Saudi Arabia's SMEs rise to 1.3M by Q4 2023-end

Logo of Small & Medium Enterprises General Authority (Monsha’at)

The number of small and medium enterprises (SMEs) in Saudi Arabia increased by 3% quarter-on-quarter (QoQ) to 1.31 million by the end of Q4 2023, a report issued by the Small and Medium Enterprises General Authority (Monsha’at) showed.

The report highlighted that micro-enterprises make up 87%, or about 1.14 million, of the total enterprises in the Kingdom, as depicted in the table below:

Number of Enterprises by Size in Q4 2023
Enterprise Size	Q3 2023	Q4 2023	Change (%)
Micro	1100000	1138588	4%
Small	151170	150788	(0.3%)
Medium	18176	18723	3%
Total	1270000	1308099	3%

Riyadh accounted for the largest share of total SMEs in the Kingdom by the end of Q4 2023, comprising over 43%, or about 571,300 enterprises. Makkah came second, representing nearly 18.1% of the total SMEs, as illustrated in the following table:

Regional Distribution of SMEs in Q4 2023
Province	No. of SMEs (‘000)	Percentage of Total
Riyadh	571.3	43.7%
Makkah	237.3	18.1%
Eastern Province	140.1	10.7%
Other Provinces	359.4	27.5%

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