Saudi Government Launches Platform to Ease COVID-19 Financial Burdens on SMEs

Published April 2nd, 2020 - 10:45 GMT
Saudi Government Launches Platform to Ease COVID-19 Financial Burdens on SMEs
The application will later be examined on whether it meets the criteria, and will either be approved or rejected within 10 working days. (Shutterstock)
Highlights
It said once an application for a specific feature is submitted through the system, an email will be sent to the beneficiary with the application number and requirements.

Small and Medium Enterprises General Authority (Monshaat) has revealed a number of services that it has recently provided on its Mazaya platform in line with the Saudi government’s measures to reduce the potential financial impact of the COVID-19 outbreak on SMEs.

These services are aimed at reducing costs and financial burdens on SMEs, for the success and growth of these establishments, and raising the quality of services provided to them.

According to a statement issued by the Authority on Wednesday, the platform provides supportive services to SMEs that are characterized by diversity, and at competitive prices, partially or totally subsidized.

This step was made to facilitate the commitment of enterprises to regulatory requirements, reduce operating costs on beneficiary enterprises, increase the efficiency of SMEs and improve their performance.

Services also include facilitating the access of enterprises to private sector services through a unified platform, as well as raising the quality of services being provided to SMEs, the statement explained.

Monshaat stated that owners of SMEs can view and apply for the services - such as creating a website, managing social media and Human Resources management - through the Mazaya platform.

It said once an application for a specific feature is submitted through the system, an email will be sent to the beneficiary with the application number and requirements.

The application will later be examined on whether it meets the criteria, and will either be approved or rejected within 10 working days.

Mazaya platform targets the education, manufacturing, real estate, agriculture, forestry, fishing, arts, entertainment, leisure, electricity, gas, steam, and air conditioning sectors, as well as information and communications.


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