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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