Employment within SMEs also surged, with more than 8.4 million Saudis and residents now working in the sector, highlighting the crucial role of small businesses in Saudi Arabia’s ongoing economic transformation.
Saudi Arabia’s small and medium enterprise (SME) industry is seeing remarkable growth. Recent data from the Small and Medium Enterprises General Authority, Monsha’at, show an increase in interest in business registrations, employment, and financing.
The findings, published in Monsha’at’s latest report Biban 2025: A Destination of Ambition in a Nation Abounding with Opportunities, coincide with the opening of the Biban Forum 2025 in Riyadh, an event that has become the centerpiece of the Kingdom’s entrepreneurial ambitions.
The Biban Forum took place in the Riyadh Front Exhibition and Conference Center from November 5 to 8. It attracted a very large and international audience of over 140,000 participants from more than 150 countries. The event brought together startup founders, investors, policymakers, CEOs, and innovators, making Saudi Arabia a magnet for entrepreneurs and investors.
The report shows that 1.7 million businesses may have active licenses in Saudi Arabia by the end of the third quarter of 2025. Employment within SMEs also surged, with more than 8.4 million Saudis and residents now working in the sector, highlighting the crucial role of small businesses in Saudi Arabia’s ongoing economic transformation.
A key achievement spotlighted in the report is the growing participation of Saudi women in the workforce. Around 43% of women are employed, which shows that the initiatives taken by Saudi Arabia as part of Vision 2030 have helped women get opportunities in business and take on leadership roles, contributing to a more diverse and inclusive economy.
The Kingdom’s drive to diversify beyond oil is also apparent in the tourism and real estate sectors. The number of visitors spending in Saudi spending increased by 9.7% during the first quarter of 2025, as Saudi Arabia continues to make efforts to attract international tourists.
The real estate market is also growing, with over 47,000 houses still in off-plan residential units licensed in the third quarter of 2025.
A 72% growth is also observed in the e-sports industry. Around 9,603 registrations were made related to gaming by the end of the third quarter, as Saudi Arabia attempts to become a regional leader in this dynamic field.
Financing for micro, small, and medium-sized enterprises has also reached unprecedented levels. Lending to SMEs increased by 20% year-on-year during the second quarter, with commercial banks providing 96% of the total funding.
There has been an increase in small businesses, largely due to economic reforms, easier access to credit, and government initiatives aimed at empowering businesses nationwide. The Public Investment Fund (PIF) continues to play a pivotal role in supporting priority sectors and driving long-term growth.
The Biban Forum, which is being staged this year under the theme “Global Destination for Opportunities,” helps act as a bridge between local and international entrepreneurs through partnerships and deal-making. They conduct panels, workshops, and signing ceremonies, as well as Global Finals of the Entrepreneurship World Cup (EWC), to help with this goal.
Riyadh is hosting the EWC Global Finals for the third time, in collaboration with the Mohammed bin Salman Foundation and the Global Entrepreneurship Network. The competition has attracted over 10,300 applicants from 169 countries who are competing for 1.5 million dollars in cash prizes and access to leading international investors and mentors.
As part of Vision 2030, which aims to make Saudi Arabia a diversified, knowledge-based economy, Monsha’at and the Biban Forum are supporting entrepreneurs by helping them scale their businesses and access new opportunities. There can be momentum seen in various industries, which shows that the Kingdom is well on its way to becoming a global hub for innovation, investment, and enterprise.