Entrepreneurial finance, innovation and profitable growth among Saudi Arabian SMEs

Issue of concern

Keeping in mind the end goal to settle on educated choices it is critical to know the predominant conditions. It aides dodge replication and duplication of endeavors where it is not required. Knowing existing conditions aides recognize opportunities and aids to create plans for deliberate intercession. This study will basically survey existing activities of Saudi Arabia for business development. It will distinguish the current partners of the business in the nation, their work and potential for reasonable mediations to further enterprise reflecting Saudi Arabia's financial advancement process. The paper would assess determinants of entrepreneurship in Kingdom, factors deteriorating innovation, opportunities of entrepreneurial finance, educational and business opportunities to overcome challenges of SMEs and we will be identifying profitable growth frameworks for success of Saudi Arabian SMEs.

Main Research Questions:

What are possible frameworks of Entrepreneurial finance, innovation and profitable growth among Saudi Arabian SMEs?

Research Objectives:

The research objective of this paper are;

·         To study the way of Saudi entrepreneurship edges and work economic situations alongside activities to be taken by the important commanding voices.

·         To focus the essential requirements to identify innovative technologies in Saudi Arabia.

·         To investigate the activity of task administration abilities that can enable business visionaries and SMEs in profitable growth.

·         To build the worth expansion of business and SME's in entrepreneurial finance.

·         To examine the part of business visionaries and SME's in supporting financial development of Saudi Arabia by innovation.

Literature Review:

In spite of the fact that business is a standout amongst the most well-known points of our time, the most squeezing assignment is to characterize enterprise (Alemany, 2014). It ought to be expressed that there is no broad assentation about the significance of this term. As specified via (Feld, 2012), there are two particularly distinctive methodologies in characterizing enterprise. The principal is to characterize what business people are and afterward watch them. The second is to propose an earlier meaning of business enterprise and its connected practices, and in this way characterize business people as the individuals who take part in entrepreneurial movement. In actuality, enterprise activities are generally new to the Kingdom of Saudi Arabia (Ossai & Lucky, 2012). On the other hand, understanding the significance of the SMEs division the administration has made various strides so as to help the entrepreneurial movement and trigger monetary development. Keeping the above studies in perspective it is apropos here to comprehend existing conditions and guide the part of distinctive partners of business in the kingdom and plot them on the areas of enterprise biological community.

Saudi Arabia is the biggest economy in the GCC and throughout the most recent eight years, the nation's financial plan has ascended from $69 billion to $170 billion. In spite of this development, SMEs add to just 25 percent of aggregate job and just 33 percent to the nation's GDP, however the SMEs cosmetics 92 % of the organizations in the nation (Lloyd-Reason & Sear, 2007). Case in point, in Spain SMEs add to 64.3 percent of GDP, or even Austria where SMEs contribute 44 percent. The accompanying figure 2 show chose pointers for financial development of Saudi Arabia and its positioning in distinctive activities. The outcomes are empowering and the nation is very much put  (Berkery, 2007). The compelling expense of capital is regularly high on the grounds that normal loaning organizations have some major snags assessing new organizations, particularly those creation regions with which they are not commonplace. Accordingly, giving organizations frequently oblige ensures or insurance past the method for the borrower  (Kola, 2001). Most SMEs in the kingdom are not fulfilled by the current banks/money related foundations. They discover credit systems extremely entangled. The greater part of them are not able to meet the requests for individual certification and securities. Most SMEs likewise fight that, contrasted with the terms given with the nations bigger, more settled firms, banks are by and large excessively inflexible with their terms, existing advance methods are excessively bulky, and there is a lot of trouble getting credits (Looney, 2004).

Incidentally, given the capacity of SMEs in numerous creating nations to make neighborhood employments, numerous Saudi SMEs make not very many. As a feature of the nation's Saudization program, whereby the rate of the employments held by Saudi nationals was to achieve 30 percent before the end of 2003, a hefty portion of these organizations have overseen just minor advancement — two percent by and large on account of little ventures (Mitsuo, 2002). As is frequently the case, imported capital and innovation have, essentially, made numerous SMEs reliant on outside experts and labor. In light of the pervasiveness of imported gear over the kingdom, numerous organizations confront tight work markets for gifted specialist.

Research Methodology

i.                    Research Tools

The research tool will be used to achieve our research objectives will be a comprehensive and concise list of questionnaires. The questionnaires will cover means of entrepreneurial finance, need of innovation, role of Small and medium sized enterprises profitable growth Saudi Arabian SME’s.

ii.                  Sample Size

Initially, we have decided that the questionnaire will be distributed to almost 200 SMEs and 500 Entrepreneurs working in the Kingdom of Saudi Arabia. However, we are positive to get above 80% response rate.

iii.                Analysis Tools

The results and findings of the questionnaire will be statistically analyzed to find statistical significance between different variables. We will be using SPSS and R Software to identify effect of different variables using Linear Regression analysis and average results using mean.

Outcome

The final research study will be well-documented Report containing presentations of questionnaire responses, summary of discussions and major conclusions and recommendations, which can provide a road map for entrepreneurial finance, innovation and profitable growth among SME's in Saudi Arabia.

------------------------------------------------------------------------------------------------------------------------------------------------------------

Are you SEARCHING for SOLUTION(S) of this assignment or similar to this?

Our professional writers are available 24/7 we offer:

+ Lowest price then other online writing services.
+ Zero% plagiarism at all.
+ Free Harvard Style Referencing.
+ Free amendments in your work for unlimited number of times.
+ Pay only after your order is accepted.
+ Secured payment methods (Skrill, Bank Transfer, Western Union).

----------------------------------------------------------------------------------------------------------------------------------------------------------

Like Us on Facebook!