The Reality of SMEs and Sustainable Development from the Perspective of Innovative Economic Vision of the Kingdom of Bahrain 2030

Mohamed Al Zayani; Manar  Baher; Sumaya  Al Beeshi; Hadiya Al Ajmi; Mohammed Alaghbari

doi:10.54489/ijtim.v3i1.194

Authors

Mohamed Al Zayani Ph.D. Candidate in the Department of Innovation and Technology Management, Arabian Gulf University, Manama 329, Bahrain
Manar Baher Ph.D. Candidate in the Department of Innovation and Technology Management, Arabian Gulf University, Manama 329, Bahrain
Sumaya Al Beeshi Ph.D. Candidate in the Department of Innovation and Technology Management, Arabian Gulf University, Manama 329, Bahrain
Hadiya Al Ajmi Ph.D. Candidate in the Department of Innovation and Technology Management, Arabian Gulf University, Manama 329, Bahrain
Mohammed Alaghbari Assistant Professor, department of Business Administration, Applied Sciences University, Al Aker 623, Bahrain

DOI:

https://doi.org/10.54489/ijtim.v3i1.194

Keywords:

SMEs, Innovation, Management, Economic, Sustainability

Abstract

The study aimed to identify the reality of SMEs and the sustainability of their development from the perspective of innovation in light of the economic vision of the Kingdom of Bahrain 2030. The study used the descriptive analysis approach, based on the published reports of small and medium enterprises. In addition, the survey has been used to find out the size of the obstacles and challenges facing these small and medium enterprises in the Kingdom of Bahrain. The sample consists of 270 small and medium enterprises in the Kingdom of Bahrain as the population of this study was 829 company, were the data collected has been analyzed using the SPSS version 27. The study's findings highlight the significance of institutions' long-term viability and growth in light of their central function in the advancement of the economic development cycle. Another significant factor is the requirement for the company to grow and innovate in its operations, as well as the financial and marketing help that the state may provide as a partner in the economy's growth. Furthermore, Companies greatly contribute to the strategic and economic planning of governments due to their significant impact on the economy and involvement in it. In order to achieve the maximum levels of the economy, which in our day has become the most important priority, the researchers advised enhancing the activation of institutional processes and working toward the creation of creative and smart institutions crucial for nations, which in turn promotes the growth of entrepreneurship initiatives and their operations. Additionally, he exhorted small and medium-sized businesses to step up their support by investing in the creation of their cutting-edge goods in order to keep up with the market and achieve the goals of the Kingdom of Bahrain's Vision 2030.

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