Monday, January 17
07:54 PM

New initiative to support SMEs


Muscat – As part of its efforts to empower entrepreneurs and owners of small and medium enterprises, the Authority for SME Development (ASMED) has launched a new initiative.

“The new initiative Start-up Kit is a step to empower entrepreneurs,” according to an official at ASMED.

He explained, “The launch of Start-up Kit is part of the efforts to enhance entrepreneurs’ knowledge in areas related to the establishment and management of their enterprises. It also seeks to achieve the first objective of the labour market and employment priority of the Tenth Five-Year Plan.”

Start-up Kit is a specialised training and qualification programme for entrepreneurs, implemented according to sectors and in cooperation with the concerned authorities. The programme aims to provide the labour market with highly skilled and productive entrepreneurs.

The programme also aims to provide sector-specific specialised training and qualification programmes for entrepreneurs and those interested in entrepreneurship in cooperation with concerned authorities.

The total number SMEs registered in ASMED till the end of August 2021 stood at 56,687, compared to 45,706 in August 2020, constituting an increase of 24 per cent, according to data released by the National Centre for Statistics and information. The total number of SMEs till the end of September 2021 stood at 58,683 , with an increase of 26 per cent compared to same period of 2020.

Among the governorates, Muscat topped the list, marking an increase of 25.2 per cent compared to the same period in 2020 to reach 19,187 SMEs, followed by North Batinah which registered an increase of 23.7 per cent to stand at 8,945 SMEs.

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