Small firms’ sales rise 80% in 2015: report
May 20 2017 01:14 AM

The volume of annual sales of small business facilities that hire less than 10 workers amounted to QR24.7bn in 2015, marking a 80% increase compared with the revenue for 2010, which stood at QR13.7bn.
The Ministry of Economy and Commerce (MEC) has recently released the outcomes of its analytical report on the growth role of small business facilities in Qatar, which operate with less than 10 workers in all its various production operations.
The report affirmed the growing economic role of such companies as one of the main pillars of the economic diversification strategy. The number of these increased from around 13,600 in 2010 to 16,500 in 2015. These have been mostly active in the personal and social services sectors, including home services, computer maintenance, laundry and beautification. In addition, light industries such as clothes and furniture manufacture covered a considerable part of these businesses.
Similarly, business services such as insurance, financial, real estate and auditing and legal services rose considerably within this category of companies during 2010-2015.
The increasing population throughout these years and the growth of tourism in the country also resulted in increase in the categories of restaurants and hotels, which rose from 896 facilities in 2010 to 1,204 in 2015. Also, the small educational and training centres multiplied in 2015 compared to the figures of 2010, with 151 facilities in 2015.
The total number of workers at small companies in 2010 stood at 49,900 and rose to 66,900 in 2015.
The report stressed that MEC alongside the departments concerned at Qatar Development Bank has been keen to support and enhance the participation of the sector in the national economy.

There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*