Small and medium-sized enterprises (SMEs) in Bahrain are being encouraged to set their sights far beyond the kingdom, with a new drive aimed at transforming local success stories into Gulf and Arab regional brands.
The new programmes are expected to focus on strengthening business capabilities, expanding regional networking opportunities and helping entrepreneurs develop competitive brands capable of succeeding in larger Gulf and Arab markets.
The initiative reflects a growing push to position Bahraini SMEs, which comprise 93.4 per cent of the country’s total commercial registrations (around 86,000 CRs), as regional players rather than businesses confined to the kingdom’s domestic market.
The initiative is being spearheaded by Capital Trustees Board vice-chairwoman, Bahrain Small and Medium Enterprises Development Society vice-chairwoman and Better Life Society vice-chairwoman Dr Khulood Al Qattan, as the society rolls out new programmes designed to equip entrepreneurs with the tools needed to expand beyond Bahrain.
Dr Al Qattan said the kingdom’s limited domestic market meant ambitious businesses had to adopt a regional mindset from the outset.
Dr Al Qattan
“Bahrain is a small market, so the reach has to be much bigger if businesses are to maintain growth, control costs and improve their chances of long-term success,” she said during the Capital Trustees Board general-secretariat meeting yesterday.
“We already have many successful businesses operating through Instagram, but that should only be the beginning. Entrepreneurs need to look towards the Gulf market first and then expand across the Arab world.”
She highlighted Bahrain’s thriving food sector as one of the country’s strongest success stories, while pointing to packaging, branding and product presentation as industries with enormous untapped potential.
“Food businesses continue to perform well, but there is also a huge opportunity in packaging and wrapping. These supporting industries can become strong businesses in their own right and help Bahraini products compete internationally.”
Parliament’s financial and economic affairs committee chairman, Bahrain Chamber treasurer and Bahrain Small and Medium Enterprises Development Society chairman MP Ahmed Al Salloom welcomed the initiative, saying the next chapter for Bahraini entrepreneurs should be regional expansion.
“Small and medium enterprises make up a significant part of Bahrain’s economy, but the time has come for them to spread their wings,” Mr Al Salloom said.
“These new programmes will help entrepreneurs build stronger businesses capable of competing across Gulf and Arab markets. I encourage every aspiring businessman and businesswoman to seize this opportunity and think beyond Bahrain.”
Capital Trustees Board chairman Saleh Tarradah said empowering entrepreneurs to grow internationally would also strengthen Bahrain’s economy and reinforce the kingdom’s reputation as a regional hub for innovation and enterprise.
Mr Tarradah
“Bahrain has always been a land of entrepreneurship, innovation and opportunity,” he said.
“When our SMEs succeed beyond our borders, they showcase Bahraini talent, create new economic opportunities and contribute to sustainable growth. Supporting ambitious entrepreneurs today is an investment in Bahrain’s future prosperity.”
mohammed@gdnmedia.bh
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