Social Development Bank Launches Franchise Go Forum To Empower Entrepreneurs In Riyadh

The Social Development Bank initiated the "Franchise Go" Forum in Riyadh, drawing participation from senior bank officials and representatives of partner organisations. Entrepreneurs, brand owners, and experts from both local and international spheres attended the event. Eng. Muied Al-Bishi, Vice President of Strategy and Innovation at the bank, described the forum as a strategic platform to broaden economic empowerment opportunities.

He emphasised that the forum is more than just an event; it serves as a practical gateway for entrepreneurs to connect with brand owners. Participants can learn from successful experiences and explore proven business models that enhance growth and sustainability prospects. The franchising sector is crucial for Saudi Arabia's economy, valued at over SAR53 billion, with franchise brands growing by 27% annually.

This sector plays a significant role in diversifying the national economy, aligning with Saudi Vision 2030 goals. The first day of the forum included panel discussions on key franchising topics like "The Future of Franchising" and "Opportunities and Challenges in the Sector." Success stories were also shared to inspire attendees.

Several cooperation agreements were signed during the event with entities such as Al-Kharj Chamber, Al-Zulfi Chamber, and various companies. These agreements aim to support entrepreneurs and small enterprises by enhancing training, financing opportunities, developing the franchising environment, and supporting digital transformation alongside innovative financial solutions.

An exhibition accompanied the forum, allowing participants to engage directly with franchisors. They could explore successful franchise models and learn from inspiring experiences. The exhibition provided a professional space featuring training workshops and advisory sessions conducted by bank experts and the Dulani Business Center on subsequent days.

These sessions aimed to assist entrepreneurs in preparing operational and marketing plans, enabling them to establish ventures with guided models and financial backing. In 2021, the Social Development Bank introduced a specialised financing track for franchising with funding up to SAR4 million. This includes flexible repayment terms extending up to eight years along with facilitated guarantees.

Comprehensive Support for Entrepreneurs

A package of non-financial services complements this financing track. It includes training, qualification, and consultations offered through the Dulani Business Center. These services empower entrepreneurs to build businesses based on sustainable models that are well-planned.

The exhibition will continue over two days as part of efforts by the Social Development Bank to reinforce its role as a key enabler in franchising. It aims to support job creation, develop less-developed regions, and expand national brands' presence both regionally and internationally.

With inputs from SPA