NBAD Oman presents SME Conference to pave the way for Oman’s SME initiatives

Following a highly successful debut in 2015, SME Beyond Borders - Oman returned to Muscat and delivered a clear strategy for the nation’s SMEs to follow.

The core debate focused on how SMEs can meet the challenging demands of the government’s General Budget - and the best ways to build capacity, upgrade personnel skills and aspire to Best Practice.

SME Beyond Borders - Oman, organized by CPI and sponsored by NBAD, was a one-day event bringing together 13 key personalities each well-known for their powerful, expert views on Enterprise development.

Recommendations emerging from SME Beyond Borders included:

  • The need for a greater commitment to Smart styles of working and the role of online technology. Oman’s SMEs need to build capacity via a ‘Connected’ workplace.
  • Access to global markets, breaking away from the traditional local model and broadening the client base - therefore reducing downturn risk.
  • There must be a greater awareness that maximising cashflow and stabilising the business can only be achieved by a clear understanding of business accounts - appreciating how accounting is key to survival in a climate of rising taxation.
  • The urgent need for better dialogue between public and private sectors, so that the issuers of competitive tenders have a more realistic view of SME capabilities. Similarly, the Licensing authorities need to create more job categories better-reflecting modern industry needs.

SME Beyond Borders - Oman will now be taking the conclusions of the event forward as part of core feature content in SME Advisor magazine, and as key discussion points in the forthcoming SME Beyond Borders - Egypt event, taking place at the Ritz Carlton, Cairo, on September 26th.

Country CEO, NBAD, Mohammed Ba Omar, commented that: “Today’s event was especially significant because conclusions on SME strategy were reached by citing actual economic and commercial data, much of which had previously not been seen in the public domain. The speakers were all personally involved in driving SME performance. SME Beyond Borders has once again set the benchmark for fostering innovative solutions for enterprises.”

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