MUSCAT: Oman’s small and medium enterprise (SME) sector reached 130,359 registered firms by end-December 2025, as the Small and Medium Enterprises Development Authority (Riyada) rolled out a 2026 plan built on more than 700 initiatives and training programmes.
The plan has eight pillars: entrepreneurship culture; SMEs’ regional and global expansion; maximising local content; broader, more innovative financing options; expanding incubators and entrepreneurship centres; developing governorates by comparative advantage; the National Handicrafts Programme; and innovation- and technology-based startups.
Halima bint Rashid al Zaree, Riyada’s Chairperson, said she was “optimistic” the push would lift SMEs’ contribution to GDP. She said ready-made factories—especially for manufacturing and the digital economy—would speed up business launches and employment.
Riyada said Entrepreneurship Card holders totalled 58,388 in the second half of 2025, including 25,986 active cards, representing about 192,714 employees, while the Entrepreneurship Readiness Programme trained 7,453 beneficiaries.
By Q4 2025, it delivered 245 specialised and general training programmes (29,513 beneficiaries), provided general consulting to 9,000 entrepreneurs, completed 5,939 feasibility studies and enrolled 281 in mentorship.
Usufruct approvals for industrial land reached 395 by end-December and 877 plots were offered through the Ministry of Housing and Urban Planning’s development platform. Incentives include nominal annual fees, a grace period linked to business plans and priority access to financing, marketing, training and qualification.
To raise local value added, Riyada said 294 small enterprises upgraded to medium-sized firms and 41 medium enterprises grew into large companies. It enrolled 4,188 enterprises in supplier development and said partnerships generated 2,170 job opportunities. With Madayn, it launched the first 10 ready-made industrial workshops at Nizwa Industrial Area in February 2026.
Riyada said it joined 413 local and international events last year, benefiting 23,794 enterprises, while 608 benefited from e-marketing.
In crafts, 5,813 support applications were approved by end-2025; 7,026 artisans received home-based licences worth RO 4.049 million; and 777 benefited from craft training. House of Crafts outlets opened in Muscat, Dhofar, Musandam and Al Dakhiliyah, registering 175 craft enterprises (112 in Muscat, 54 in Dhofar, 34 in Musandam and 30 in Al Dakhiliyah) and listing 1,744 products online.
Since inception, Riyada has launched 30 business incubators, incubating 137 SMEs, creating 231 jobs and generating revenues exceeding RO 3 million.
For 2026, it aims to finance at least 200 projects. “Al-Azm” loan approvals reached 514 by end-December, totalling RO 44.385 million. Innovation-based startups numbered 205, employing 825 people with a market value of RO 395 million, while workshops on innovative financing mechanisms drew 12,569 participants.
Oman ranked 8th among 56 countries in the Global Entrepreneurship Monitor 2024 entrepreneurship index and was cited among the top 15 for startup growth speed and the top 10 for attracting talent in Startup Genome’s MENA 2023 report.
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