Funding opportunities for SMEs in spotlight

Staff Reporter –
Muscat, June 18 –
The National Business Centre (NBC), an initiative of the Public Establishment for Industrial Estates — Madayn, organised on Tuesday an event entitled ‘Attraction of Investment and Funding’ at the Knowledge Oasis Muscat. The event, which was held as part of Reyooq series of discussion sessions, highlighted the various funding mechanisms available in the entrepreneurship system, how to access them, and the related challenges. Speaking at the event, Yousuf al Harthy, CEO of Oman Technology Fund, said that investment in emerging technology related companies enhances access to new markets and contributes to the launch of innovative services and creation of employment opportunities.
“It is important to develop a feasibility study for any project. The future cash flows expected from the project has to be also taken into consideration in order to avoid any stumbling incidents,” said Hamad al Harthy, head of small, medium and micro financing and portfolio management at Oman Development Bank.
Ibtihal al Riyami, director of customer relations at SME Development Fund (Inma), elaborated on the fund, which was established in 2014 as part of an initiative of the Omani Authority for Partnership for Development, to encourage entrepreneurship in the country.