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Room , A7 building, No. Customs Data. E-mail Hunting. Jungle Scout. We have spent OMR 6. Our objectives remain in ensuring the sustainability of the businesses we support and creating employment opportunities. We also delivered 26 workshops titled "Dynamic Entrepreneurship" to more than beneficiaries and 44 "Calculate it Right" workshops for participants in cooperation with BP Oman and the National Finance Company.

A cooperation agreement was also signed with the Public Authority for SME Development Riyada to evaluate the performance of 10 projects and draw a plan to improve their performance. In the past few years, many events have been organized to highlight the role of Sharakah in SME development, notably, Sharakah Forum which was held in December The following is the excerpts from an interview with Abdullah Al Jufaili, the General Manager of Sharakah speaking about Sharakah and its achievements in the last 20 years.

Sharakah was incorporated in , the actual operations started towards the end of The objectives have always been supporting SMEs, contributing to economic diversification, and creating jobs for locals. Our support for SMEs takes the form of three types of service. One is the promotion of the spirit of entrepreneurship across Oman, in addition to championing successful entrepreneurs.

The second involves financial support, itself comprising three schemes: an equity scheme, a bill discounting scheme, and a loan scheme. The third is consultancy service. Sharakah went through various stages, since inception. SMEs and entrepreneurship development sector was still in its early development in The number of initiatives that supports entrepreneurship development have since increased.

Both private and public sector organizations are playing a key role in SME development. The underlying objective is to leverage on the skills and capabilities of Omanis and help create an economy that is less dependent on Oil and Gas sector.

One is the promotion of the spirit of entrepreneurship across Oman, we deliver seminars and workshops to existing business owners and those who are aspiring to become. We also offer up to OMR , in terms of financial support. Our intention is to see SMEs grow and expand not only locally but regionally as such we offer a basket of consultation services to our existing clients. Sharakah passed through various stages during its inception where it first started by providing support through equity financing.

We further introduced consultancy services to ensure the success of the businesses we have financed. Over the year our fund limit per project grown from OMR , to , The focus in the past few years has been on the manufacturing sector and innovative projects. Sharakah would not have been able to accomplish what it has accomplished without the support and collaboration of other organizations.

The network has members in 65 countries worldwide and it offers us an opportunity to exchange knowledge and expertise with other entrepreneurship development organizations. Our most renown business cooperation is with BP Oman. During these 4 years, we have provided consultation services to 86 SMEs. Further, we have worked with Riyadah to evaluate the performance of 10 SMEs and advised them on how to improve.

One of our main objectives is to support the government strategy to diversify economic income sources. We will continue to ensure that our role does not end by just helping an SME to start, but there is a more important role in helping them to sustain and grow. We seek through these workshops to spread awareness about entrepreneurship amongst students and to build their skills to enable them managing their businesses effectively and efficiently should they choose to take that option.

We aim from the workshop to help overcome the common mistakes that many entrepreneurs usually make when it comes to business financial projects. Ishraqaat is a handicraft workshop that makes Omani Khanjars,Silver and Gold ornaments, antiques and gifts. Nadia soon realized that she is passionate about working with silverware and decided to set up her own workshop at home. She later registered the workshop as a homebased business and started expanding. Nadia got a significant amount of exposure through PACI.

She received many opportunities to exhibit her products locally and internationally. Nadia received several awards as a recognition of her work including Sultan Qaboos Craft Excellence Award in and , AlRoya Newspaper award for the crafts industries, and the international Craftsman Excellence at the Asia-Pacific level in In appreciation of being selected in the project Nadia said "I am very thankful to BP Oman and Sharakah for giving me the opportunity to be part of the khazzan project which I believe had a positive impact in the progress of my business.

I have been evaluated by experts who were able to identify and advice the areas of improvement and development. I got great assistance to track the financials of my project and plan properly for current and expected financials and non-financials targets. I am happy to say that today I am ready to develop my project and take it the next level. Small company Excited to have Achieved a Major Milestone. Hamed and AbdulAziz identified a need in the market for maintaining the hygiene of residential water tankers.

There are excited that since the beginning of this year they have managed to clean water tanks. There plan is to clean water tanks by the end of Hamed Al Hasani, Cofounder of National Strategy Company excited about the achievements said "The company was established in with the aim of providing services to residential building of cleaning and sterilization of water tanks and connecting water pipes.

Our objective is to maintain clean water supply for household which in turn affects the health and wellbeing of individuals in the community. NSC received a thorough analysis of its operation to identify areas of strength and improvement. As a result, an action plan was developed. One of the core services provided by NSC in addition to cleaning tanks is the supply of pipes and connecting water networks. The company is registered with the General Authority for Electricity and Water and provides measuring devices for water treatment along with services related to the disposal of hazardous waste.

The National Strategy Company aims to raise local awareness and invite companies to contribute to supporting NSC services that positively affect the health of individuals and society as part of its corporate social responsibility. This has led to increasing production and improving operation standards. Five Oceans was established in In it completed the requirements to apply the Hazard Analysis and Critical Control Points HACCP , a systematic preventive approach to food safety from biological, chemical, and physical hazards in the production processes.

The past 3 years in particular have been very successful for Fie Oceans. We have worked on improving the quality of our products, expanding the market reach and introducing new line of business. We are looking at expanding our operations in Oman by establishing a second factory in the Governorate of Al Wusta. His dedication towards success is unparallel. Given the success that he has made in his entrepreneurship path, he has been requested to mentor many startups. We are delighted to read news about his achievements and honored that he selected to partner with Sharakah.

Wijdan Center introduces Series of mental Health Sessions. The sessions were attended by the center members along with life coaches who are field experts. The idea of the center is to combine both body fitness and Spa services. The center started operations in April and has been welcoming an increasing number of members since its establishment.

We are thankful to the support provided by Sharakah since inception. The owners of the center approached Sharakah in to get financial support for setting up the center. The fitness part of the center focuses on offering variety of classes according to a monthly plan that is updated frequently.

The center offers a diverse set of classes targeted to ladies in accordance to their needs. They include classes in Zumba, Yoga and swimming. In addition to that, the center offers specialized classes that are targeted to specific segments like pregnant women and kids. Mindfulness and meditation sessions are yet to continue with more themes that brings women together to tackle critical topics.

The system is being used by many private schools across Oman. The school strive to maintain high ethics and good quality educational standards. Over the years, the school has grown and gained the confidence of the parents in Willayat Saham. The school underwent an assessment to identify areas that needs improvement.

That was followed by an action plan and consultation offered by Sharakah. The plan included preparing financial statements, developing marketing plan and overlooking the best practices in the education industry. To do so, we are continuously on the lookout for opportunities to improve. In we signed a contract with Tayyar Systems to implement the Electronic Supervisor applications in all our school buses.

This makes us the first school to implement this system in Saham. This will enable us to expand our market and reach out to students from all towns in Saham. Signing collaboration agreement to establish cooking gas filling plant in Musandam. The factory will be located in Khasab on a 2, square meter land. The infrastructure development of the factory is ongoing and expected to be completed by the end of this year.

The factory will provide the basic needs of homes and other establishments for cooking gas for Willayat of Khasab and Bukha. The factory is considered new addition to the services projects available in Musandam. The factory is owned by Bukha for Improvement and Development LLC which is established by passionate entrepreneurs from Musandam and they aim to be an effective part of the economic and social development of Musandam Governorate.

These workshops are aimed at making business owners better understand how to calculate project cost, sales assumptions, required resources, operational expenses and the cost of capital. We believe in enlighten our students about the leading sectors in the market, SME sector is one of them.

The workshop was delivered by Mr. In many cases we have seen that sales assumptions are presented incorrectly and unrealistically. National Finance Company is a leading finance company in the Sultanate of Oman.

Established in , and headquartered at Muscat, it has 12 branches across Oman and offers a wide range of leasing, credit and other products to corporate and retail customers with a focus on SMEs. These workshops enable us to connect with SMEs to broaden our understanding of their needs and different challenges they face.

Where it shows commitment towards enhancing the level of professionalism in their business practices in general and in the efficiency of resources allocation in particular. Calculate it right workshops series will be held across Oman in cooperation with National Finance Branches. The link to the registration form and further instruction will be available on social media account of Sharakah and National Finance.

Sharakah Annual General Meeting Held. The meeting was presided by Mr. He congratulated all the shareholders for completing 20 Successful Years. And shared some of the achievements over the years including: Sharakah has proven to be a successful model by being able to self-sustain.

He added that this increase is due to expanding the consultation services offered by Sharakah. Indeed, there has been an increase in the demand for such services. Hani concluded by sending a cable of appreciation to His Majesty the Sultan for his guidance and for placing greater emphasis on the development of Omani Youth and driving them towards community and economic development. National Finance Company received positive feedback regarding the previous workshops and there is good demand from community members across Oman to attend the workshop.

We are taking into consideration the suggestions we received in the previous workshops to enhance the workshop outcome. Indeed, we have taken this as an opportunity to connect with SMEs all across Oman and introduce them to our services. Such workshops enable the SMEs to work on their soft skills which in turn leads to positive impact on their business performance.

The workshop welcomed those who have an interest in staring their own business and those who existing businesses alike. This will empower them to set their business on the right track from the beginning and help them avoid common mistakes such as overestimating sales or underestimating expenses and risk.

We ensure that any services needed like photography and catering is done by local companies themselves. It covers the basis of starting a business, the financial requirements, the methodology of arriving at sales assumptions keeping in mind the required resources, the mechanism of arriving at product or service price, and the market factors that would affect sales.

Business plans in general are built on unrealistic assumptions, therefor this workshop comes to help them to understand the basis of establishing a business and we hope that they will apply the knowledge learned in the future. One of our objectives is to help spread more awareness about entrepreneurship which in turn will impact positively on the local economy and the society. This workshop will assist the students in the future to set a business plan on the right track from the beginning and avoid overestimating sales or underestimating expenses and risk.

The workshops will continue over the next few months and will be delivered in various locations across Oman. Calculate it Right at Nizwa Cultural Center. It aims at increasing awareness about the basis of starting a business and the importance of financial planning. It covers the methodology of calculating capital requirements for any business, cost of finance, predicting sales assumptions, understanding the resources needed to run a business and the factors that could affect sales assumptions.

The workshop received positive response from the participants as it was presented in an interactive manner and used a real case study to explain the basis of proper business planning. Accordingly, we start with easy and simple exercises then gradually introduce real case studies.

Indeed, the participants appreciate that we further offer an opportunity to discuss their business cases. The 1-day workshop covers the basis of starting a business, the financial requirements, the methodology of arriving at sales assumptions keeping in mind the required resources, the mechanism of arriving at product or service price, and the market factors that would affect sales.

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