Over 40,000 companies registered as SMEs in Oman

TimesTV Tuesday 10/September/2019 17:30 PM
By: Times News Service
Over 3,000 new official SMEs entered the market between 2018 and the end of July 2019, bringing the grand total to over 40,000.

This was revealed by the Public Authority for SME Development (Riyada).

There were 18,579 SMEs in Oman in 2015, which rose to 25,692 in 2016, 31,836 in 2017, 37,289 in 2018, and 40,326 by July 2019.

“To register in Riyada, the owners must all be Omani, the company must have its HQ in Oman, it cannot have more than 99 employees, and it must not make more than OMR3,000,000 per year. Furthermore, the company cannot be part of a larger company.” - Nayif Al Balushi, director of support and developments, Riyada