Sunday, 17 Nov 2019 | 20 Rabi Al Awwal 1441
39% drop in SME registration till end of October this year

39% drop in SME registration till finish of October this year

The total quantity of SMEs registered in the month of October was 36,433, recording a rise compared to the month of September, when it was 35,994.

Among the governorates, Muscat topped the list with 41 per cent SMEs registered in October, followed by North Batinah at 14 per cent, Dakhliyah at nine per cent, South Batinah at eight per cent and the rest of governorates at 28 per cent.

The Governorate of Al Wusta registered the highest price of decline at 62.two per cent to 37 SMEs from 98 final year, followed by the Governorate of South Batinah, which registered a fall of 49.1 per cent to 351 SMEs at the finish of October this year against 689 SMEs in 2017. The Governorate of Dakhliyah registered a fall of 47.eight per cent to attain 505 from 967 SMEs in 2017, although Dhahirah saw a 45.five per cent fall in the quantity of SMEs to 224 from 411 in 2017.

The quantity of SMEs registered in North Sharqiyah and South Sharqiyah was 289 and 270, a decline of 42.five per cent and 38.four per cent, respectively, in the course of the exact same period in 2017. In the Governorate of Muscat, the total quantity of SMEs registered at the finish of October saw a 35.six per cent decline to 1,716 against two,666 in 2017, according to the information released by NCSI. The quantity of SMEs set up in Dhofar at the finish of October 2018 fell by 26.six per cent to attain 306 from 417 in the course of the exact same period in 2017.

In Musandam, there had been 19 SME units registered in the ten-month period of 2018, a fall of 24 per cent compared to 25 SMEs registered final year, whereas in Buraimi, the quantity was 161 at the finish of October this year compared to 177 final year, a drop of 9 per cent.

Information Source: Muscat Daily

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