Small and medium-sized enterprises represent the vast majority of companies globally, accounting for more than 95% of all businesses and significant shares of the gross domestic product in many countries

They are crucial to national economies, being an essential driver of job creation, economic productivity and social inclusion. However, they also face multiple challenges in terms of digital transformation, access to finance, regulation and informality, skills shortages and globalization. Addressing these issues requires an enabling framework designed by policy-makers and business representatives alike.

Given the cross-topical nature and relevance of SMEs, they have been identified as a cross-cutting theme for B20 Saudi Arabia and will, to the relevant extent, be addressed by all taskforces.