Tuesday 24 / September / 2024
Muscat: The number of Small and Medium Enterprises (SMEs) registered with the Authority of Small and Medium Enterprises Development (ASMED) reached 141,126 by the end of June 2024, according to a bulletin published by ASMED.
The bulletin also indicated that the number of micro enterprises exceeded 120,000, while the number of small enterprises crossed 19,000. Meanwhile, the number of medium enterprises reached more than 1,100.
This bulletin reviews the most prominent indicators and statistics related to the small and medium enterprises sector in the Sultanate of Oman, embodying the approach of communicating with the community and enriching entrepreneurial knowledge.
The number of institutions that have obtained the Entrepreneurship Card that enables its holder to obtain many facilities in various sectors from relevant authorities, by providing a set of privileges by some government and private entities for the first time during the first half of this year, reached 10,388 and the total number of small and medium enterprises that have obtained the active Entrepreneurship Card is more than 28,000.
The bulletin addressed the continuous services and initiatives provided by the Authority, as the number of public and specialised business incubators in the Sultanate of Oman during the current year reached 18, which hosted 85 institutions, provided 198 job opportunities for Omani youth in various economic activities, and recorded revenues of more than OMR800,000 during the first half of 2024.
Business incubators and centres work to provide the appropriate environment and technical support for entrepreneurs and owners of innovative ideas while practicing their business, encouraging and supporting investment in the business incubator sector in small and medium enterprises, providing appropriate technical support to transform investment, commercial, economic and other ideas into successful small and medium enterprises, and providing administrative, advisory, legal, accounting, and marketing services, periodic follow-up, assistance in preparing feasibility studies and business plans, and financing incubated projects according to the procedures followed.
The bulletin focused on the service of usufruct lands, which are granted to small and medium enterprises that have obtained an entrepreneurship card for industrial uses in most governorates of the Sultanate of Oman, at a nominal annual fee with an exemption from payment for the first two years.
The total approvals for usufruct lands during the first half of this year amounted to 44 approvals according to the package of plans for usufruct lands announced by the Authority in a number of governorates of the Sultanate of Oman through the Tatweer platform of the Ministry of Housing and Urban Planning, with a set of advantages for entrepreneurs, including: setting nominal annual fees that are consistent with the conditions of small and medium enterprises, a grace period that allows the project owner to complete the preparation of his project according to a clear work plan, and giving him priority in obtaining facilities from the Authority for the Development of Small and Medium Enterprises in the areas of financing, marketing, training and qualification.
Entrepreneur Readiness Programme
The bulletin reviewed the total number of trainees participating in the Entrepreneur Readiness Programme, which amounted to 830 beneficiaries during the period from January to June of this year, of whom 786 entrepreneurs from various governorates of the Sultanate of Oman passed. Since its launch until the end of June 2024, the cumulative number of trainees enrolled in the program in all its tracks, which are foundation, enhancement, advanced, and contracts, amounted to 3,555 trainees, of whom 3,314 trainees passed.
The Entrepreneur Readiness Program is an integrated specialised training programme to enhance and develop the cognitive and entrepreneurial skills of entrepreneurs to keep pace with the rapid changes in the entrepreneurship system, and to enhance technical and technological practices that contribute to the sustainability of projects, whether in the founding stage, project development or crisis management.
It aims to raise the efficiency of entrepreneurs, develop their skills, understand the legislative aspect of the business environment, enhance financial and administrative skills, marketing skills to manage crises, prepare an economic feasibility study, and employ emerging technologies in their projects. -ONA
