Micro, small and medium-sized firms (SMEs) are a key source of employment and economic growth in Sultanate of Oman. But many suffer from low productivity, curbing their role in boosting living standards. There are several ways to spur SME productivity growth over the medium term and Entrepreneur Oman is taking the first route to encourage the formalisation of the SMEs.
The Small and Medium Enterprises (SME) are classified into two:
The advent of advanced technology is opening newer channels for businesses across several sectors. Working in tandem with the larger goal of pushing for economic growth, SMEs can drive the socio-economic development of the country.