Sharakah signs deal with Riyada

Times of Oman - - MARKET - Times News Ser­vice

MUS­CAT: A co­op­er­a­tion agree­ment was signed be­tween the Pub­lic Au­thor­ity for the De­vel­op­ment of Small and Medium En­ter­prises (Riyada) and Fund for De­vel­op­ment of Youth Projects (Sharakah) early this month to con­duct an as­sess­ment of 10 se­lected SMEs. The ob­jec­tive is to iden­tify each small and medium en­ter­prise (SME) strength and ar­eas which need improvement then work on a de­vel­op­ment plan to im­prove per­for­mance.

“With all the de­vel­op­ment that is hap­pen­ing in the re­gion and the op­por­tu­ni­ties that are emerg­ing with up­com­ing mega projects like Expo 2020 and World Cup 2022, we be­lieve that Omani SMEs have a great op­por­tu­nity to ex­pand be­yond lo­cal bor­ders. How­ever, to do so, they need to have a solid ground to grow and they need to im­prove the qual­ity of their ser­vices and prod­ucts,” Khalid Al Haraibi, act­ing CEO of Riyada, said.

“This project will as­sist SMEs to get a thor­ough anal­y­sis of their per­for­mance and help them iden­tify ar­eas that needs improvement while cap­i­tal­ize on strong ar­eas. We are de­lighted to part­ner with Sharakah as they have proven to be ex­perts in guid­ing small and medium en­ter­prises at growth stage given their im­pres­sive track record,” he added.

The 10 small and medium en­ter­prises will be se­lected in this pro­gramme based on cri­te­ria that are mostly look­ing for busi­ness own­ers who are com­mit­ted to growth.

“It is a plea­sure to col­lab­o­rate with Riyada in this pro­gramme. One of Riyada’s ob­jec­tive is to help SMEs grow so that they can con­trib­ute to­wards so­cioe­co­nomic de­vel­op­ment. We be­lieve that this pro­gramme will pave the way for that. We will em­ploy a tool that we have de­vel­oped called ‘Busi­ness Per­for­mance Mon­i­tor­ing Tool’ or BPMT for short,” Su­laiman Al Mahrizi, deputy gen­eral man­ager for de­vel­op­ment, Sharaka, said.

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