The Ministry of Commerce and Industry is considered as the competent authority for
Sole and Partnership businesses in KSA.
Partnership- As per Article 43 of Saudi Companies Law “A partnership is a company
that is not legally disclosed to third parties; does not enjoy legal personality; is not
subject to publication procedures, nor is registered in the commercial register.”
For SMEs
Monshaat- Established in 2016, the objectives of the General Authority for Small and
Medium Enterprises “Monshaat” are to organize, support, develop and sponsor the
SME sector in accordance with best global practices, to increase the productivity of
these enterprises and increase their contribution to the GDP from 20% to 35% by
2030. Monshaat works on supporting, developing and nurturing the SME sector in line
with best global practices by implementing and supporting programs and projects to
promote the cultural and spirit of entrepreneurship and innovation, and diversifying
sources of financial support for SMEs, and stimulating venture capital initiatives,
setting policies and standards for financing projects classified as small and medium
enterprises.
It also provides administrative and technical support for the establishments and
support them in developing their administrative, technical, financial, marketing,
human resources and other capabilities.
In addition to supporting the establishment of specialized companies in financing,
activate the role of banks and lending funds and stimulate them to play a larger and
more effective role in financing and investing in enterprises, establishing and
supporting the programs required for the development of enterprises, in addition to
establishing comprehensive service centers for establishments to issue all the
regulatory requirements, And electronic services to relevant public and private entities.
Monshaat is keen on removing administrative, regulatory, technical, procedural,
informational and marketing obstacles facing the establishments in cooperation with
the relevant authorities, and to create and regulate technology and business
incubators, as well as developing programs and initiatives to create and identify
investment opportunities for establishments and work on transferring and localizing
related technologies to enhance their productivity; “Supply Chain” is one of the
programs.
Monshaat enhances the collaboration between different governmental and
international entities related to Monshaat’s objectives.
It also works on organizing conferences, seminars, meetings, local and international
exhibitions by participating, and ensuring the implementations of its
recommendations, in addition to the preparation of studies, research, statistical
surveys and reports related, and proposing regulations, and policies for the
development and support of enterprises, and follow-up implementation after adoption.