Humble factories, small trading companies and workshops are vital cogs in most economies, and particularly developing countries. Yet in the Gulf they have often been overshadowed by sprawling state and family-owned conglomerates.
Rather than small and medium-sized enterprises, many Gulf governments have often focused their ample financial resources on supporting state-owned “national champions” to diversify their economies.
The emphasis may be about to change, as governments realise that a more vibrant SME community could be instrumental in weaning locals away from state jobs, diversifying economic output and creating work for young populations – strategic aims for all the Gulf countries.
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