Tejarah Talks digs into Economic Gardening
KEY FOCUS: NURTURING AND CULTIVATING STAGE II OMANI COMPANIES
MUSCAT: Organised by Oman Business Forum in partnership with the Ministry of Commerce, Industry and Investment Promotion (MOCIIP), Tejarah Talks will host a session titled “Economic Gardening: Nurturing & Cultivating Second Stage Companies,” 7:30pm Tuesday, April 30, 2024, at Oman Convention and Exhibition Centre (OCEC).
Economic Gardening was first pioneered in Littleton, Colorado in the late 1980s where it focused on providing strategic information to help local secondstage businesses grow and create jobs. It emphasised technical assistance like market and industry intelligence, search engine optimisation and social media marketing which enabled growth-oriented companies with between 10 to 99 employees make strategic decisions. The success seen in Littleton, with a 71% increase in employment and a tripling of the city’s sales tax revenues without resorting to incentives or tax breaks has led to the adoption of similar Economic Gardening programmes across the US and Europe.
As an example, Florida’s Growfl initiative has created in excess of 10,000 new jobs, contributing over US$900 million to the state’s economy, increasing state and local tax revenues by nearly US$82 million. Growfl’s cost efficiency has also been highlighted, showing that for every dollar of public investment there was a return of US$9.
Sowing the seeds for discussions between panellists Pankaj Khimji, Adviser for External Trade and International Cooperation, MOCIIP; Hussain al Lawati, CEO, Development Bank; and Masoud al Rawahi, Co-founder & Partner, Phaze Ventures will be moderator Jamal al Asmi, Executive Producer, Realitycg.
According to Maymuna al Adawi, Director, Oman Business Forum & PPP Office, MOCIIP and Tejarah Talks organiser: “Given the success of Economic Gardening programmes elsewhere we’re looking forward to discussing its application in Oman and how it could support the ambitions of local companies that have the potential to scale-up, create jobs and enhance our global economic standing.” The MOCIIP Director added: “As we work towards building a more prosperous business ecosystem, the insights shared during the Tejarah Talks session will be invaluable. Indeed, engaging with and investing in local enterprises not only fuels entrepreneurship, innovation and economic growth but also fosters a sense of community and sustainability. If you are a business owner, policymaker, academic or simply curious about second-stage company development please come along. Tejarah Talks is open to all and always free-of-charge.” Tejarah Talks is generously sponsored by Jindal Shadeed, Nortal, Apex Transgulf Manufacturing and MHD and supported by Invest Oman Lounge, OCEC, JW Marriott and Omanfm.