Entrepreneurs Development Program EDP Factors of Success EDP

Entrepreneurs Development Program (EDP)

Factors of Success (EDP) n n n The support given to the project from the Government. The flexibility of the economy, since Bahrain is 2 nd freest economy in the Middle East & the 39 th in the world. The availability of human elements that are able to be trained and developed.

The objectives of the (EDP) n Establish Entrepreneurship culture. n Encourage youth to assume responsibility. n Provide technical consultancy for the preparation of business plans and feasibility studies for projects. n Provide creative ideas in marketing methods and ways to exploit optimally.

SMEs Policy n Encourage Entrepreneurs n Industrial Infrastructure n Marketing and Export Development n Simplification of rules and procedures n Reduce paperwork, and time of completion of transactions to a minimum, through the new electronic system application Business Licensing Integrated System BLIS https: //www. business. gov. bh/

https: //www. business. gov. bh/

SME Definition Category • Text Number of Employees Capital Investment (BD) (Manufacturing Sector) Annual Turnover (BD) (All Sectors) Micro Up to 10 Up to 20, 000 Up to 100, 000 Small 11 -50 (up to 100 for Construction Sector) 20, 001 - 500, 000 100, 001 -1 million Medium 51 -250 (up to 400 for Construction Sector) 500, 001 - 3 million 1, 000, 001 – 5 million Notes: 1. Threshold limits of both employment and capital investment/turnover will have to be complied with. 2. For SME’s in manufacturing sector (including process industries), capital investment will be the defining criterion. For all other sectors, turnover based definition will be used. 3. Capital investment does not include cost of land building and will be calculated at the original value of purchase. 4. Turnover figures need to be substantiated by a copy of audited balance sheet. (For micro businesses, only bank statements should be sufficient. For Small Businesses, in the absence of audited financials, software based compiled financials and bank statements will be sufficient. ) 6

Bahrain Subcontracting and Partnership Exchange Program (BSPX) § § To bring together and match enquiries and offers for subcontracting work and outsourcing. Mostly consists of data and information systems that works as services centers for technical industrial information in order to provide communication and promote investments and job opportunities.

Industrial Technical Assistance Program Objectives n n n Achieve productivity improvement, Reduce operation costs, Save resources in particular through reduction in water and energy consumption, waste minimization and saving material throughout the production process. Methodology

SME Toolkit Bahrain SME Toolkit is an online solutions platform designed to help entrepreneurs, small and medium enterprises (SMEs) grow their business and improve performance.

SME Toolkit Bahrain n n The Ministry of Industry and Commerce and IFC, a member of the World Bank Group, launched the SME Toolkit in Bahrain on May 2015. In cooperation with:

www. Bahrain. smetoolkit. org 11

Invest in Bahrain Forum 2007 - 2016 The Forum orientations within the Ministry of Industry and Commerce to promote Bahrain as a destination and industrial investment in the region distinct. The forum offers investment opportunities available in Bahrain, especially in the industrial sector, including information of budgets required, economic feasibility in the short and long term, area size, number of employees…ect.

Bahrain International Investment Park www. biip. com. bh n n n Designed to attract high value-added projects, Create quality local employment and wealth in a world class physical environment, Offers unique incentives including: -100% foreign ownership of companies; -0% tax with a ten-year guarantee; -Special Customs services; -No recruitment restrictions and the dedicated assistance of a professional management team.

Ministry of Industry & Commerce http: //www. moic. gov. bh/moic/en Bahrain International Investment Park www. biip. com. bh Business Licensing Integrated System https: //www. business. gov. bh/ SME Toolkit Bahrain www. Bahrain. smetoolkit. org