Riyada hosts second edition of programme to develop SMEs

04/02/2016 08:17 AST

Dwindling demand is seen as a major threat facing small and medium enterprises in Oman now. The fall in demand is due to the crash in global oil prices, explained by William R Crew, the founder of Inspired Solutions Co, while speaking at a workshop on the “mechanisms of continuing a new project” held by Public Authority for SME Development and British Petroleum Oman.

With the support of Riyada, BP conducted an session of the Khazzan Project for SME Development supported by Riyada on Wednesday. This programme is one of BP Oman Social Investment Projects and aims to help existing SMEs improve their operations by helping them develop a business plan and a growth strategy for the future.

The session, delivered by William R Crew, presented examples of SMEs that participated in the previous year’s programme. It also explained how to register for this year’s programme and conducted a sales development workshop. More than 50 SME attended the session representing various industries.

Despite the current situation, Crew emphasised that the aim of the SME is the real focus. “It doesn’t require a certificate to be successful at your project; you only need to head to the right direction”, he said.

Khalid al Kindi, Deputy General Manager, BP Oman, was quite confident that Khazzan Project for SME Development will achieve its objectives of upgrading the operations of the selected SME and encourage them to apply best practices. He looks forward to a successful implementation of the 2nd year programme. He added: “BP believes that SMEs play a pivotal role in developing the economy and the community. Our aim is to contribute, along with other organisations, in supporting SMEs in Oman. We are delighted of the results of the first edition of the programme and that has encouraged us to launch it again this year.”

In appreciation of BP Oman role in supporting the SME sector, Khalid al Haraibi, Deputy CEO of Riyada said: “We appreciate the contribution of BP Oman to develop the community in general and the SME sector in particular and we are delighted with the results of the programme so far. We learned that 23 SMEs have received intensive training to improve their business performance. We have received a grant of RO 500 from BP for each SME as an incentive to perform well. Indeed, this is one form of alternative financing options available for SMEs in Oman which we encourage other large corporations to promote as well.” The programme will be executed by Inspired Solutions.

“There is a great interest from entrepreneurs to attend the programme and this proves their interest at growing their businesses. This year we are aiming to have 30 participants from different governorates”, Crew, said

Oman Daily Observer