Saudi Arabia’s ‘former extremists’ to get business support
The agreement aims to enable beneficiaries of the program to be aware of ways on how to establish their small business
The National Entrepreneurship Institute (Riyadah) has signed an agreement with the Muhammad Bin Naif Counseling and Care Center (MNCC) in Saudi Arabia that aims to provide support for former extremists to start up their own businesses and encourage them to continue rejecting their old ways.
The agreement aims to enable beneficiaries of the program to be aware of ways on how to establish their small business by utilizing the kingdom’s support for startups.
Riyadah, which was established as the result of a joint Technical and Vocational Training Corporation (TVTC) and Ministry of Petroleum and Minerals initiative, focuses on enabling Saudis to start their small businesses, raising entrepreneurship cultural awareness, and providing needed support for current small businesses to flourish and overcome market obstacles.
Six Saudi corporations consisting of SABIC, Saudi Aramco, STC, Alinma Bank, Saudi Credit and Savings Bank and TVTC started this organization.
In the last few months, Riyadah has been working with numerous beneficiaries in the past year that led to a few businesses starting up.
Dr. Sherif Elabdelwahab, CEO, indicated that the most notable characteristics that the beneficiaries have demonstrated are their strong discipline, tolerance for new business challenges and a motivation to start their own ventures.
With this agreement, Riyadah and MNCC will work together in providing a world-class service to rehabilitated beneficiaries to start their small businesses and not revert to extremism.
2015 will witness lectures, workshops, and an open door policy that covers any beneficiary of all of Riyadah’s services.
The head of MNCC, Maj. Gen. Nasir Bin Muhaya Almutairy, said it was a great opportunity to provide what current avenues the country offers its citizens in starting their businesses.
This story was originally posted on the Saudi Gazette on Wednesday Dec. 3, 2014.
Saudi Arabia says oil policy ‘purely economic’Brent crude oil fell on Monday to a five-year low below $68 Energy
Mars set to open its first chocolate factory in Saudi ArabiaThe new factory will produce a range of Galaxy chocolates Retail
Combating racism and sectarianism in Saudi ArabiaThe Shoura Council has called for the establishment of an anti-racism committee Middle East
New law fails to curb domestic violence in Saudi ArabiaThere were 1,049 cases of domestic violence and child abuse last year in Saudi Arabia despite new family protection laws Middle East
Saudi Islamic capital market gaining momentumIFN Saudi Arabia Forum is expected to be the most promising international congregation to share knowledge among industry experts and leaders Financial Markets
Social music app Tunepics sounds out Arab investorsFast-growing social network that pairs users’ pictures with music is in talks with investors from Saudi Arabia and the UAE Technology
In Abu Dhabi, a new start-up ‘accelerator’ promises more success storiesFlat6Labs announces expansion at ADMS 14 and its mandate is to support entrepreneurs with ideas but are not sure how to actualize them Technology