Ministry of Human Resources Marks World Entrepreneurs’ Day, Reaffirms Youth Empowerment
Saudi Arabia’s Ministry of Human Resources and Social Development has reaffirmed its commitment to supporting youth and entrepreneurs through a series of strategic programs and initiatives aimed at boosting national capabilities and driving economic and social opportunities in line with the Kingdom’s Vision 2030.
In a statement marking World Entrepreneurs’ Day, observed annually on August 21, the ministry highlighted the significant growth in the number of small and medium enterprises (SMEs), which have surged from 429,000 in 2016 to over 1.2 million in 2025.
The ministry attributed this growth to an integrated support system designed to empower entrepreneurs, expand freelance work, and strengthen the role of community sectors in contributing to sustainable development and the private sector.
As part of its innovation drive, the ministry launched the “Innovation Hackathon for a Better Future” in 2024 and 2025, attracting wide participation from young Saudis.
The initiative provided a platform for developing creative and technological solutions to challenges in the labor market while supporting startup ventures and facilitating access to funding partners.
Early 2024, the ministry also rolled out its Youth Development Strategy, introducing over 20 targeted initiatives to train and empower young people.
This included establishing the General Department for Youth Development and launching a professional certification for youth work, in collaboration with the Association Support Fund, to enhance practitioner competence and promote youth leadership in entrepreneurship and development.
On the social welfare front, the ministry achieved a 33.7% empowerment rate for social security beneficiaries in Q1 of 2025 through three core pathways: employment via digital platforms and career forums, entrepreneurial project support, and professional training programs.
These efforts enabled over 23,394 individuals—exceeding the target of 21,246—to become economically active. Among them, 3,922 beneficiaries received financial and non-financial support through key partners to launch their own projects, aiming to improve living standards and economic self-sufficiency.
The ministry also highlighted the success of its Freelance Work Initiative, which allows Saudis to register for official freelance permits and benefit from state-backed incentives.
Active freelancers now exceed 400,000, with 62% holding bachelor’s degrees, 31% having a high school diploma or less, and 7% possessing postgraduate degrees—demonstrating the model’s broad appeal across educational backgrounds.
To further support entrepreneurs, the “Volunteer with Your Expertise” initiative engages senior figures from the public, private, and non-profit sectors to mentor and assist new business owners in overcoming sector-specific challenges.
In a bid to ease operational burdens on micro-enterprises, the Saudi Cabinet recently approved a three-year extension of the financial fee exemption for small businesses employing nine workers or fewer, including their owners.
This decision is expected to further stimulate entrepreneurship, support SME continuity, and bolster national economic transformation efforts.
