SMEDA organised a workshop to review the government's initiatives in promoting entrepreneurship, with the participation of various entities supporting the entrepreneurship system. The workshop emphasised the government's commitment to fostering entrepreneurship and strengthening the small and medium enterprises (SMEs) sector as a crucial pillar of the national economy. Support for SMEs is provided through a range of continuous packages of facilities, incentives and exemptions that align with the needs of the local market, as well as facilitating access for SMEs to global markets.
The workshop aimed at introducing the resources and support to the entrepreneurs by equipping them with knowledge and experience suitable for their growth.
It called for specialised training programmes in areas like economic feasibility studies, marketing, project management, consulting and innovative financing. Stress was on specialised programmes in collaboration with private sector institutions and policies to encourage small enterprises and institutions to access international markets.
Ishaq al Shukaili, Acting Assistant Vice-President for Small and Medium Enterprises Development at SMEDA, highlighted the Authority's efforts to support entrepreneurs. He discussed the range of facilities, incentives, programme packages and initiatives provided, including the Entrepreneur Readiness Programme and on-the-job training opportunities for job-seekers in small and medium enterprises across the Sultanate of Oman. Furthermore, he emphasised the importance of spreading the culture of entrepreneurship, the Authority's efforts in digital transformation, and creating spaces for dialogue and discussion with entrepreneurs through sessions and meetings held in various governorates of the country.
Dr Abdullah al Shukaili, Executive Director of the Centre for Entrepreneurship at the University of Nizwa, provided insights into the Global Entrepreneurship Monitor. He explained the report's methodology, its key data and indicators, and the significance of the Sultanate of Oman's presence in the report. He also discussed the benefits of the report's findings and put forth recommendations to enhance the entrepreneurship index.
Jalal al Hadhrami, Director of Small and Medium Enterprises Development at the Oman Investment Authority, presented the initiatives undertaken by the Authority to foster the growth of small and medium enterprises. He highlighted the agency's support through programmes like the supplier development programme and the business privatisation programme.
Haifa al Saadiyah, a specialist in local content support and follow-up at the General Secretariat of the Tender Board, reviewed the exemptions provided by the Secretariat. She also discussed the circulars and publications issued by the Secretariat, which aim to support and facilitate small and medium enterprises.
Hammoud al Hamdan, Director of the Technical Environment Development Department at the Ministry of Transport, Communications and Information Technology, shared the experience of the SAS Centre for supporting small and medium enterprises. He highlighted the centre's key indicators in terms of beneficiaries and business development, achieved through field visits, activities, events, external engagements, and linking companies with business opportunities. He also provided an overview of the centre's programmes.
Majed al Abri, media officer at the Capital Market Authority, presented on the Authority's role in promoting an entrepreneurial environment. He discussed the axes of innovative financing, insurance and commercial activities related to financial services.
Samira al Talia, Head of the Entrepreneurship Department at the Ministry of Education, detailed the ministry's efforts in spreading the culture of entrepreneurship. These efforts include incorporating entrepreneurship into academic curricula, organising seminars and conferences, and enhancing the roles of the Career Guidance and Student Counselling Centre.
Mohammed al Rasbi shared insights into the experience of the Oman Technology Fund in venture capital investment. He discussed the various stages of investment undertaken by the fund and its investment partners.
Mayan al Asfoor, representing Beehive, a company specialising in innovative financing, delivered a presentation on the significance of investment planning for emerging companies.
During the workshop, the inputs of the Global Entrepreneurship Monitor report were thoroughly reviewed. This report holds great importance as a global indicator. It annually examines the requirements of entrepreneurs, their characteristics, motives and the level of social values associated with entrepreneurship.
The report encompasses indicators from 51 countries worldwide until the end of 2022. These countries actively monitor and publish national and global reports on the entrepreneurship sector. By providing decision-makers with valuable insights into the nature and levels of entrepreneurial activities and highlighting the concepts and motivations of entrepreneurs within the research sample, the report serves as a crucial tool for measuring national entrepreneurship systems.
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