Measuring The Performance Of Business Incubators In Saudi Arabia VS International Incubator

Measuring the Performance of Business Incubators in Saudi Arabia VS International Incubator - Case study “General Authority for Small and Medium Enterprises SMEs Named Monsha’at” 

This paper discusses and focuses on the case study of Monshaat in Saudi Arabia. This report deals with the measurement of business incubators in small and medium enterprises in Saudi Arabia. The root causes of the problems in the small and medium enterprises have been discussed in the report. The type of case study has been of research case study type. The central theme and major objective of this paper case study have been focused on two specific problems in Monshaat which is financing and bureaucracy of ease of doing business were discussed in the report. The current situation of a market of Saudi Arabia related to the increase in financial capital has been discussed in the report. This report has been focused on measuring performance indicators of small and medium based companies in Saudi Arabia. A research case study of General Authority for Small and Medium Enterprises SMEs named Monshaat has been used as a case study for the report. The corporate governance failure of the association has been reflected in the report.  The association has been facing problems in the implementation of the corporate governance strategy in the small and medium based companies in Saudi Arabia.

 The concept of business incubators for the development of small and medium based enterprises has been discussed in the report. Business incubators have been a lace that helps businesses to enrich their operations in the market. Monshaat has been one of the government body that regulates and has been helping small and medium-sized enterprises to flourish in the market.  The human capital management deals with the concept of human capital by analyzing, obtaining and reporting data as value added people management with strategic and operational values. HCM is the use of metrics for guiding an approach for managing people regarding them as assets and emphasizes with their competitive advantages in the market (Hernández, 2016). Human capital includes skills, knowledge and abilities employed in the organization. Human capital represents a human factor in the association that is combined with efficient skills and knowledge. These elements are capable of changing, learning, innovating creative imagination in the organization. The use of the human capital has been beneficial for an organization in their development. Human capital in an organization refers to an employee of the association (Mansano, 2016).

Success Story of Monshaat

Monshaat which is a government general authority bodywork under the umbrella of Ministry of commerce and investment , work as regulator for incubator and accelerator to issue them licenses and to be a mediator between new small and medium business and investors and banker that they have partnership with, give consultation to new business and direct them what to do and what do they need to do, the general authority conduct many training session in different cities around the kingdom and it been published on their website. Monshaat has been serving more than 99% of the companies. 2000 SMEs have been trained in 11 cities by Monshaat. It has helped in allowing the fastest growing sector in Saudi Arabia (Albort-Morant G. a., 2016). Over 1 billion jobs have been created by Monshaat. 0.4 Million jobs have been provided to women only in Saudi Arabia. South Korea has possessed the capacity to make one of the biggest credit ensure finance for supporting SMEs. The present portfolio has been recorded as 165 bn. Indonesia has possessed the capacity to present proficiency for fundamental abilities and Entrepreneurship program and has been positioned one among G20 nations for business visionary training. Singapore has spent SAR 15 billion on development and R&D in five years and giving duty exception to recently shaped new companies with incomes under SAR 375k. Malaysia has record 16 % expansion in SMEs business and 26% expansion in absolute factor efficiency (Berbegal-Mirabent, 2015). UAE has 30% expansion in SMEs GDP somewhere in the range of 2011 and 2016. 86% of the aggregate workforce has been utilized in SMEs in 2016. 12,500 entrepreneurs have been supported for creating 1200 local businesses. 1100 entrepreneurs and SME owners have been trained (Brun, 2018).

There have been several numbers of small and medium-sized companies in Saudi Arabia that are under Monshaat. Monshaat has been acting as a helper for small and medium-sized companies in the country. Monshaat has been sharing 52% in micro level companies, 42% in small level companies, 5% in medium level companies and less than 1% to large companies in the market (Castro, 2014).  Therefore, Monshaat has been focusing on micro and small level companies in the market.  The use of the business incubators has been helping in maintaining a keen approach to the maintenance of business organization in Saudi Arabia. Monshaat has been helping in building its organizationover one to two year of a time period.

Small and medium-sized enterprises and entrepreneurship Monshaat are witnessing an awareness-raising movement. through seminars and workshops in various cities of the Kingdom.
The annual survey of the General Organization for Statistics for the year 2017 showed that the number of establishments in the Kingdom of Saudi Arabia reached 977,535 establishments. These establishments are classified according to the classification of activities in the General Organization for Statistics in 18 activities with a greater concentration and number of wholesale and retail establishments, representing 47.3% Followed by the manufacturing sector with 11% of the total number of establishments in the Kingdom, followed by accommodation and food services by 10.7% of the number of establishments in the Kingdom, followed by the agriculture and fishing sector, which represents 9.6% of the establishments in the Kingdom. 7.12% of the population of the country. In summary, these five activities account for 85.7% number of establishments and activities are concentrated in Saudi Arabia.
Enterprise support programs aim to raise the share of GDP and also create new jobs in the economy. To achieve these objectives requires the creation of viable entities first and then the ability to expand to achieve the objectives. The current division of enterprises in the Kingdom shows a great challenge in making these entities capable of generating jobs. According to the Statistics Division, 87.2% of the establishments in the Kingdom are in a sector employing between one to five employees and only 0.8% of the establishments in the Kingdom in a segment of 50 to 250 employees. 

The number of citizens looking for work is 1,118,801 citizens and the number of citizens working in Saudi establishments is 1,144,844 citizens representing employees in establishments employing a segment between 1-5 employees 41.88% of the number of employees of citizens and employs establishments with a staff between 6 - 49 37.2% of the total number of Saudi employees. The segment of establishments employing 50-250 employees represents 21% of the population. The Saudi workforce represents 25.5% of the total workforce in Saudi Arabia, with a total workforce of 4.482.504. 

For the first look and figures, it is concluded that job replacement and resettlement is possible due to the gap between the percentage of non-Saudis and citizens who reach 74.5% of the labour force. However, the difficulty and challenge lie in adapting these jobs within this gap to the national hands in terms of work environment and income in general.

The vision of Monshaat has been focused on making the SME sector as an important engine for financial growth in Saudi Arabia by achieving vision 2030. The mission of the company has been supporting and developing SMEs for enabling them in order to prosper by leading cooperation's with strategic partners in the private, public and non-profit sectors both internationally and locally. The private sector of Saudi Arabia has been facing problems at the managerial and administrative level (Dai, 2017). The growth in Saudi Arabia has been based on the oil industries. SMEs has been playing an important role in driving economic development in the company (Brun, 2018). However, the growth of the SMEs has been facing a lot of obstacles in the market. It has been an innovative methodology for creating new business and entrepreneur skills. There has been a requirement for changes in the economy for a decrease in the number of jobs in the country.

The politics around Monshaat could be considered a bit complicated owing to the many stakeholders influencing and impacting the way decisions are made within the organization.  To begin with, the centre committee bears the power when it comes to making the final decision in the tendering process. But, most importantly, Saudi Arabia's government issued a directive that was aimed at seeing to it that the number of Saudi nationals within organizations has been increased through the Saudization process by increased ratios in hiring processes (Mulrow, 2017). In addition to this, the fact that there were stringent laws implemented that demands that thorough background checks on employees being hired within the kingdom to have led to immense delays when it comes to hiring of new human capital. Saudi Arabia's Ministry of labour bear immense influence within the region and is able to issue different directives to the various main government body (Perdomo, 2014). This consequently affects the manner operational decisions are made within Monshaat.

The current performance of Monshaat has been depended on several factors including training talented staffs for performing high standard services, lack of technology, lack of control over many initiatives and lack in the compensation system. Some government regulations of course impact on how we do business here. Our regulations and policies that mostly require the employer to be responsible also put a barrier to the growth of the organization. Monshaat has been implementing its strategic plans and launching diversity in programs for translating Vision 2030 in SME sector (Dai, 2017). Innovation process has been developing in the company for benefit of the entrepreneurs in the market.Monshaat has been responsible for the development of small and medium businesses. IT has been helping in promoting entrepreneurship and innovation with a diversification of sources for the financial report. Various administrative support has been provided to small and medium companies. In conclusion, Monshaat operates on a lean structure that at times entails a single individual when it comes to making certain decisions. Monshaat is significantly affected by global instability such as oil price, wars, and economic situation. Dropping of the oil price affects the merit increase, employees' benefits and compensation which creates an environment characterized by low morale and unmotivated employees. In addition, the wars and economic condition of the kingdom result in a mandatory cut in the budgets and manpower. Additionally, the intended IPO will have a great effect on the central budget tremendously, cutting all unnecessary expenses and giving direction to Monshaat to utilize the allocated budget.

 Access to financing and financial distress across all stages and ease of doing business with bureaucracy in regulation in SMEs has been a common problem all over the world and in the kingdom. SMEs have been contributing to the economy of the country. However, these SMEs have been suffering from financial access in the market. SMEs have found vulnerable to macroeconomic and internal management crisis (Berbegal-Mirabent, 2015). There have been various causes of distress in SMEs including insufficient accounting practices, unrealistic budgeting and pricing, improper cash flow and improper debt management. Businesses have been the failure in the market as they have been unable to manage their financial record in their database. Accounting practices in SMEs have been poor as there has been lack of financial experts in these SMEs. SMEs do not have a high budget for their investment in their fields. Small businesses have been lacking in maintaining and investing their capital in proper areas (Castro, 2014).  The investment of funds by small businesses has been gone wrong many times causing failure in their start-ups. The allocation of budgets has been poorly done due to lack of capital market in SMEs. Interaction with several entrepreneurial cultures and attitudes has been moved on a high scale (Dai, 2017). Therefore, researching to that level has been always a tough situation for SMEs. The entrepreneurial standardization in the SMEs has been maintained by the government of Saudi Arabia. Therefore, allocation of budget to the companies has been a big problem in the market.

There have been various internal factors that are responsible for the financial access and distress in the SMEs. The management of small businesses and regulation has been poor that creates irregular decision-making system in the companies. The management level of the companies has been responsible for the wrong decision in the market related to the investment of fund (Caetano, 2019). The risks and failures of the company have not been maintained properly due to the lack of managerial expertise.  The strengths and weakness of the company have been identified in order to analyze risks in the companies. However, the practising strategies have not been maintained in a proper manner.  Therefore, there has been a big gap in the managerial level and the employee level in the companies. Various leadership skills have been poor in the SMEs that have been leading to failure of a business. One of the major reasons of the failure in the business has been the low number of employees in the companies. Due to the low number of employees, SMEs are not able to maintain their customer engagement properly. The distribution of employees in different departments has not been possible for the small companies that have been leading to insufficient efficiencies of employees. The customer relationship management of the companies has not been well enough to mitigate all issues of customers in the market. Involvement of top level of management has been necessary for maintaining a keen approach to the development of the company (Mubarak AL-Mubaraki, 2014). Internal stakeholders are not responsible for their duties and escalating all the possible reasons in the company (James, 2017).  Therefore, the decision-making system has been poor. SMEs have not been able to get opportunities to build up their businesses in the market. Recruitment of new employees has not been possible in the SMEs due to the low budget in their account (James, 2017). They are able to hire more employees as their overall profit less than that of big companies. Salary offered by the companies has been low. Due to which several employees are not ready to invest their time in the company and resigning from their post due to low salary. Therefore, human resource management has not been good.These are some of the internal factors that have been creating financial distresses in the SMEs.

According to many researchers, along with internal factors, there are several external causes for financial distress in the SMEs. One of the major external causes is the political and social factor. The political factor plays an important role in creating distress. The government might not be in favour of the startups in their locality. However, the legal orders of starting a new business might not be approved by the local government (Mansano, 2016).  Therefore, this creates a failure of a business idea in the market and failure of ease of doing business. The social factors have been related to the acceptability of customers in society. The product and services provided by the small businesses need to be accepted by the customers in the market. Therefore, employee management has been an important part of human capital management. Every employee has some set of skills and experience in them. Therefore, these skills and experiences need to be managed in a proper manner (Ellis, 2015). Knowledge and expertise in a particular domain need to be managed for increasing productivity and efficiency in the working environment.

The human capital involves acquired skills, experience, knowledge and their values of effectiveness in association (Ellis, 2015). Therefore, the use of skills and experience in the employees has been helping in maintaining a working culture of the company.  Human capital management has put emphasis on the knowledge of an employee in the organization that has been helping in enriching their skills and experiences. Many training sessions have been organized in order to enhance their skills and knowledge. Therefore, human capital management is an approach for employee staffing helping in perceiving people as an asset in an organization (Engelman, 2015). An organization realizes that human capital management has been helping its employees in defining clear goals and objectives. Managers have been responsible for evaluating and supporting their continuous improvement. Acceptability factor in the customers has been playing a big role in the development of Monshaat in the market.

In summary, two major challenges are access to financing and ease of doing business due to bureaucracy and regulation. Business finds it hard to register to operate and grow as there is no central repository for regulations and processes, inefficient and slow judicial system, regulations change frequently without being clearly communicated. A limited number of SMEs are owned by foreign entrepreneurs compared to neighbouring countries due to lack of entrepreneurship visas for foreign nationals and the limitation of finding Saudi partner to start a business. Business finds it hard to register for a license and get approvals for permits. From the finical aspect only 2% of commercial bank loan books are exposed to SMEs. Lending to SMEs is not attractive as lending to government entities while both lenders and borrowers lack capabilities to engage with one another. Bankruptcy low yet to pass overall regulatory environment seen as risky by investors while new regulations take a long time to work through the system.

Small and medium enterprises have been the major source of revenue creation in the Gulf countries.  SMEs have been contributing around 33% in the GDP and 25% in the labour force in the kingdom. This has been a huge percentage for Saudi Arabia. Most the small and medium enterprises have been related to oil and gas sectors. There have been various catalysts for the development of the economy in the country.  The major source of the economy has been the oil and gas sectors. Therefore, there have been various policies included in the development of SMEs in the country. Monshaat has been properly following these policies for the development of SMEs. According to a survey of Council of Saudi Chamber of Commerce and Industry (CSCCI) in Riyadh, along with bureaucracy major issues in SMEs have been related to marketing and financial development in the market. In addition to this, major issues and SMEs have been globalization and financial distress in the market (Mubarak AL-Mubaraki, 2014). Due to a small size in a number of employees, SMEs have been facing a lot of problems in the development of their businesses. The government of Saudi Arabia has been focusing on the development the SMEs in the country. However, this has been a slow process as many of the SMEs have not been benefitted with the policies and legal rights provided by the government. In this case, Monshaat has been acting as a helping hand for the SMEs in the country. Monshaat has been able to provide all the enumeration of the policies provided by the government of Saudi Arabia. Plans have been executed for providing financial help to small and medium enterprises in the country (Mian S. L., 2016). Various investors and insurance companies have been developed for providing financial help to the SMEs.

Strategic Management has been in the policies that can help SMEs for understanding the current situation of the market by assessing strengths and weaknesses (Mulrow, 2017). Strategic management helps in making a clear response to set mission vision, goals and objectives of the company. Strategic planning has been helping in maintaining a keen approach to the development of the SMEs in the market. It helps in providing close monitoring services for the growth of small and medium enterprises. Different SMEs can indulge themselves in strategic planning for innovation and introducing new services and products in the market.

This might also help in reaching to higher goals and objectives of the SMEs. Higher level includes, high sales, growth and great return in investments. However, in spite of these advantages, many SMEs do not engage in the strategic planning of their resources. SMEs do not have a high budget for their investment in their fields. Small businesses have been lacking in maintaining and investing their capital in proper areas (Castro, 2014).  The investment of funds by small businesses has been gone wrong many times causing failure in their start-ups. The allocation of budgets has been poorly done due to lack of capital market in SMEs. Interaction with several entrepreneurial cultures and attitudes has been moved on a high scale (Dai, 2017). The most important learning background in this venture was acting the information of joining the diverse centre courses into one anticipates. Likewise, the information on how to execute the intellectual learnings and ideas into a genuine pragmatic case and containing genuine vulnerabilities and dangers from the sheltered condition present while setting up a task was a noteworthy concern. Monshaat has been working under the Ministry of Commerce and working as a regulator for incubator and acceleratorby issuing them licenses for creating mediator between new small and medium businesses and investors (Tao, 2015). Therefore, researching to that level has been always a tough situation for SMEs. The entrepreneurial standardization in the SMEs has been maintained by the government of the country.  Therefore, allocation of budget to the companies has been a big problem in the market. Many cases have been identified where strategic planning has not been initiated in the SMEs. They focus on survival issues and short-term goals of the organization (Mulrow, 2017). The reasons for not choosing strategic planning in the SMEs have been revolving around a lack of knowledge, expertise and time. Less number of expertise has been one of the reasons for implementing strategic management in SMEs. Motivation has been an important factor in the development of SMEs.  

Monshaat have been supporting policies by focusing on providing the general regulatory, infrastructural and bureaucratic environment that has been benefiting all small players on the market. These policies have been helping in maintaining the keen approach to utilizing various resources of the association. Monshaat has been helping in preparing policies for the development of the SMEs in the market. However, due to limited financial and human resources of SMEs, training and motivations have been declining in the SMEs. The workforce in SMEs has been low due to financial problem. Bureaucratic streamlining and e-government have been reforming the concept of lip services in the development of SMEs. The reduction in administrative fees has been providing a strong impact on the development of SMEs (Perdomo, 2014). It helps in allowing the engagement of different complex and diversified businesses. The regulatory capacities of national bureaucracy have been increased for allowing foreign entry in the market of Saudi Arabia.  These policies have been intervening foreign business policies in SMEs market. Government SME programs have been arguably focusing on the development of SMEs in the market. Partial subsidy rates have been revised by the government of Saudi Arabia. According to the policy, the mutual loan has been guarantee schemes have been granted through Chambers of Commerce and SME associations. This scheme describes reducing borrowing costs for SMEs. Governments should consider supporting the development of special SME units at banks (Dai, 2017). Once private financial institutions have created special mechanisms and procedures for SME lending and due diligence, the administrative cost of lending will fall. Chambers of Commerce could also work to support private equity and venture capital with a focus on smaller projects, mobilizing larger numbers of businessmen to contribute, either collectively or as the individual.

Management of Monshaat has been playing an important role in the development of the SME sector. There have been various roles of top management in the company. The top management includes the chief executive officer, president, vice president and other top officers of the company. Top management has been responsible for the performance of an entire organization including middle and lower management (James, 2017). Top managers are liable to handle and manage all the resources of the company. The top-level manager has been dependent on the work of all resources in the Monshaat. The structure of the organization has been focusing on the goals and objectives of the organizations. The functional management of the company has been maintained by the top managers (Mian, 2016). The decision-making system of an organization has been depended on top managers and management system of the company. The management process has been horizontally functionalized in order to maintain all functions in the company. Technology has been an important factor in the development of the company in the market. Monshaat has been using modern technology. The use of technology has been helping in providing several opportunities to start-up companies (Marimuthu, 2015). They are helpful in providing various online materials using technology that might help in starting a business. Online session related to training has been provided by Monshaat.

The company has been expanding over Saudi Arabia. The organization has its branches in different parts of the country. This has been helping in increasing the value of the association by helping individuals in the market. The management of the company has been helping in providing several services to individuals having start-ups (Mian, 2016). These small and medium companies have been connected with Monshaat that have been helping in maintaining the proper relationship with the customers. Opportunities provided by Monshaat have been beneficial for the development of society. The population and demographics have been properly settled in Saudi Arabia. The image of Monshaat has been enhancing positivity among society. Various CSR activities have been initiated by the company in the society. These CSR strategies and activities have been helping in the development of society and the community.

Monshaat has been concentrating on Vision 2030 for creating SME part in the nation. Different enlisted little and medium organizations have been given administrations to their improvement in the market. The utilization of current bearing in the advancement of Saudi Arabia has been unique in the market. The examination of the information and data gathered shape talk with sessions has been helping in keeping up a sharp way to deal with the improvement of Saudi Arabia. SME segment in Saudi Arabia has been 6.5 million employees in the nation out of 0.5 trillion occupations everywhere throughout the world. The SME area has been developing at a quicker rate in the market (Caetano, 2019). The Saudi Jobs have been helping in making different open doors for SME part in the nation. In any case, every single other nation in the world has been demonstrating extraordinary interests in the SME area.

 Monshaat has been implementing its strategic plans and launching diversity in programs for translating Vision 2030 in SME sector. Innovation process has been developing for beneficial of the entrepreneurs in the local market. Monshaat has been responsible for the development of small and medium businesses for both incubator and accelerator. IT has been helping in promoting entrepreneurship and innovation with the diversification of sources for the financial report. Various administrative support has been provided to small and medium companies. The short goals and objectives of Monshaat have been focusing on the satisfaction of customer and retention (Perdomo, 2014). Vision 2030 has been showing great interest in the SME sector as one of the most prominent sectors for economic growth of the government body.

Saudi Arabia has been facing a decline in the gross GDP of the country in recent years.  The reason behind this decline has been irregular management practices at small and medium businesses. The oil industry in the country has faced a major decline in the market due to fluctuation and improper demand and supply of oil in the country. Incubators have been playing an important role in minimizing these issues in Saudi Arabia by providing opportunities to small companies. Incubators have been helpful in analyzing the market for small businesses (Albort-Morant, 2016). The problems faced by SMEs have been causing delaying the development of the corporate market in the country. Business incubation programs have been a popular approach to various communities helping in assisting new business start-ups. The objectives of the incubators have been evaluating their success in the market.

The private sector of Saudi Arabia has been facing problems at managerial and administrative level plus the access to financing entities. The growth in Saudi Arabia has been based on the oil industries. SMEs have been playing an important role in driving economic development in the company (Brun, 2018). However, the growth of the SMEs has been facing a lot of obstacles in the market. It has been an innovative methodology for creating new business and entrepreneur skills. There has been a requirement of changes in the economy for the decrease in a number of jobs in the country.

All factors contributing to the ongoing deficiency within Monshaat were identified, Major factors include;Access to financing and financial distress across all stages and ease of doing business with bureaucracy in regulation in SMEs have been a common problem all over the world and in the kingdom which slows decisions and enforces many restrictions that significantly weakens the organization's ability to change or move forward.  This could not have been done without the use of a clear methodology which leads to capturing the data needed lead to achieving the identified objectives. The key concept I learned from this project was how to interact with the external business environment and translate the theoretical knowledge into a practical guide for dealing with SMEs, especially, with the main drives of change who are the employees.

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