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456 SMEs get BD2m Grants for Development in Bahrain

The Labour Fund's Enterprise Development Support Programme, aimed at elevating the Kingdom's Small and Medium Enterprises (SMEs) in the areas of technology, training, human resources, productivity and management, delivered grants to the tune of BD2 million to as many as 456 SMEs until the first week of this month.

The SMEs belonged to the services, industry and construction sectors and benefited from the business information, business development and technical assistance modules of the programme, according to Talal Abu Ghazaleh and Company International, the Enterprise Development Support Programme Agency to whom the project has been outsourced by Labour Fund.

The company said latest statistics showed that the programme was 'exceeding its target' in attracting beneficiary SMEs. About 1,200 SMEs are expected to reap the benefits of the project over a four-year period.
The Enterprise Development Support Programme is a co-finance programme wherein the Labour Fund part finances the SMEs' requirements.

The programme gives small and medium businesses unprecedented access to new business methodologies, modernisation and ways to improve specific areas of the business to increase productivity through training, equipment upgrades, consultancy studies and implementation. The company was appointed Enterprise Development Support Agency to the LF and it handles the day-to-day operations of the programme, starting from receiving the applications to processing payment and follow up.

"Our mission is to offer Bahrain Labour Fund a complete range of high-quality professional services and to provide as a strategic partner for the Labour Fund the highest international quality standards so we may contribute to the economic, social and cultural development for the Bahrainis in the context of the Enterprise Development Support Programme," the company said.
Labour Fund officials say that productivity improvement of SMEs is a key indicator of the project's success.(via Bahrain Tribune)

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