Oman ranks 8th in global entrepreneurship index
Oman's entrepreneurial ranking has climbed rapidly in recent years, from 38 in 2022 to 11 in 2023, highlighting the impact of government policies and private sector partnerships in supporting startups and small and medium enterprises (SMEs).
The National Entrepreneurial Context Index score, which measures quality of the entrepreneurial environment, has steadily improved from 4.1 in 2021 to 5.7 in 2024.
For the first time, all 13 of Oman's framework conditions – which assess factors such as market access, infrastructure and education – are rated as sufficient or better.
Ten of these conditions improved over 2023, with the biggest increase in Ease of Entry: Market Dynamics, which rose from 5.8 to 6.8. However, Physical Infrastructure and Social and Cultural Norms received slightly lower ratings compared to last year.
Oman ranked fourth among 56 economies for Entrepreneurial Education in Schools, fifth for Market Dynamics and sixth for Entrepreneurial Education Post-School. However, it placed 32nd for Physical Infrastructure. Access to entrepreneurial resources for women, while still relatively low at 4.3, has improved from 2.8 last year. Meanwhile, sustainability initiatives among new businesses received a 6.1 rating, though slightly down from 6.6 in 2023.
Authority for Small and Medium Enterprises Development (ASMED) has played a key role in advancing Oman's entrepreneurial ecosystem. In collaboration with public and private sector partners, ASMED has implemented legislative reforms, investment incentives, and expanded financing options through Development Bank and Oman Future Fund, which have invested in emerging businesses.
Oman has also prioritised entrepreneurial education and skills development by including specialised training programmes in schools and universities. Business incubators, accelerators and enhanced digital infrastructure have further strengthened the ecosystem.
According to Halima bint Rashid al Zaria, Chairperson of ASMED, the ranking underscores Oman's commitment to creating a supportive environment for startups and SMEs. 'This achievement is a result of strong collaboration between the public and private sectors and the effectiveness of policies designed to foster innovation,' she said.
She added that entrepreneurship remains a key pillar of Oman's economic diversification strategy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
4 days ago
- Observer
‘Our Pioneers in Dhofar' campaign kicks off
SALALAH: For the third consecutive year, the 'Our Pioneers in Dhofar' campaign has returned, reinforcing Riyada's commitment to empowering small and medium enterprises (SMEs) across Oman. Launched as part of the Khareef Dhofar festivities, the campaign aims to strengthen the role of entrepreneurs and elevate their economic contributions during the peak tourism season in Dhofar. Organised by the Authority for Small and Medium Enterprises Development, the initiative serves as an integrated platform that combines empowerment, education and marketing. Running throughout July and August and continuing into early September, the campaign spans various key locations in Dhofar Governorate. This year's edition features a wide range of activities, including introductory meetings, specialised workshops and training programmes. Notable events include pre-qualification sessions for institutions in the security and safety sectors, an orientation on the 'Mahal' programme, an Oman Exports workshop and collaborative sessions with Omantel. Open marketing spaces for entrepreneurs are also a central feature - such as the SMEs corner in the Al Hafa Beach Market and the Oman Oil Bazaar. The Future Pioneers Camp further enhances the campaign by equipping aspiring youth with leadership skills and business readiness. By participating in the khareef season, SMEs gain a strategic platform to promote their products, engage directly with consumers and expand their local market presence. The broader aim is to position SMEs as key players in national economic growth and innovation. Highlighting its support, the Authority has waived registration fees and commissions for SMEs using dedicated marketing outlets. These include the newly launched Omani Crafts House, offering a direct sales platform to help boost visibility and revenue for local businesses and artisans. With continued collaboration between public and private sectors, the 'Our Pioneers in Dhofar' campaign reflects an integrated vision - using the vibrancy of khareef as a springboard for entrepreneurial success and sustainable economic development in the governorate.
Observer
27-07-2025
- Observer
Khareef Dhofar opens new horizons for SMEs
Muscat, July 27 Intense efforts are being made to develop, advance and support Omani youth to promote sustainable development through the participation of small and medium enterprises (SMEs) in the Dhofar Khareef season. Coinciding with the Dhofar Khareef season, the Authority for Small and Medium Enterprises Development seeks to highlight the contributions and innovative experiences of Omani projects and active SMEs across the various Dhofar Khareef locations, as they serve as visitor attractions and contribute to creating a unique tourism experience for the season. SMEs are participating in the Dhofar Khareef season to showcase their diverse products and services, opening new horizons for direct marketing and strengthening their presence in the local market. The Sultanate of Oman seeks to enhance the role of SMEs in supporting the national economy by empowering entrepreneurs and expanding their reach to a wider segment of visitors and consumers, in addition to highlighting their creativity in events accompanying the khareef season. Dr Ahmed bin Mohsen Mohammed al Ghassani, Chairman of Dhofar Municipality, emphasised that the Khareef Dhofar Season 2025 devotes significant space to supporting Omani small and medium enterprises. This will enable Omani business owners to showcase their products to visitors, enhancing growth opportunities and highlighting the local character of the tourism experience. The work assigned by Dhofar Municipality to SMEs increased by RO 6.5 million by the end of the third quarter of 2024, compared to approximately RO 4 million in 2023. This growth in SME participation in Khareef Dhofar reinforces the partnership and integration approach between the Authority, government institutions, and the private sector in Dhofar Governorate, to continue efforts to stimulate and support the sustainable growth of SMEs in various events and activities held in Dhofar Governorate. The number of entrepreneurs benefiting from the activities and services provided by the event sites during the Khareef Dhofar last year 2024 reached approximately 328 business owners, both male and female. The activities implemented during the various tourism seasons also provided a range of temporary job opportunities for many SMEs and productive families in the governorate. Dhofar Municipality also provides ongoing support to SMEs throughout the governorate's various tourism seasons to strengthen their position in stimulating the tourism sector and support job seekers seeking to operate public sites and parks during the governorate's various tourism seasons. The khareef season in Dhofar Governorate represents a great opportunity to stimulate commercial and economic activity, contributing to strengthening and supporting the local economy, greatly benefiting businesses and society, and achieving sustainable development in the governorate.
Observer
22-07-2025
- Observer
Supervision programme launched for Omani start-ups
MUSCAT: The Omani Start-up Accelerator has launched the 'Supervision and Follow-up' programme - an initiative designed to support the sustained growth of emerging start-ups across the Sultanate of Oman. Targeting start-ups that have graduated from the accelerator or hold the official 'Start-up Card' issued by the Authority for Small and Medium Enterprises Development (ASMED), the programme will run from July 2025 to January 2026. It offers a robust six-month support system tailored to guide start-ups through their critical early-growth phase. The programme delivers a wide array of integrated services, including specialised advisory sessions covering financial management, legal compliance and business model development. It also enhances technical readiness and market access, equipping start-ups to confidently scale into regional and international markets. 'This programme is a strategic extension of our efforts to institutionalise start-up growth in Oman,' said Qais al Toubi, General Supervisor of the Rising Omani Start-ups Programme and Deputy President for Finance and Investment. 'It delivers hands-on, targeted support to help start-ups overcome sector-specific challenges, build investment readiness and grow in line with Oman Vision 2040.' The initiative also facilitates participation in entrepreneurship exhibitions and investment conferences, provides fully-equipped office spaces and organises regular networking sessions with investors and sector experts - ensuring that start-ups receive holistic support. A key feature of the programme is its active monitoring mechanism, which tracks each start-up's growth trajectory, ensuring that clear milestones are achieved throughout the supervision period. The initiative is a joint effort between ASMED and Madayn, through its enabling arm, the Industrial Innovation Academy, reflecting a national commitment to building a globally competitive start-up ecosystem. By enhancing investment readiness and enabling expansion into new markets, the 'Supervision and Follow-up' programme is expected to empower Omani entrepreneurs to take their ventures to the next level - contributing positively to the diversification and resilience of the national economy.
