve the next stage in their growth, and our support reflects the core values and entrepreneurial culture of Aramex, which is committed to leveraging resources, knowledge, expertise and networks to nurture the expansion of Saudi SMEs across the region," added AlNowaiser.

Gunnar Skoog, CEO, Zawya added "From management & financing, to marketing & technology, Small and Medium Enterprises (SMEs) in the region face many challenges and deserve all the support they can get. "Through our partnership with Potential and the SME Evolution Program, Zawya is empowering regional entrepreneurs and SMEs with relevant, valuable and engaging business intelligence they need to start, grow, and expand their business in the Middle East & North Africa."

Potential's Managing Partner, Shadi Banna, expressed his gratitude to the sponsoring companies and partners and stressed on their massive contribution to the success of the program, and said: "small and medium enterprises represent around 90 percent of operating Saudi companies, while they only contribute by 25% to total employment figures and 33% to the GDP, which is relatively modest in comparison to its counterparts in global markets. Through our program, we aim at contributing to the development of the Kingdom's SMEs sector and its performance. This goes in line with the government's ninth development plan aimed at diversifying sources of income in the local economy by supporting the private sector. The program runs for three months, and we are keen on maintaining its successful results achieved in UAE, Qatar, Oman and Lebanon. The program is set to be launched in Turkey after the Kingdom."

The 'SME Evolution Program' includes 24 free 'webinars' or online interactive training sessions as well as live workshops that are planned across the Kingdom to highlight best practices in business development, expansion and competition. The program is offered in English and Arabic languages and discusses a wide array of SMEs-related topics including strategy, innovation, leadership, talents, brands, marketing, sales, project management, expansion, financing and investment among others.

SMEs may register in the free webinars through the following website: www.potential.com/sme-registration.

Further information about Potential is available at www.potential.com.

-Ends-

About Potential:
Potential has pioneered the innovative Next Generation Performance framework for DEVELOPING STARS, whether Individual Entrepreneurs, Large Organizations or employees within SMEs. Founded in 2005 with headquarters in Dubai and team locations across the Middle East region, Potential is supporting thousands of individuals and hundreds of companies to kick-start their businesses, improve their performance, boost sales, improve customer service performance, innovate, expand and develop their Next Generation Leaders.

The company's portfolio consists of consulting, coaching and training capabilities, deployed across products such as the flagship Potential Entrepreneur program for Individual Entrepreneurs as well as bespoke development programs for SMEs and Large Organizations. Potential follows a special and unique methodology of work with its customers. It uses a customized sequential program to evaluate the situation of the client's business, discover areas that need improvement, undertake training and onsite coaching and then re-evaluate results.

During the past 5 years, Potential helped dozens of entrepreneurs to startup their companies and supported hundreds of SMEs to expand their business. Moreover, Potential has provided tailored performance improving programs to over 50 leading corporations including Abu Dhabi Chamber of Commerce, Doha Bank, Dell, Du, Belkin, HP, and Saudi Telecom.

For more information, please visit: www.potential.com

About STC
STC is the leading national provider of telecommunication services in the Kingdom of Saudi Arabia. The company is working continuously to fulfill and satisfy the market requirements, keeping pace with the emerging technologies in the telecommunications sector and satisfying its customer's needs. STC has put in its consideration that, this is the way to reinforce its position and identity in view of a changing world where the role and usage of telecommunications became more significant

In the last few years, STC has gone beyond its local borders to the international markets, forming a network of businesses and investments in 11countries which has enabled STC to serve more than 160 Million customers and the company seeks to increase internationally through studying and evaluation of potential investment opportunities in the future in line with lead Strategy.

About Saudi Industrial Property  Authority MODON
Modon was Establieshed under the Council of Ministers Resolution No. (235), dated 27/8/1422 , MODON's primary role is developing, managing and maintaining industrial cities in the Kingdom with state of the art integrated infrastructure, MODON has 32 industrial cities strategically positioned across the kingdom map, currently it oversee 75 million m2 and plan to double the developed industrial lands area to be 160 million m2 in the next five years. MODON provides their industrial lands mainly for SMEs for all kinds of industries with very competitive land rental fee and subsidized electricity and water tariff. MODON through the coordination with other governmental authorities provide SMEs with financing up to 50% in the major cities and up to 75% in the remote cities and provide also tax exemption for the imported raw materials and equipments.

SAP
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 170,000 customers (includes customers from the acquisition of Sybase) to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

About All World Network:
AllWorld Network was established in 2007 by Deirdre M. Coyle Jr., Anne Habiby and Professor Michael E. Porter of the Harvard Business School, after many years of promoting entrepreneurship in the developed and developing worlds.  Recognizing that entrepreneurship drives economic growth and innovation, AllWorld's mission is to find and advance ALL the growth entrepreneurs of the emerging world by 2015.  AllWorld does that by creating Fast Growth rankings: Africa 500, Arabia 500, Asia 500, Eurasia 500 and Latin America 500.

AllWorld's goal is to give entrepreneurs the visibility and leadership skills to take their companies and their countries to the next level. The 500s establish a definitive record of the fastest growing, most dynamic entrepreneurs in the region. By shining a light on these emerging business leaders, the 500 lists facilitate access to capital, open new markets for entrepreneurs, provide real time feedback to policy makers, and put momentum behind these entrepreneurs as they create the next economy for their countries.

About Google:
Beginning in 1996, Stanford University graduate students Larry Page and Sergey Brin built a search engine called "BackRub" that used links to determine the importance of individual web pages. By 1998 they had formalized their work, creating the company you know today as Google. 

Since then, Google has grown by leaps and bounds. From offering search in a single language we now offer dozens of products and services--including various forms of advertising and web applications for all kinds of tasks--in scores of languages. And starting from two computer science students in a university dorm room, we now have thousands of employees and offices around the world. A lot has changed since the first Google search engine appeared. But some things haven't changed: our dedication to our users and our belief in the possibilities of the Internet itself.

About Intel:
Intel [NASDAQ: INTC], the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and  live. Additional information about Intel is available at www.intel.com/pressroom and blogs.intel.com

About Aramex  
Aramex is a leading provider of comprehensive logistics and transportation solutions. Established in 1982 as an express operator, the company rapidly evolved into a global brand recognized for its customized services and innovative multi-product offering. Traded on the NASDAQ from 1997 to 2002, Aramex today is a publicly traded company on the Dubai Financial Market (DFM: ARMX), employing more than 8,600 people in 310 locations, and leads a strong alliance network providing global presence, and bringing together 40 independent express companies from around the world. The range of services offered by Aramex includes integrated logistics solutions; international and domestic express delivery, freight forwarding, secure records and information management solutions, e- services including e-business solutions and Shop & Ship.

About Zaywa:
Zawya enables over 750,000 professionals to find and connect to the right business and investment opportunities in both private and public markets across the Middle East. Zawya's wide range of unique content and tools includes detailed company profiles, timely aggregated news including Zawya-Dow Jones, leading industry and asset class research, as well as an exclusive online network. Headquartered in Dubai, Zawya has presence in Saudi Arabia and Lebanon.

MEDIA CONTACTS
Loma Jaber
T: +966 56 56 30190
Email: loma@duocomgroup.com, loma@potential.com

For further information, please contact: 
MEDIA CONTACTS
Loma Jaber
T: +966 56 56 30190
Email: loma@duocomgroup.com

© Press Release 2011