JEDDAH — Prince Khaled Al-Faisal, Emir of Makkah region, inaugurated the fifth annual Jeddah Young Business Expo Sunday, October 1 at the Jeddah Center for Forums & Exhibitions. The exhibition will be open for the general public from today until October 4 in the morning and evening. It has been organized by the Jeddah Chamber of Commerce. Around 300 entrepreneurs, both men and women have participated to showcase their innovative products, services, and small businesses to an expected attendance of more than 20,000 visitors. This is the largest event in the Kingdom that serves as a platform for young entrepreneurs to introduce themselves and their businesses to society, established businessmen, and prospective investors.
Among the goals of this year's Jeddah Young Business Expo is to offer guidance, directions, expert advice, and financial support to help small businesses grow and produce successful businessmen and women. The event also opens the door for these entrepreneurs to market their products and enter the free market. A bond is formed between well known investors and young entrepreneurs, and due to the presence of prominent governmental authorities many obstacles obstructing the growth of these businesses can be overcome. Attracting journalists and media professionals to this large and buzzing event also guarantees publicity for the talented and creative entrepreneurs, leading to widespread acceptance of their ideas by the society.
The financial aid that will be distributed to some of the best small businesses over the course of the next three days will reach a total of SR23 million. Major companies and businessmen will invest and sponsor business projects up to SR10 million. Another SR10 million will be allocated for the creation of employment opportunities by Bab Rizq Jameel in the form of interest-free loans to eligible entrepreneurs. The National Commercial Bank has also announced that it will give loans up to SR3 million without interest. The secretary general of the Chamber of Commerce, Adnan Mandourah, told the press on Sunday, “The exhibition aims to educate and encourage entrepreneurs to successfully venture their products into the markets. I commend the efforts of the investors and government officials who are willing to meet with these young entrepreneurs who are starting their own small businesses, so that they can effectively emerge in the market and in the society at large.” — SG
