KPMG hosted a seminar session at the Wyndham Grand earlier this week to discuss the future of SMEs in the Kingdom.
The event hosted more than 60 business owners and entrepreneurs across all sectors discussing the various challenges facing the Kingdom’s emerging businesses. They were joined by KPMG experts who shed light on how to grab opportunities in the marketplace and turn them into profitable advantages.
Managing Partner of KPMG Bahrain, Jamal Fakhro, took the opportunity to emphasize the immense contribution SMEs have made in Bahrain’s economy in shaping the country’s growth through capital investments, exports, and employment opportunities.
“At KPMG in Bahrain, we recognize the important role SMEs play in stimulating the economic growth. We apply our professional expertise and knowledge in the marketplace to support business owners achieve their objectives at any stage of their business.” Fakhro told attendees of the event.
Harish Gopinath, Partner and Head of KPMG Enterprise at KPMG Bahrain also elaborated on how an increase in funding can help the Kingdom’s SMEs take things to the next level. However, he pointed out that financial management capabilities of many businesses need further polishing.
“Funding still remains the main challenge to startups mainly due to their financial management capabilities. Information about the business financial activities is fundamental for SMEs to source funding from lenders. Therefore, absent or inaccurate information can jeopardize funding opportunities,” Gopinath said.