Monsha’at: SAR 1.6 Billion Invested in E-Commerce Projects in 2023

The General Authority for Small and Medium Enterprises (Monsha'at) has released the report "Small and Medium Enterprises and Promising Prospects for E-Commerce." The report aims to provide insights into the e-commerce system in the Kingdom of Saudi Arabia and government initiatives supporting the small and medium enterprises sector. Available in Arabic and English, the report covers key statistics on e-commerce in the Kingdom. It highlights the sector's growth, with the financing of e-commerce projects in the Kingdom reaching SAR 1.6 billion in 2023 and the expected number of e-commerce platform users reaching 34.5 million by 2025. The report also notes a growth rate of 42% in the number of e-commerce platform users between 2019 and 2024. The report explores the impact of e-commerce on small and medium enterprises, emphasizing the opportunities for growth and expansion, including overcoming barriers to entry and reaching a broader customer base. Additionally, it addresses challenges such as competition, l imited resources, and inventory management that may affect the growth of small and medium enterprises in e-commerce. Furthermore, the report includes insights from experts in the field, featuring an interview with e-commerce adviser at the E-Commerce Council, Muhannad Al-Mulhim, discussing the current state of the e-commerce sector and the support provided to small and medium enterprises by the E-Commerce Council. The report also highlights trends and innovations shaping the future of the e-commerce sector. Success stories of entrepreneurs in the e-commerce sector, including Chairman and CEO of Floward, Abdulaziz Al-Loughani, and the founding president and CEO of Torood, are shared in the report. The report serves as a reliable reference for entrepreneurs, investors, and interested parties. It is part of a series of specialized reports issued periodically by Monsha'at on topics of interest to entrepreneurs in the Kingdom. Additionally, Monsha'at launched an awareness campaign on e-commerce titled "The M arket is Your Game" to encourage entrepreneurs, particularly women, to enter e-commerce and familiarize them with the services provided by Monsha'at and other entities supporting investors in the e-commerce sector. Source: Saudi Press Agency