The symposium on the small and medium-sized enterprises, which is within the new corporates' system, currently being organized by King Khalid University (KKU), represented by the Corporate Governance Center, has come out with a number of recommendations such as the establishment of a fund after the name of His Royal Highness, Prince Faisal bin Khalid bin Abdul Aziz - the Governor of Asir region. The purpose of such recommendation is to support small and medium-sized enterprises as there should be a social responsibility of companies and individuals in the region of Asir.
The Chairman of the Scientific Committee of the symposium, Dr. Sultan Al Farah, has clarified that the recommendations included four main axes, the first axis was about holders and supporting banks for small enterprises. This axis talked about adopting a greater role for financial institutions to support small and medium-sized enterprises, in addition to establishing a center to provide all funding and management services for small and medium-sized enterprises, similarly as the General Authority for investment Center.
The second axis presented special stories and success factors in highlighting successful models in Asir region, in order to motivate young people to invest in small and medium-sized enterprises. In addition, the second axis included establishing a fund after the name of His Royal Highness, Prince Faisal bin Khalid - the Governor of Asir Region - to support the establishment of small and medium-sized enterprises; believing in the social responsibility for companies and for individuals in Asir region.
The third axis was about the Economic Committee in Asir region, the establishment of small and medium-sized enterprises in the region, and embracing businesses that stem from the culture of Asir region, as well as developing them to be trademarks and so, could be exported. The fourth axis was about governance in small and medium-sized enterprises, the development and preparation of a guide for corporate governance for small and medium enterprises. This is with the intention of helping them to implement corporate governance, and activating the role of the corporate governance center at King Khalid University in the rehabilitation of owners of small and medium enterprises, and in the supply of aid and support.