A Review of the Entrepreneurship Ecosystem of Oman (original) (raw)
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Mapping Entrepreneurship Ecosystem of Oman
Paper critically reviews existing initiatives of Oman for entrepreneurship growth. It identifies the existing stakeholders of the entrepreneurship ecosystem of Oman, their work and potential for viable interventions to further entrepreneurship reflecting Oman's economic development process. This framework is designed based on secondary resources to explore the stakeholders of the entrepreneurship ecosystem of Oman. Limited access to in different governmental and private organizations made the task challenging. The conceptual information are related to only Oman not in the whole universe A useful information source for students, academics and policy-makers. This study contributes to the knowledge on how entrepreneurs can be supported by the entrepreneurship ecosystem of Oman to develop and expand their business. Entrepreneurship ecosystem of Oman is under development and infancy stage institutions are prospering. Challenges remain for an effective intervention. Oman requires to encourage opportunity entrepreneurship.
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Entrepreneurship Ecosystem: An Appraisal of Oman Using the Ease of Doing Business Index
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Today, promoting and nurturing entrepreneurship is a core component of economic development in countries around the world. Fostering entrepreneurship as an economic development strategy necessitates a suitable ecosystem termed an “entrepreneurship ecosystem”. Isenberg developed a model of the entrepreneurship ecosystem in 2011 that contains six domains: a conducive culture, enabling policies and leadership, availability of appropriate finance, quality human capital, venture-friendly markets for products, and a range of institutional and infrastructural supports. These six domains are composed of fifty specific sub-components. This study in its current form shall assess the regulatory and institutional framework aspect of the entrepreneurship ecosystem in the Sultanate of Oman. This assessment is done from 2012 to 2019 using the Ease of Doing Business Index published by the World Bank. It is discovered that the overall Doing Business score for Oman increased to 67.19 in 2019 from 66....
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Today, promoting and nurturing entrepreneurship is a core component of economic development in countries around the world. Fostering entrepreneurship as an economic development strategy necessitates a suitable ecosystem which can be termed as “entrepreneurship ecosystem.” Isenberg’s (2011) model of an entrepreneurship ecosystem contains six domains, namely a conducive culture, enabling policies and leadership, availability of appropriate finance, quality human capital, venture-friendly markets for products, and a range of institutional and infrastructural supports. All of these six domains are composed of fifty specific components. The policies enacted by governments deal with institutions, financial support, regulatory framework incentives, research institutes and venture friendly legislation. This study in its current form shall assess the regulatory and institutional framework aspect of the entrepreneurship ecosystem in Sultanate of Oman. This assessment shall be done from 2012 t...
Oman Entrepreneurship Highlights: A Case Study of Nawa International
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Entrepreneurship in Oman is still relatively on the premature stage of development considering the current conditions within the Omanis business policies and structure that hinders the full potential of the SME sector in the country. Amidst the challenging SME business environment in Oman is a thriving company proving that there is room for growth for entrepreneurs in the country. The discussion will highlight Nawa International and its key entrepreneurial leader and Managing Director Mr. Khalid Al Suleimany in terms of analyzing how the company's entrepreneur and their outlook enabled the organization's growth. Both the challenges and achievements will be highlighted in the discussion with analysis done on the factors affecting the success or failure of the SMEs in the country. In here, the business overview will provide relevant insights regarding the company followed by a discussion on the key characteristics that the organization's entrepreneur have that enables positive output. Furthermore, the discussion will also highlight assumption about the business and the SME sector in Oman as a whole, which also includes discussion on the key issue and analysis of the described factors that drives the failure and success of the SME businesses in the country including that of Nawa International.
ENTREPRENEURSHIP GROWTH IN OMAN: POSITION, PROSPECTS AND GROWTH OF ENTREPRENEURAL EDUCATION
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Entrepreneurship plays an important role in economic prosperity and social stability in many developed countries. Entrepreneurship has been adopted as a strategy to promote economic activities among young people. There is a growing interest in understanding the various challenges of youth entrepreneurship. The main purpose of this study was to assess the challenges in entrepreneurial growth of young entrepreneurs in the Sultanate of Oman. This research was set out to investigate the obstacles that young people encounter when setting up their businesses; the current obstacles that prevent the expansion of their entrepreneurial ventures; as well as the prospects for youth entrepreneurship development in this community. The study employed a descriptive survey research type and used convenience sampling technique to collect data. A standardized questionnaire was used as an instrument to collect data to establish the perceptions of 52 young Omani entrepreneurs. This paper is significant in that it brings insights on challenges for entrepreneurship in Oman. The importance of stimulating the entrepreneurial spirit, values, and attitudes of young people and encouraging innovative business start-ups while fostering a more entrepreneur-friendly culture must be translated into actual and effective policy actions in Oman. We consider that supporting youth entrepreneurship must be an Oman's priority.
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This paper attempts to provide a holistic understanding of the environment in which entrepreneurs and SMEs and startups operate; the so-called entrepreneurial ecosystem in 22 Arab countries and proposes ways forward to stimulate and enrich the culture of entrepreneurship in the region. The ecosystem domain mapping, inspired by Isenberg’s model, enabled to spot the gaps and constraints in the ecosystem. The measures to energize the ecosystem and the methods of intervention to stimulate entrepreneurship were done using GIZ model. The study concluded that much of the potential for digital entrepreneurship remains untapped by local entrepreneurs but eaten up by foreign businesses dominating the landscape. Thus, there is a high potential in the region for young and women entrepreneurs with the right type of skills and knowledge are instilled, and providing the entrepreneurial ecosystem is enabling. The paper provides some general recommendations and the ways forward.