The Small and Medium Enterprises (SME) sector is thriving in Qatar, helped by continuous support given by the government. The good news for country’s SME sector is that Qatar will host high-profile 2020 Micro, Small and Medium Enterprises (MSME) Forum next year.
The Forum, which is an event owned by the International Council for Small Business (ICSB), is considered a key platform for addressing how MSMEs can be empowered.
Qatar Development Bank (QDB) is leading from the front in helping and promoting SMEs. QDB has developed extensive range of product and services to support SMEs and entreprenuers in Qatar.
QDB, as part of its industrial diversification efforts, has been actively providing all kinds of possible support to local firms, especially SMEs, micro-enterprises and other home-based manufacturers for several years.
However, after siege countries imposed unjust blockade on Qatar in early June 2017, QDB accelerated its activities and coordination with other private and government agencies, including various ministries, to collective achieve self-sufficiency in several products to allay dependence on imports.
In addition to extending financial assistance, providing incubation facilities, and all other kinds of possible support to local enterprises and startups, QDB was at the forefront of organising and participating in several exhibitions, conference, and other activities, in Qatar and overseas throughout the year.
QDB provides full support to Qatari SMEs by promoting Qatari products in international exhibitions and corporate matchmaking events. It also conducts exports assessments for companies and provides them with consultants to develop and equip entrepreneurs with the necessary skills needed in expanding into foreign markets.
Some of the popular financial products of QDB include Al Dhameen (credit guarantee programme), Istithmar (SME Equity), Ithmar (Seed Funding), Green House Financing, Export Finance, Export Insurance, Direct Lending.
QDB also offers several types of advisory services such as Jadwa (Feasibility Study), Tadqeeq (Accounting Services), Marketing & PR services, Incubationfacilities, SME Excellence, Franchise, Qatar Exchange Venture Market among others.
In addition, QDB also offers services related to marketing, legal services, market access, and others such as Oqood (legal services), Eyada (SME support services), Tasdeer (export promotion and development programme), SME Rating & Accreditation, Capability Development, Tasdeer Promotion business opportunity identification. QDB has extended a financial support of about QR8bn in 2018 to Qatari companies, including SMEs. Qatar is experiencing an extremely vibrant entrepreneurial ecosystem. Hosting the MSME Forum will further boost SMEs in Qatar as they will international exposure and will get chance for knowledge sharing with international experts.e
