Muscat, Dec 11
The Small and Medium Enterprises Development Authority (SMEDA) organised the 'Venture Investment and Family Business Governance Programme' with the aim of keeping step with technological and market changes in the private sector and promoting innovation and economic growth.
The two-day programme included two interconnected workshops that aim to enhance the positive and mutually beneficial relationship between family businesses and the start-up ecosystem.
These workshops aim to explore venture investment and entrepreneurship within family businesses, and highlight the latest trends in governance to promote innovation.
The workshops addressed the importance of the capital market as a basic financing tool, in addition to human capital and technology. Moreover, the capital market helps companies to continue and sustain other than privately owned companies and family businesses. The capital market helps companies to sustain by applying governance standards and financial and non-financial disclosures that will raise the level of transparency and integrity.
“The programme aims to empower family businesses on bold investment in start-ups as it includes a comprehensive understanding of the role of family businesses and their empowerment, in addition to identifying new trends in the field of family business governance and bold investment, which enables family businesses to develop long-term strategic visions in investing in start-ups,” said Fathia al Hakmani, Director of the Investment Department in the Authority.
The launch of the programme, which is the first of its kind, came to spread the culture of keeping pace with change among family businesses to enter sectors outside their traditional fields, and encourage them to embrace emerging companies and advanced knowledge-based industries such as technology, artificial intelligence, renewable energy and other fields that will contribute effectively to the country's future economy.
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