Friday, March 29, 2024 | Ramadan 18, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Refuel your business and courage alike

Omani youth should grab every possible opportunity with both hands especially those interested in setting up their own business. It is only those who can risk going too far can possibly find out how far they can go
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Nobody can undervalue the significant role that small and medium-sized enterprises (SMEs) play in promoting the national economy. Usually, SMEs tend to reflect a country’s new and fast-growing industries, especially when such enterprises are run by young enthusiastic leaders.


Through the SMEs, youth present their responsibility and interest to partake in the nation-building process through their outstanding projects, businesses or enterprises.


One of the significant characteristics of a flourishing and growing economy is having a thriving and prospering small and medium enterprises sector. They play a major role in most economies, particularly in developing countries. SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. Therefore, SMEs are seen as a key element in achieving the “growth” and “employment” targets.


Generally, SMEs are associated with enthusiasm, passion and courage. Economies which discourage SMEs are therefore likely to weaken some new dynamic industries from putting down their roots and enable them to prosper. To some people, SMEs seem to be risky and non-beneficial business; however they highly contribute to the development of the various spheres of economy. SMEs contribute to the economic development in several ways, either by offering employment opportunities for the growing labour force or providing appropriate sustainability and innovation in the economy.


On the local front, many people rely on these SMEs directly or indirectly as a source of income for them. Most SMEs are a kind of personal initiatives run by individuals supported by different funding institutions in the country. Significantly, as long as people pursue their personal interests and dreams, one day they will certainly bring their business ideas to reality and become flourishing firms. All they have to do is to work hard to effectively run such businesses or start-ups all the way from the very beginning until successfully completing them.


However, this requires hard work, patience and persistence like taking the way to achieve all other dreams and objectives. The way to success is always accompanied by different challenges and obstacles, so some, if not most, enterprises come across difficulties that might discourage entrepreneurs to proceed, rather it might urge them to give up. In fact, it is true as the saying goes that it is not because things are difficult that we do not dare; it is because we do not dare, so they are difficult”.


Therefore, enterprises should be backed with courage and commitment in order to achieve its objectives and keep it last for long. Entrepreneurs sometimes should take risk and do not give up when things go the opposite way or they face any particular challenge. Many entrepreneurs stop their business just post experiencing the first failure or problem. Hence, they do not dare to try one more time and refuel their energy. Probably, such entrepreneurs need to believe in and recall the “No Pain, no gain” principle every time they are on a slump!


In a bid to encourage SMEs in the Sultanate of Oman, the government along with some private bodies accorded a special attention to the development of the sector. These collective efforts are aimed at helping the SMEs sector to play its key role in the country’s economic development. Financial loans to fund SMEs and necessary business consultations are offered to provide effective solutions to key challenges faced by SMEs. Most of those establishments initiated special funding programmes dedicated to fund and support such enterprises.


In this regard, Omani youth should grab every possible opportunity with both hands especially those interested in setting up their own business. It is only those who can risk going too far can possibly find out how far they can go. Entrepreneurs have to remember in order to win you have to take risk. Thus, they shall never say die to their dream business, which might come true someday. Wherever you see a successful business, it is the result of someone once made a courageous decision.


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