Bahrain’s Labour Fund Tamkeen relaunched its Business Development Programme in February 2021, with major updates that are in line with its newly announced strategy and the current market needs, focusing on growth and sustainability of the enterpises.

Tamkeen’s Business Development programme provides an opportunity for enterprises with specific goals for development, and a clear plan of how to utilise Tamkeen’s support to achieve those goals. Through this programme, enterprises get to improve their performance and productivity levels, therefore contributing towards the national economy, while also creating more job opportunities for Bahrainis.

The most prominent changes within the programme focus on supporting enterprises that have clear development goals and is in the process (if not already) of improving their production through automation and digitisation, and have plans of expanding their operations into regional and global markets. In addition, the changes include supporting virtual CRs, and supporting the wages of Bahraini employees.

Based on the current market needs and in line with Tamkeen’s objectives of positioning the private sector as the main engine of economic and sustainable growth, the programme aims to focus on productivity, sustainability, and impact across all sectors.

The programme provides grants that cover a proportion of items and services needed by the enterprise, in addition to supporting the human capital by subsidising and/or increasing the wages of Bahraini employees.

WHY IS TAMKEEN DOING THIS?

The year 2020 has proven to be an exceptional year that imposed change. The pandemic made not only enterprises, but Tamkeen as well to reconsider and revise its directions based on the market needs. As such, the revamped Business Development Programme ensures the optimal utilisation of Tamkeen’s budget to invest in the development of enterprises with high levels of productivity and sustainable impact, therefore contributing towards the growth and development of the Kingdom’s economy.

This will significantly improve the labour market, and create job opportunities for Bahrainis, which already falls in line with Tamkeen’s objectives.

WHY FOCUS ON PRODUCTIVITY?

Productive businesses are dynamic, and are constantly evaluating their performance, identifying opportunities for savings, developing partnerships, and seeking more efficient ways expanding their customer base.

Such businesses are better positioned to deal with economic challenges because of their flexibility and adaptability. For a business to continue thriving in tomorrow’s market, it needs to embrace ongoing change that has become a global reality. 

Productivity can be enhanced through several initiatives, such as: human capital development through training and incentives; energy efficiency and renewables; exporting products and services; expanding into other regional and global markets; and leveraging technology to transform a business.

PROGRAMME OFFERS NEW SERVICES

The changes to the programme include integrating the Business Development programme with Wage Support as one, to effectively serve the needs of enterprises. The programme is set to include the largest possible segment of enterprises, including micro, small, and medium, as the areas of support within the Business Development Programme have been extended with more flexibility to include different types of wage support, and support service providers with virtual CRs.

The updated version of the Business Development Programme will cover: items and services for business requirements; and human capital support for Bahraini employees.

The programme provides a number of items and services that can be utilised by enterprises to boost their productivity and accelerate their growth. These include: machinery and equipment; information communication & technology (ICT); cloud computing; marketing & branding; exhibition participation; business consulting; quality improvement; and accounting and auditing.

For more information regarding Tamkeen’s support programmes, please check its website www.tamkeen.bh and follow its social media channels @tamkeenbahrain n