Sunday 26 / July / 2026
Muscat: The number of enterprises holding the Entrepreneurship Card reached 32,103 till the first half of 2026, while the number of new cards issued during the first half of this year reached 19,267, reflecting entrepreneurs' keenness to benefit from the advantages provided by the card.
The SMEs Development Authority (Riyada) works on providing the Entrepreneurship Card as one of the key tools supporting small and medium enterprise owners, as it enables holders to benefit from numerous facilities and advantages offered by government and private entities.
Throughout the first half of 2026, Riyada continued executing its plans aimed at strengthening the entrepreneurship environment by launching and implementing qualitative programs and initiatives that contributed to supporting SME owners and empowering them to grow their enterprises, alongside developing delivered services in line with the targets of Oman Vision 2040 across all governorates of the Sultanate of Oman by activating the competitive advantage of each governorate.
The sector witnessed noticeable growth, as the total number of small and medium enterprises in the Sultanate of Oman reached approximately 267,535 enterprises by the end of 2025, according to statistics from the National Centre for Statistics and Information. Of these, 136,459 enterprises were registered in Riyada's database by the end of the first half of 2026, divided into 116,195 micro enterprises, 19,196 small enterprises, and 1,068 medium enterprises, with their total contribution to the gross domestic product reaching 9.2 billion Omani Rials, accounting for 21.8 percent.
The Authority continued developing the incubation ecosystem by providing a supportive environment for emerging projects and small and medium enterprises, contributing to transforming entrepreneurial ideas into projects capable of growth and sustainability.
During the first half of this year, 132 new incubation contracts were signed across several economic sectors, and 16 incubators were opened, contributing to providing 284 job opportunities.
The Authority also continued supporting general and specialised business centres targeting promising sectors—including e-commerce, financial technology, creative industries (including craft industries), manufacturing industries, in addition to the logistics sector and services linked to economic and special zones—in partnership with several government and private institutions to enhance the innovation environment and expand growth opportunities for SMEs. The graduation rate from general and specialized entrepreneurship centers during the first half of 2026 reached 14.5 percent.
The Authority continues to provide specialized advisory services aimed at assisting SME owners in developing their projects and improving their performance by offering suitable solutions across administrative, financial, legal, marketing, and technical domains.
During the first half of the year, the number of advisory beneficiaries reached 10,832, encompassing legal, financial, administrative, and marketing consultations, alongside specialised consultations in other fields.
Riyada also continued supporting project owners by preparing and reviewing economic feasibility studies, as the number of beneficiaries from workshops on preparing economic feasibility studies reached 6,113 during the first half of this year.
Furthermore, Riyada continues empowering technology- and innovation-based startups by developing capacities, facilitating access to finance and investment, and enhancing the supportive legislative environment for this sector.
The programme comprises three main pillars: capacity building, funding and investment, and developing the legislative environment, contributing to creating a stimulating environment for startup growth.
The number of registered enterprises holding the Startup Card during the first half of 2026 reached approximately 321 enterprises, while the number of beneficiaries from workshops disseminating the culture of entrepreneurship, startups, and innovative financing mechanisms reached 17,755 enterprises.
The Entrepreneur Readiness Programme continued its role in developing entrepreneurial and managerial skills for SME owners and preparing them to meet labor market challenges and enhance the sustainability of their projects.
The program targets aspiring individuals wishing to establish new projects, as well as existing enterprises, through foundation and enhancement tracks that focus on skill development in administration, marketing, finance, legislation, feasibility studies, innovation, and modern technologies.
During the first half of the year, the number of participants in the program reached 8,200 trainees, of whom 7,601 received the Entrepreneur Readiness Certificate.
The Small and Medium Enterprises Development Authority (Riyada) also continues its efforts to support artisans and craft enterprises by providing support programs and facilities that contribute to developing craft products and raising their production efficiency, alongside streamlining support procedures via electronic services.
During the first half of the year, the total value of craft support approvals reached OMR4,209,013. The Authority received 8,394 applications, approving 3,469 of them based on beneficiaries' actual needs for equipment, supplies, and machinery.
The total number of craft training programs offered by the Authority during the first half of this year reached 86 programs, with total beneficiaries reaching 1,828.
The Authority, in cooperation with the Development Bank, continued implementing financing programmes directed at small and medium enterprises, helping empower them to expand and enhance their sustainability.
These programs include financing local in-country value (ICV) projects, industrial projects, commercial franchising, working capital, and incubated enterprises, alongside the "Damin" (Guarantor) program, which aims to facilitate SME access to finance.
During the first half of this year, the Authority received 555 financing applications with a total value of OMR48,928,711.
The Authority continues developing its digital ecosystem to streamline procedures and raise the efficiency of services provided to entrepreneurs through the electronic services portal, website, and entrepreneurship system.
The digital system offers an integrated suite of services, including issuing and renewing the Entrepreneurship Card, applying for advisory services, training programs, and incubation services, and tracking requests electronically, in addition to updating enterprise data and displaying their products and services on the platform.
The Authority's website also continues to provide comprehensive content in both Arabic and English, comprising electronic services, programs and initiatives, and legislation regulating the SME sector, alongside introductory information and supporting services, thereby enhancing ease of access to information and supporting digital transformation in the sector.
Riyada also works on marketing and promoting SME products and services, creating partnership opportunities for their development and qualification to boost their competitive and innovative capabilities, and offering support in building corporate identity for SMEs and startups through participation in domestic and international events and exhibitions. Up to the first half of this year, the Authority participated in 37 international exhibitions and 438 local exhibitions, with 28,275 enterprises benefiting from marketing programs and events, while 1,045 enterprises benefited from e-commerce.
The Omani Craft House serves as an outlet and platform gathering Omani products under one roof, encompassing 238 enterprises and showcasing 2,448 products across 8 craft categories. This enables SMEs and artisans to reach a broader customer base and bolster their market presence. The number of Omani Craft House branches reached 6, all linked to the digital platform, enhancing the market reach of craft products, boosting their competitiveness, and turning crafts into sustainable opportunities.
Riyada seeks to ensure that SMEs obtain business opportunities from procurements, contracts, and services within in-country value (ICV), in coordination with relevant entities. It works on developing local SME suppliers in innovative industries for ICV initiatives and studying and analyzing investment opportunities arising from the ICV supply chain. Total business opportunities up to the first half of this year reached 2,176 opportunities, while the number of beneficiaries from the supplier development program reached 4,312. Additionally, the "Tas'eed" programme contributed to the transition of 296 small enterprises to medium enterprises, and 45 medium enterprises to large enterprises, following evaluation against precise and objective criteria, as part of efforts to support enterprise growth, enhance market sustainability and competitiveness, and expand their contribution to the national economy.
The results achieved during the first half of 2026 reaffirm the ongoing efforts of the SMEs Development Authority to develop the entrepreneurship ecosystem through executing qualitative programmes and initiatives that respond to entrepreneurs' needs, promote SME growth, and elevate their capacity for innovation and competition, supporting sustainable economic development targets and bolstering this vital sector's contribution to the national economy.
