The control or monopoly in foreign trading on oil and its by-products may subsequently occur at the global distribution while “shrinking value” or total reduction of prices is thrown at the feet of local producers. The threat in foreign trading may only subsist by major stakeholders (wholesalers) and rich consumers like the European countries, US and Japan, to exemplify a few. However, generally the poor economies may end up into recession as a result of decelerated spending due high cost of commodities related to energy-dependent industries on manufacturing of goods.
To sum up, the SWOT analysis aim to “explore the gaps” of the small business sector in Saudi Arabia, in which the gaps could be used as a derivative to reach out in understanding the critical role of SMEs in the general and specific perspectives of the industry. The perceptions may lead to “measures of undertaking” an assertive and extensive method of studies. The SMEs in Saudi Arabia could achieve substantial growth opportunities through intensive institutional support.
It is critically viewed that the business environment policy must totally establish a prime-fund-facility that facilitates the crediting scheme, wherein sound financial management accountability would be reflective of governmental fiscal administration to account the financial needs of the private sector. As briefly reviewed, Director Fatin Yousef Bundagji of Women Empowerment and Research at the Jeddah Chamber of Commerce and Industry (JCCI) has found that the SDIF and CSCCI guideline is burdensome and highly extensive that results lesser applications.
Bundagji implied that the Saudi Arabian General Investment Authority (SAGIA) and the Saudi Arabian SME Development Authority (SASMEDA) are not officially a functional authority to provide overall facilitation to the SMEs (Bundagji, 2005). Thus, the earlier finding of Bundagji addresses the current issue of SMEs that must be unified or organized as a coalition to promote its national identity, role and legal representation to the industry.
It may be then concluded that the unification process of the SMEs may create “decentralized” corporate governance to empower the industry sector in Saudi Arabia. This perspective may totally supplant the “foreign archetype” with ingenuity of locally-generated development-framework of SMEs, to propel the sustainable technological-economic restructuring of the Kingdom from its “keepers” that amass the wealth of the desert and dwarfed the socio-economic-cultural autonomy of future population.
AME Info (2008). ‘Saudi economic reform to accelerate in 2008’. Retrieved 12 July 2008 from http://www. ameinfo. com/144599. html. Bundagji, F. Y. (2005). ‘Small Business and Market Growth in Saudi Arabia’. Arab News. Retrieved 12 July 2008 from http://www. benadorassociates. com/article/18663. CSCCI (2008). ‘40 Billion Riyals Funding For the National Industrial Strategy Programs’. Council of Saudi Chambers of Commerce and Industry. Retrieved 12 July 2008 from