Bahrain commissions study on small, medium sector

August 19th, 2008 - 5:26 pm ICT by IANS  

Dubai, Aug 19 (IANS) Bahrain has commissioned leading American provider of credit information on businesses and corporations Dun & Bradstreet (D&B) to conduct a detailed study of the Gulf nation’s small and medium enterprises (SME) sector.Bahrain’s Labour Fund has engaged D&B Research & Advisory Services to develop a customised business-scoring model in order to streamline financing support for SME development in Bahrain, according to a D&B statement.

The scoring model will enable SMEs to identify growth opportunities and utilise feedback for improved business performance.

D&B has also been mandated to conduct a detailed study of the SME sector in Bahrain.

“The outcome of this study will add a great deal of value to our overall attention to SME development and assist us in effectively streamlining our financing projects and other related programmes to meet their needs and requirements,” Nasser Qaedi, head of planning and development at the Labour Fund, said.

“Utilising a comprehensive strategically defined approach, we are confident that this study will compliment our efforts to reinforce the role of SMEs and more effectively identify opportunities to support the capital requirements of businesses and encourage enterprise development across target sectors,” he added.

The objective of the study is to identify various challenges faced by Bahraini entrepreneurs in creating new businesses and in sustaining and growing businesses.

The Labour Fund will utilise the outcomes of this study to further strengthen its development programmes for SMEs and private sector support, according to the statement.

“This assignment will help Labour Fund strengthen various financing programmes for SMEs and also to identify solutions for various other challenges faced by Bahraini entrepreneurs,” Tatjana Marinko, director of D&B Research & Advisory Services, said.

Nations across the Gulf nation are increasingly looking at diversifying their economy in order to end their sole dependence on oil and gas.

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