SMEs Development Board

Brief about “SMEs Development Board”:

Under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, and Chairman of the Economic Development Board, the SMEs Development Board was established in June 2017 to enhance the entrepreneurship sector and promote the growth of small and medium enterprises (SMEs).

The board comprises representatives from several key organizations, including the Ministry of Industry and Commerce, the Economic Development Board, the Labor Fund (Tamkeen), the Bahrain Development Bank, and the Tender Board. Additionally, a working group has been formed that includes all board members along with representatives from the Bahrain Chamber of Commerce and Industry In this context, an Integrated Tasks Plan has been developed for the SMEs Development Board (SDB) covering the next five years.

This plan outlines initiatives and programs prioritized under five strategic themes: Access to Finance, Access to Market, Streamlining the Business Environment, Skill Development, and Fostering Innovation. It also focuses on three key performance indicators (KPIs): increasing the contribution of SMEs to the GDP, boosting the contribution of SMEs to exports, and elevating the number of Bahrainis employed in SMEs On January 30, 2022, the Economic Development Board approved the updated action plan (2.0) for the SMEs Development Board for the years 2022-2026, aligning it with the broader economic recovery plan.

Stakeholders:

Ministry of Industry, Commerce and Tourism