Muscat – The Authority for Small and Medium Enterprises Development (ASMED) has launched its sixth financing programme to support SMEs across all sectors.

The programme seeks to support those SMEs which have been granted a tender or have been contracted by the government companies or entities to provide various services.

A statement issued by ASMED said, ‘The programme targets existing SMEs in all sectors and economic activities.’

To apply for funding, it said an SME has to pass ASMED’s Jahiziyah Programme for Entrepreneurs.
Jahiziyah is an intensive training programme that aims to develop the knowledge and leadership skills of entrepreneurs.

It helps entrepreneurs to match the rapid changes in their field, enhance technical know-how and practices that contribute to the sustainability of projects, whether in the stage of establishment, project development, or crisis management, which may have a direct or indirect impact on efficiency of the project.

The overall aim of Jahiziyah is to create successful self-employed enterprises through intensive technical and business skill trainings and mentoring support during the stabilisation period of their projects, in addition to instilling awareness on entrepreneurship based on prior vocational and technical training.

During the recent years, the number of SMEs in the sultanate increased manifolds giving a fillip to the country’s economy.

According to the National Centre for Statistics and Information, the number of SMEs registered with ASMED rose to 81,460 by the end of July this year compared to 55,491 during the same period in 2021.
This shows a major jump of 46.8 per cent.