Startup Exporter Solution launched in Bahrain

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Export Bahrain, an initiative of the national SME Development Board, has launched its latest Startup Exporter support solution to help Bahraini businesses enter new markets.

The solution aims at encouraging new exporters and SMEs by providing incentive-based grants to overcome liquidity challenges faced by first-time exporters.

The move targets first-time exporters serving startups, SMEs and micro-businesses exporting new service and product lines. The solution will allow grants covering up to 20% of the initial value of their first export transaction.

Other services include export credit insurance facilities, internalisation and export advisory, export tendering, international retail buyer initiative, export shipping and logistics, export facilitation and deal support, export market intelligence and more. All first-time exporters are entitled to utilise Export Bahrain’s various offerings and services.

“Introducing new exporters into the market through the Startup Exporter solution is a critical component of our national strategy to attract more international buyers to small and medium businesses,” Zayed bin Rashid Alzayani, the Minister of Industry, Commerce and Tourism, and Chairman of the SME Development Board said.

“Initiatives such as this will serve to incentivise companies to explore new market opportunities and attract global buyers to products and services in Bahrain while helping to accelerate their growth. “We are hopeful that initiatives such as this will create new opportunities for Bahrain based businesses as they globalise their business models and seek to promote their products on a national level in the global marketplace.”

For her part, Safa Abdulkhaliq, Export Bahrain Acting Chief Executive Officer added: “Our latest solution is designed to encourage exporters to initiate their first export transaction and at the same time to cover the necessary overheads required for the cost associated with that.” She added: “This package is an extension of our innovative set of offerings aimed at easing the export challenges to all Bahrain based startups, SMEs and micro-businesses, which will support in enhancing Bahrain’s exports around the globe and support new opportunities to access global buyers.”

“We are firmly committed to nurturing businesses and their ability to promote their products and services to global buyers while ensuring that we continue to invest in the best solutions that can achieve tangible results that will accelerate their growth. We encourage businesses to explore these opportunities with us and where we can provide catered solutions for their exporting requirements.”