The session shed light on the subject ‘The National Budget and Opportunities for Small and Medium Enterprises (SMEs).’
The principal speakers at the January session of ‘Tajribati’, Ahmed Said al Kshoub, economist, and Ashok Hariharan, companion and tax manager, KPMG, outlined what was announced in the spending budget statement and what it indicates for SMEs.
Kshoub stated, “I would like to laud the efforts of Zubair SEC. The centre has genuinely contributed to the improvement of the entrepreneurship culture in the sultanate and has been tremendously supporting young Omanis to attain company good results. It has gone beyond the standard mentorship models and has been a companion and collaborator for its members. Empowering entrepreneurs and owners of commence-ups will outcome in sustainable influence and Oman will advantage immensely out of it.
“Zubair SEC has been playing a major role in supporting the government efforts in nourishing entrepreneurship and encouraging self-employment. Programmes like ‘Tajribati’ is certain to empower the start-ups as they stand to benefit from experienced speakers and specialists.”
Highlighting that there have been numerous optimistic points outlined in the spending budget for SMEs, Kshoub stated, “It was aimed at strengthening the role of SMEs in nation building and creating jobs for Omani youth.”
Khsoub elucidated as to how SMEs have received a lot of interest in the 2018 spending budget. He explained that as per the new spending budget, there is a great space for SMEs to obtain projects and contracts, which is a substantial step. Besides, it has been decided to speed up the payments of SMEs and continue offering credit facilities to SMEs.”
Khsoub advised SMEs to have a clear-reduce method for their company. He stated, “Think on the lines of merging with a fellow SME. Through these mergers, it is possible to create large companies in the local market in over five to ten years.”
Hariharan stated, “It was fantastic for me and Sundar to be offered the chance to offer insights on the Oman Government’s 2018 spending budget to Omani SMEs who have been invited by Zubair SEC for their Tajribati session. We have been delighted with the interactive session we had and the keen want of the audience to get a deeper understanding of how the government earns its revenues and allocates its expenditure to distinct sectors.
“I was also impressed by their knowledge of the macro issues and challenges being faced by Oman and other economies in the region on account of the low oil prices. Zubair SEC must be complimented for the tremendous efforts they are taking to help Omani SMEs succeed in their business ventures and provide them a platform to gain insights from other businessmen and professionals. I wish your initiative continued success.”
The ‘Tajribati’ series serves as a special platform to connect market professionals with commence-up owners and new entrepreneurs to exchange views, go over frequent challenges and share very best practices. The ‘Tajribati’ session was attended by entrepreneurs, market consultants and aspiring entrepreneurs.
Expounding the believed behind selecting this subject for the session, Ali Shaker, company advisor at Zubair SEC, stated, “Faced with increasing financial challenges, it is crucial that SMEs are prepared to rethink company suggestions and innovate to remain competitive. It is consequently essential for SMEs to be as ready as feasible as they appear to prosper from the plusses presented in the spending budget.
“Our expert speakers provided a framework of the support allocated to SMEs and how they can take advantage of the backing. The government has provided the facilities and incentives for SMEs to grow in Oman and we hope they seize the opportunities.”
Zubair SEC has held numerous sessions covering a assortment of subjects pertinent to SMEs. Given the value of such discussions and transparent dialogue platforms, the centre plans to hold additional series to maintain creating capacity of its members in all vital locations.
The ongoing ‘Tajribati’ discussion series organised by Zubair SEC, a social duty initiative of The Zubair Corporation, is aimed at supporting young entrepreneurs and owners of little and medium enterprises.
Information Source: Muscat Daily