المشاريع التي تدعمها ريادة الأعمال الوطنيّة وشروط دعم المشاريع

What projects does Riyada support? Perhaps it is one of the questions that everyone who wants to open a new emerging facility and a small project asks, as Riyada is one of the programs supporting these projects, and Riyada is a national non-profit center specialized in assisting those wishing to engage in self-employment and owners of small and emerging projects of both sexes. And that is through training and qualification, providing advice and guidance, incubating projects, helping to obtain financing and facilitating government procedures by a selection of national specialists in the field of entrepreneurship and by adopting the latest methods and techniques, but what projects are supported by Riyada? This is what we will learn about in this article.

About National Entrepreneurship

Riyada is defined as an independent, non-profit national institutional organization that was established at the initiative of the Ministry of Energy and the Technical and Vocational Training Corporation under the name of the National Entrepreneurship Institute, and was co-founded by the Basic Industries Corporation (SABIC), Saudi Aramco, the Saudi Telecom Company, Alinma Bank, and the Social Development Bank And the Technical and Vocational Training Corporation, out of its keenness to provide services to spread the culture of self-employment, training, consultations, and guidance, and to facilitate obtaining financing, and to facilitate obtaining licenses. It is worth saying here that the National Entrepreneurship Institute always strives to achieve the following goals:[1]

  • Spreading the culture of self-employment among members of society and building a positive behavior towards its practice.
  • Developing a national program for entrepreneurship and developing small and emerging projects.
  • Qualifying human cadres specialized in the field of entrepreneurship and developing small and emerging projects.
  • Enable entrepreneurs and specialists to keep pace with developments in the field of entrepreneurship and self-employment.
  • Creating job opportunities for young men and women through their own projects.

See also: Top 10 successful small businesses for women and important tips for small business success

Projects Supported by Riyada

There are a number of projects supported by Riyada, as follows:

  • Electronics, electrical and plumbing stores project.
  • Student Services Project
  • The project of ready-made clothes and children’s clothing stores.
  • Food sales project.
  • Photography studio project.
  • Party Supply Project
  • coffee shop project.
  • Perfume shops project.
  • computer software project
  • Gymnasium project.
  • Auto parts stores project.
  • Construction and building materials stores project.
  • Project of ready-made home and office furniture stores.
  • Barbershop project.
  • Watches project.
  • Medical devices and equipment stores project.
  • Personal care stores project.
  • Handmade carpet operator project.
  • carpentry project.
  • Refrigeration, air conditioning and blacksmithing works project

Projects not supported by Riyada

There are a number of projects that are not supported by Riyada, as follows:

Unsupported projects Reasons for not supporting them Import and export of general and unspecified activity Businesses Exaggerated dependence of the project on expatriate workers Investment and real estate development Project need for capital greater than the maximum loan limit Trucks and heavy equipment There is a special transportation path at the Social Development Bank Schools The project needs to Capital greater than the upper limit of the loan Hospitals and clinics The project’s need for capital greater than the upper limit of the loan Agricultural production The Agricultural Fund has a special program for lending Any activity that does not have a license The absence of a license to rent breaks The project’s need for capital is greater than the upper limit of the loan Car rental Not acceptable from the financing party Renting a wedding hall The project’s need for capital greater than the upper limit of the loan Livestock trade A mobile activity that has no headquarters and is difficult to follow Insurance services The project’s need for capital is greater than the upper limit of the loan Kindergarten – Nursery – Preliminary The Social Development Bank has a program Private lending a taxi The Social Development Bank has a special program for lending Furnished apartments The project’s need for capital is greater than the maximum loan limit Institution A General jar The project’s need for capital greater than the upper limit of the loan Car showroom The project’s need for capital greater than the upper limit of the loan A car wash is not acceptable from the financing authority General contracting The project’s reliance on expatriate workers is exaggerated The installment office The project’s need for capital is greater than Maximum loan limit for school transfer The Social Development Bank has a special loan program

One of the successful and supported Reyada projects

There are a number of projects that have been supported by Riyada and have met with unparalleled success, as follows:

  • Handmade carpet manufacturing project
  • Wooden toys project.
  • Perfume sales.
  • fitness training club project
  • Wood carpentry project.
  • Laundry project.
  • A sportswear project for veiled women.

See also: Vision 2030 goals in the field of entrepreneurship

Riyadah Conditions to Support Projects

There are a set of conditions that must be met in order to support your projects in the Riyada programs. The Erada Institute for National Works offers the Erada program, the Emiratisation program, and the mobile vending cart program. The various projects are supported in these programs if the conditions necessary to support them are met. These conditions are as follows:

Technical Conditions for Supporting National Entrepreneurship Projects

The technical conditions for supporting projects by national entrepreneurship are determined by the following:

  • The project should be among the projects supported by the Entrepreneurship Program.
  • The value of the financing should not exceed three hundred thousand 300,000 Saudi riyals for the various programs except for the mobile vending cart program.
  • The project owner should have adequate experience for professional activities.
  • That the project be economically feasible to be accepted by the Entrepreneurship Foundation in Saudi Arabia.

Conditions of the Eradah Program to Support Projects

The conditions of the Irada program to support projects are determined by the following:

  • The applicant must have at least three months of experience in the same activity to be financed or a certificate of specialization in the same field for professional projects.
  • Not to combine two financing applications from the bank’s financing programmes.
  • To devote himself to running his project.
  • That the applicant’s financial and credit status allow obtaining financing.
  • The applicant for funding for medical and educational projects should not be one against whom a court ruling has been issued that violates honesty and honor, unless he has been rehabilitated.
  • The applicant must be a Saudi national, and the qualification must not be less than high school.
  • He must have the appropriate experience or qualification to work on and manage the project. For medical projects, priority is given to those who hold a qualification in the medical field.
  • The applicant’s age shall not be less than twenty-one 21 years and not more than fifty-five 55 years.
  • The financing ceiling does not exceed three hundred thousand 300,000 Saudi riyals.
  • Employees in the public and private sectors or the military sector have the right to apply for financing, provided that the applicant devote himself to managing and working on his project after approval of the financing, and this is one of the justifications for signing the financing contract.
  • Pay the National Entrepreneurship Institute’s earnestness fees after passing the personal interview and before the training course.
  • Providing guarantees of 100% of the loan amount, and the bank’s premium should not exceed 33% of the employee’s sponsor’s net salary, taking into account any obligations outside the bank.
  • Fill out the application forms for each program, and complete other requirements related to completing the evaluation process followed in the bank.
  • The total investment cost of the project shall not exceed five hundred thousand 500,000 Saudi riyals.

Terms of the Emiratisation Program to Support Projects

The conditions necessary to support projects in the Emiratisation program are the following:

  • The applicant must be a Saudi national with no less than a high school qualification.
  • The age of the applicant should not be less than twenty-one 21 years and not more than fifty-five 55 years old.
  • To devote himself to running his project.
  • That the applicant’s financial and credit status allow obtaining financing.
  • The applicant for funding for medical and educational projects should not be one against whom a court ruling has been issued that violates honesty and honor, unless he has been rehabilitated.
  • That the funding applicant has the appropriate experience or qualification to work on the project and its management, and for medical projects, priority is given to those who hold a qualification in the medical field.
  • Fill out the application forms for each program, and complete other requirements related to completing the evaluation process followed in the bank.
  • A guarantee in kind or a guarantor of no less than 50% of the value of the financing requested by the bank should be submitted.
  • Its total investment cost shall not exceed five hundred thousand 500,000 Saudi riyals.
  • The financing ceiling does not exceed three hundred thousand 300,000 Saudi riyals.
  • The applicant must have at least 3 months of experience in the same activity to be financed or a certificate of specialization in the same field for professional projects.
  • Not to combine two financing applications from the bank’s financing programmes.
  • Employees in the public and private sectors or the military sector have the right to apply for financing, provided that the applicant devote himself to managing and working on his project after approval of the financing, and this is one of the justifications for signing the financing contract.

Mobile Vending Program Terms

The conditions for mobile vending carts are determined by each of the following:

  • Employees in the public and private sectors or the military sector have the right to apply for financing, provided that the applicant devote himself to managing and working on his project after approval of the financing, and this is one of the justifications for signing the financing contract.
  • Pay the National Entrepreneurship Institute fees after passing the personal interview and before the training course
  • Providing guarantees that meet 100% of the loan amount.
  • The applicant must be a Saudi national.
  • To devote himself to running the project.
  • That the financial and credit situation of the applicant to obtain financing.
  • The amount of financing required for the project shall not exceed two hundred and fifty thousand 250,000 riyals, and the investment cost shall not exceed five hundred thousand 500,000 Saudi riyals.
  • To work by himself in project management.
  • The applicant should be able to obtain the regular licenses determined by the competent authorities.
  • The qualification should not be less than high school.
  • The age of the applicant is not less than twenty-one 21 years and not more than fifty-five 55 years old.
  • Experience in service and commercial activities is not required. The assessment is done by personal interview, and the ability to write and read is required.
  • Professional activities require a professional qualification or at least 6 months of experience.
  • Not to combine two financing requests from the Bank’s financing programs in projects.
  • The bank’s premium shall not exceed 33% of the employee’s sponsor’s net salary, taking into account any obligations outside the bank.

See also: One of the projects of the Kingdom’s Vision 2030

How to register in Riyada Support for projects

An entrepreneur looking to start a new small business can apply for financing support by following the following:

  • Click on the link to submit support requests from Riyada “from here”.
  • Agree to the declaration at the top of the registration page by clicking on the (I accept) icon.
  • The registration portal will appear for you to choose the branch and the type of support required to be able to access the system.
  • Click on the (Send) icon.
  • Fill out the required data in the registration form in Riyada support projects.
  • Follow the instructions for registration.
  • Then click on the (Register) icon.

Here we bring you to the end of this article, in which we got acquainted with the projects supported by Riyada.

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