GCC small business ‘boom’ to drive post-COVID economy as commercial registrations soar
- Commercial registrations increase 109 percent in Bahrain amid new wave of entrepreneurs
- 99 percent of businesses in Saudi Arabia are SMEs making 64% of employment
- The sector contributes 52 percent of non-oil GDP in the UAE and is set to rise to 60 percent
Manama, September 16 2020: Experts are predicting a GCC “SME boom” as a new wave of regional entrepreneurs emerge out of the COVID-19 pandemic.
Commercial registrations have seen triple-digit increases in recent months with tender boards across the region awarding tens of millions of dollars in contracts to these enterprises.
Now analysts are hailing the post-Coronavirus economy as an “era of startup growth” as governments focus on rebuilding their economies following months of reduced activity during the pandemic.
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