Zubair SEC’s Tajribati session focuses on national budget

Muscat: With an aim to help start-ups plan and take advantage of the opportunities presented by the recently announced national budget, Zubair Small Enterprises Centre (Zubair SEC) organised a ‘Tajribati’ session on the subject for the benefit of its members. The session shed light on the topic “The National Budget and Opportunities for Small and Medium Enterprises (SMEs).”
The main speakers at the January session of ‘Tajribati’, Ahmed Said al Kshoub, Economist and Ashok Hariharan, Partner and Tax Manager, KPMG outlined what was announced in the budget statement and what it means for SMEs.
Highlighting that there have been many positive points outlined in the budget for SMEs, Ahmed Said al Kshoub said, “It was aimed at strengthening the role of SMEs in nation building and creating jobs for Omani youth.”
Al Khsoub elucidated as to how SMEs have received a lot of attention in the 2018 budget. He explained that as per the new budget, there is a good space for SMEs to acquire projects and contracts, which is a significant step. Besides, it has been decided to speed up the payments of SMEs and continue providing credit facilities to SMEs.”
Al Khsoub advised SMEs to have a clear-cut strategy for their business. He said, “Think on the lines of merging with a fellow SME. Through these mergers, it is possible to create large companies in the local market in over five to 10 years.”
The ‘Tajribati’ series serves as a unique platform to connect industry experts with start-up owners and new entrepreneurs to exchange views, discuss common challenges and share best practices. The ‘Tajribati’ session was attended by entrepreneurs, industry consultants and aspiring entrepreneurs.
Expounding the thought behind choosing this topic for the session, Ali Shaker, Business Advisor at Zubair SEC said, “Faced with rising economic challenges, it is important that SMEs are ready to rethink business ideas and innovate to stay competitive. It is therefore vital for SMEs to be as prepared as possible as they look to prosper from the plusses presented in the budget.”