Finance and Technology: Key Challenges Faced by Small and Medium Enterprises (Smes) in Oman

Buraiki, Abdullah Al; Khan, Firdouse Rahman

doi:10.18510/ijmier.2018.421

Cited by 20 publications

(22 citation statements)

References 9 publications

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“…These qualities help to develop society and keep pace with the development and technological changes in the environment through entrepreneurial intention among the students. Indeed, the motivation for the student to achieve their dreams comes up with their ideas taught by the teachers educating courses like entrepreneurship education and the expected support from the educational authorities and government which is similar to the findings of Al Buraiki and Khan (2018). They create opportunities to satisfy the needs of individuals through establishing new markets and are creative in promoting innovative methods.…”

Section: Discussionmentioning

confidence: 81%

Entrepreneurial Intentions of the Graduating Students in Oman: A Case Study - Sohar University

Jahwari¹,

Khan²,

Al-Shibli³

et al. 2020

Int. j. res. entrep. bus. stud.

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Purpose of the study: The objective of the study is to critically do a review of literature on the factors impacting the entrepreneurial intention of the graduating students and to critically analyze the impact of such factors on the entrepreneurial intention of the graduating students. Design/Methodology: 269 undergraduate students were selected on a random sampling basis from Sohar University and were considered to be the sample for the study. An online questionnaire was shared through digital media for survey purposes which were filled by students. The statistical analysis was carried out using excel and SPSS. Findings: The findings of the study reveal that the Entrepreneurial intention is influenced by Graduate Potentials, Creativity, and Education of the students and not by Government support. The undergraduate students are developing creative skills and bringing out their entrepreneurial potentials and improvising their practical knowledge through their education. Implications: It was suggested that the graduating students need proper guidance to fulfill their entrepreneurial intention which is in the hands of teachers. Students should be exposed to the development of various skills – creativity, communication, presentation, marketing, funds management, etc. and they should be invited to a platform where competitions of all innovative kinds should be conducted regularly and the participants should be guided with assistance to improve their ideas. Originality: This research work is one of its first kind as no study was conducted before focusing on the entrepreneurial intentions of the students in Oman. Keywords: Entrepreneurial Intention, Entrepreneurial Potentials, Creativity, Government support, Education.

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Section: Discussionmentioning

confidence: 81%

Entrepreneurial Intentions of the Graduating Students in Oman: A Case Study - Sohar University

Jahwari¹,

Khan²,

Al-Shibli³

et al. 2020

Int. j. res. entrep. bus. stud.

View full text Add to dashboard Cite

show abstract

“…Many researchers have published statistical researches of the challenges faced by SMEs in Oman most notable the paper by Al Buraiki and Khan (2018). But there were hardly any which portrayed the strategies undertaken by SMEs in the current crisis.…”

Section: Methodsmentioning

confidence: 99%

“…Almost every study conducted by researchers have more or less, the same conclusion. Another research by Al Buraiki and Khan (2018) established that capital invested initially is the biggest hurdle to go through at the early stages or to run the business. Many factors happen to go under this since initial investment is always heavy due to money going behind research and development, getting the permit to setup the business, paying rent and other legalities.…”

Section: Literature Reviewmentioning

confidence: 99%

The strategies used by SMEs to survive during economic crisis in the Sultanate of Oman

Mahi¹,

Thani²

2020

J Stud Res

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It is said that 97% of the economy of the earth comes from small and medium sized enterprises (SMEs). Most manpower employed worldwide are by SMEs. SMEs in general, play a very crucial role for the development of a country. In developed nations, SMEs contribute to 60% of the country’s economy while SMEs in Oman contribute only 15%. Oman is classed as a developing country hence the SME scene is still raw. Depreciation in the price of crude oil put a lot of pressure in Oman’s economy for the last couple of years since oil revenue accounts for about 60% of the country’s earnings. During the times of economic crisis, the SME section are the ones who are affected the most. They pass through a gloomy phase that create a negative impact on their business returns. This study delved into various approaches taken by SMEs to survive the economic crisis which is stunting the growth of the country. A qualitative research was conducted among several SMEs in Oman. In-person interviews were administered, and questionnaires were handed out to the SME owners. The results showed that the SME owners had to conduct major layoffs. Using only the core workforce was one of the major strategies utilized by the SMEs. The owners didn’t expand their businesses, rather focused on expanding their products and services to reach a larger target audience. Discounts, offers, extensive external and social media marketing were also critical means of survival. Most of the SMEs are optimistic and are receiving a lot of assistance from the Public Authority for SME Development (Riyada) of Oman to ensure their survival

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“…Further, SMEs in Oman need effective system of information in order to deliver services among the different users and customers. However, using technology in SMEs is one of the most important factors for the expansion in productivity and services offered by the businesses in marketplace (Al Buraiki and Khan, 2018).…”

Section: Technology Changesmentioning

confidence: 99%

Insights on Sustainability of Small and Medium Enterprises in Oman: A Conceptual Framework

Alqassabi¹

2020

IJEFI

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This paper provides insights on the sustainability of small and medium enterprises (SMEs) in Oman and presents a conceptual framework for the government support to the SMEs. The paper adopted a sequential mixed method of interviews and structured questionnaire including 390 SMEs. Non-parametric techniques of Chi-square test and spearman rank correlation were used. The challenges facing SMEs in Oman include: The rules and regulations of doing business, the competition, and the lack of access to finance. The study also found that there is a positive correlation between government support and sustainability of SMEs in Oman. From the perspective of the government, supporting the SMEs is strategic to diversity the national economy and reduce the unemployment among the youths. This support includes marketing, financial, advisory, management, technical and infrastructural. However, many of the owners of the SMEs were not aware of these supports and raised issues regarding the procedures, laws, regulation and sufficiency of these supports.

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Finance and Technology: Key Challenges Faced by Small and Medium Enterprises (Smes) in Oman

Cited by 20 publications

References 9 publications

Entrepreneurial Intentions of the Graduating Students in Oman: A Case Study - Sohar University

Entrepreneurial Intentions of the Graduating Students in Oman: A Case Study - Sohar University

The strategies used by SMEs to survive during economic crisis in the Sultanate of Oman

Insights on Sustainability of Small and Medium Enterprises in Oman: A Conceptual Framework

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