The government of Bahrain has launched numerous initiatives to support investors and entrepreneurs in strengthening their businesses financially and economically.
One such initiative is Tamkeen, meaning “empowerment” in Arabic. It achieved great success in its early years. Since its inception, Tamkeen in Bahrain has worked to strengthen the national economy by supporting the development of the private sector as the engine of economic growth in the Kingdom.
Founded in 2006, Tamkeen is a semi-government agency that supports private sector businesses and individuals by providing assistance and training, thereby promoting business development in Bahrain. Its vision is to empower Bahrainis and establish it as the most significant contributor to the national economy.
Also known as the Bahrain Labour Fund, Tamkeen’s mandate focuses primarily on developing Bahrain’s workforce to enhance its competitiveness in the market. It also aims to boost business productivity and efficiency while creating value-added job opportunities in the Kingdom.
Tamkeen in Bahrain plays a significant, distinct, and critical role in the national economic development landscape, having supported over 140,000 Bahrainis and businesses. It assists organizations in several key areas. Some of them are as follows:
Three pillars that underpin Tamkeen are:
- Customer centricity
- Quality improvement
- Delivering results
At a business level, every stage of the venture presents a unique challenge and a solution that works for one stage but may not work for others. Over time, it can become increasingly difficult for an entrepreneur or even an established business to find solutions. Tamkeen comes to the rescue here.
At Tamkeen, businesses are defined based on their growth needs at each stage of their lifecycle, whether they are in the planning, start-up, or growth stage. To encourage entrepreneurs to start new businesses and maximize their impact, Tamkeen offers customized support that meets each company’s exact needs.
To date, Tamkeen has launched around 200 programs that focus on areas such as funding and financing, skill and career progression, customized employment schemes, and entrepreneurship exposure, amongst many others. The other achievements of Tamkeen since its launch are:
- The Tamkeen portal has helped 55% of business owners increase the number of Bahraini employees in their organization.
- They have launched more than 60 initiatives to help around 38,000 private sector employees.
- Six enterprises have so far benefited from Tamkeen’s program on investment support, creating more than 200 jobs.
- As part of Tamkeen’s Enterprise Finance Scheme solutions, businesses obtained BHD 15 for every BHD 1 spent by Tamkeen.
- The portfolio of Tamkeen’s Enterprise Support Finance Scheme has exceeded BHD 400 million.
Our Offerings
Since entrepreneurs require extensive support when setting up their businesses, Tamkeen in Bahrain can be of great help. Tamkeen understands these needs and has developed a variety of programs through which entrepreneurs can obtain funding and incubation. We at Business Setup Worldwide ( BSW) help companies through the Tamkeen application process. Our services can benefit new start-ups as well as established companies. We understand the hardship of running a business and will provide complete assistance till you get the final approval from the Tamkeen Business Center.
How Business Setup Worldwide Can Help?
We have fostered strategic relationships and liaisons that are pivotal to the success of your business in Bahrain. Our consultants provide strategic solutions to all the problems relating to your business. In other words, we remove the hurdles that come across your venture in any part of the world in a cost-effective manner. Contact us today for more information.
