Saudi Arabia’s TDF announces to launch of a program under which 10,000 SMEs in the Kingdom will get aid
RIYADH: The Saudi Tourism Development Fund (TDF) has announced the launch of a tourism assistance program to support 10,000 small and medium enterprises SMEs in the Kingdom, the Saudi Press Agency reported.
The program is divided into three sections that cover the capital of the company: the practice of testing, innovation, and hospitality. Under this program, TFD will provide financial and non-financial assistance to SMEs with various objectives, such as starting a new business activity or expanding a business through the process of travel cost analysis.
The Program will run alongside the TDF Grow initiative, which connects start-ups with international leaders in the public and private sectors to create economic impact and business opportunities.
Tourism Development Fund (TDF) Grow provides a variety of non-financial services to support startups and strengthen their operations by giving them direct access to the market. It is building a new joint venture in Riyadh to help develop a tourism industry that values relationships and partnerships.
TDF’s pre-seed program also teaches entrepreneurs the latest industry trends and allows them to design, navigate and support their business needs in the marketplace.
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“Micro, small and medium enterprises are the backbone of any economy in the world, and often due to the limited resources and experience of this type of business, they face challenges in developing their business and achieving their goals.” TDF President Qusai Al-Fakhri said.
“This program, which we announced today, will help (the company) with growth opportunities, whether through financing, skill exchange or mentoring,” Al-Fakhri added.
