Knowledge 02 00031
Knowledge 02 00031
Knowledge 02 00031
1 Institute of Policy Studies, University of Brunei Darussalam, Jalan Tungku Link BE1410, Brunei
2 School of Business and Economics, University of Brunei Darussalam, Jalan Tungku Link BE1410, Brunei
* Correspondence: muzamil.naqshbandi@ubd.edu.bn
Abstract: SMEs are one of the leading solutions for reducing unemployment and poverty and
boosting economic growth. Due to this, the determinants of the survival and success of SMEs have
received increasing scrutiny in recent years. Empirical evidence has been uncovered in different
countries. Enriching this growing body of evidence, this paper explores the internal and external
factors that affect the survival and success of SMEs in the middle eastern country of Oman. We
used a quantitative approach to collect the data by distributing a survey questionnaire among SME
owners and prospective entrepreneurs. The survey was distributed in different industries throughout
Oman. The findings, based on 344 responses, show that for SME survival and success, the education
system needs intervention. Other areas of intervention include transforming Omani business culture,
focusing on managerial skills, and improving the procedures required for establishing a business.
These findings offer vital implications for Oman’s economy and for SME owners. The findings of
this study can help policymakers make the appropriate interventions at various levels to enhance
SME survival and success in Oman. The study also provides insights for existing and prospective
entrepreneurs to bridge the skillset gaps to keep pace with ever-changing market demands.
Keywords: SME sector; small business; SME challenges; entrepreneurship education; culture;
Citation: Ismail Albalushi, K.;
Naqshbandi, M.M. Factors Affecting
entrepreneurship development centers; managerial skills; business establishment procedures; SME
Success and Survival of Small and growth; Oman
Medium Enterprises in the Middle
East. Knowledge 2022, 2, 525–538.
https://doi.org/10.3390/
knowledge2030031 1. Introduction
Academic Editor: Gwanggil Jeon Governments worldwide realize the critical role that small and medium enterprises
(SMEs) play in fostering and strengthening economies. In both developed and developing
Received: 26 August 2022 countries, SMEs are regarded as the economic backbone [1,2]. Unlike big enterprises, SMEs
Accepted: 12 September 2022
are easy to establish and do not require massive resources in terms of large capital to prepare
Published: 14 September 2022
the business location, procure the needed technology or machinery, or attract the required
Publisher’s Note: MDPI stays neutral talent to run the business. SMEs usually require small offices with minimal preparations,
with regard to jurisdictional claims in such as computers and telephone lines, with a limited number of essential employees.
published maps and institutional affil- Recent research shows that SMEs are considered one of the leading solutions for
iations. reducing unemployment and poverty and boosting economic growth [3,4]. SMEs are an
important sector of the global economy, contributing significantly to the gross domestic
product (GDP) and job creation globally [5]. Generating approximately 60 percent of
employment, SMEs have been the key drivers of employment growth [6]. Most importantly,
Copyright: © 2022 by the authors.
SMEs are crucial for the development and growth of the local economy by generating
Licensee MDPI, Basel, Switzerland.
employment, which helps to alleviate poverty [7,8]. Most SMEs often do not require a
This article is an open access article
highly educated workforce with higher education degrees. As a result, SMEs can easily
distributed under the terms and
employ less-educated citizens of a community. This consequently improves their standard
conditions of the Creative Commons
of living and alleviates poverty. Moreover, a flourishing SME sector in a community usually
Attribution (CC BY) license (https://
creativecommons.org/licenses/by/
promotes a culture of self-dependency among the population, rather than depending
4.0/).
on the government and its public sectors to provide jobs and secure sources of income.
Therefore, it reduces the pressure on governmental agencies to create jobs while increasing
the standard of living of business entrepreneurs [9]. At the same time, SMEs are an excellent
opportunity to develop necessary managerial and human resource skills essential in the
marketplace, especially in big enterprises and companies.
According to the United Nations Industrial Development Organization, SMEs form
approximately 99% of enterprises in Japan, 99.7% in Singapore, and 96% in Malaysia.
Universally speaking, 90% of businesses worldwide consist of SMEs that directly contribute
to the employment of not less than 60% of the total global workforce [3]. Moreover, SMEs
contribute significantly to the GDP of the world’s significant economies, such as 90% in
America, 97% in Japan, and 95% in the United Kingdom [3].
However, despite the significant contribution of SMEs to economies worldwide, their
contribution towards the GDP of Oman, a country on the south-eastern coast of the Arabian
Peninsula, is only 20% [10]. Conscious of the importance of SMEs to the economy, the Omani
government has taken multiple steps towards diversification of its economy, which is
primarily (85%) oil-dependent [1]. The government has also been looking for other sources
to boost the economy and find opportunities to reduce unemployment among the youth,
which stands at 13.1% [11]. These efforts have resulted in policies that support the SME
sector and aim at turning it into a robust and efficient participant in the national economy.
As part of Oman Vision 2040, through the National Programme for Enhancing Economic
Diversification (Tanfield), Oman has undertaken measures to realign its focus and diversify
the economy, emphasizing entrepreneurship development [12,13]. While the efficacy of
the programs introduced by the Omani government is still unclear, several studies suggest
that the SME sector in Oman has not yet matured enough. Al Balushi, Locke [14], however,
note that the potential for growth of the SME sector in Oman is tremendous.
SMEs face more impediments that affect their survival than larger businesses [15]. The
SME sector in Oman faces several challenges that can hinder the government’s ambitious
plans for it to thrive. Many internal factors can be identified in Omani SMEs which play a
crucial role in impeding them and forcing them backwards, eventually towards closure.
Ramachandran and Yahmadi [16] highlight that some internal challenges facing SMEs
are related to the capabilities of entrepreneurs and the society they live in, such as a lack
of managerial skills, human resource management skills, marketing strategies, and the
inadequacy of operation management.
On the other hand, external factors also play a significant role in the survival and suc-
cess of SMEs in Oman. Such factors are characterized in Oman’s economic and investment
environment and the extent to which governmental organizations play a role in making
the business environment conducive. These factors play a significant role and include, but
are not limited to, the rules and regulations introduced by the government in facilitating
business establishments [17], and the ease of providing loans to entrepreneurs and different
supporting programs targeting business owners’ capacity development [18].
Against this backdrop, this study examines the factors responsible for the survival
and success of SMEs in Oman. This study focusses on Oman as the Omani government
has recently taken a keen interest in developing entrepreneurship in the country. Several
programs have been launched to facilitate entrepreneurs. Such programs include those
aimed at financing entrepreneurial ventures of the entrepreneurs, providing training and
mentoring, and promoting the products produced by the SMEs. However, as noted above,
several internal and external factors affect the survival and success of SMEs in Oman [19].
Hence, this study focuses on the internal and external factors that determine the survival
and success of SMEs in Oman. Specifically, our study attempts to provide answers to
the following four research questions: (1) How can the government improve the proce-
dures of establishing, funding, and financing SMEs? (2) How can the government and
entrepreneurs overcome challenges related to self-development in terms of managerial
skills and capabilities? (3) How can the education system be improved to encourage an
entrepreneurial culture? (4) How can the government and society promote initiatives
towards self-employment and independence in the SME sector?
Knowledge 2022, 2 527
In answering the above research questions, this research contributes mainly in three
ways. Firstly, the study discovers the difficulties SME owners face in Oman at different
levels. The study examines the challenges that SME owners face and proposes methods
that can be used to overcome such challenges. The study looks at specific challenges, such
as SME owners’ lack of expertise and experience in running a business. Secondly, the study
examines the process and procedures that the Omani government can either incorporate
or improve to make the entrepreneurship experience desirable, especially for the young
generation who represent the country’s future. Lastly, this research will help in policymak-
ing related to improving the procedures of granting funds and support to business owners
(financial and non-financial) from the setup stage until the business flourishes.
In the next section, we present a literature review and the theoretical background. We
then present the methods and procedures used in this study, followed by data analysis.
In the last section, we discuss the findings, recommendations, limitations, and future
research directions.
Fund (SMEF) in 2014, with the objective of developing entrepreneurship and financing
small and medium enterprises in the country [16]. Along with these initiatives, the Oman
government, through the Public Establishment for Industrial Estates, promotes the products
produced by Omani SMEs at various national, regional, and international platforms.
is higher, and the applicants failed to provide collaterals and fulfil other conditions [26].
Loans are typically associated with high-interest rates and short reimbursement periods
that burden business owners and impede steady development in the initial phases of the
establishment [16].
2.3.3. Culture
Omani society shares many cultural features and characteristics with its neighboring
Gulf countries, such as the United Arab Emirates and Saudi Arabia, which, according to
Hofstede [33], score high on uncertainty avoidance, both scoring 80. Sharing the feature
of uncertainty avoidance with their Emirati and Saudi counterparts, most Omanis tend to
depend on the government to provide employment opportunities in the public sector. They
feel reluctant to pursue their future towards entrepreneurship due to the risks involved in
the latter. Consequently, this is directly reflected in avoiding initiatives that can potentially
lead to the growth of the SME sector [34].
financial management, marketing, and operation management. They conclude that SMEs
in Oman face problems as they do not allocate a specific budget for marketing their
products in the local and regional market, and the majority do not conduct any research
and analysis of the market needs and demands [35]. Lack of marketing knowledge results
in failure to attract the attention of the SMEs’ target market since marketing acumen is
essential, particularly in the competitive business environment [26]. Furthermore, many
SME owners are unfamiliar with outsourcing skills that can lead to cost reduction. Bilal
and Al Mqbali [18] further reported that the lack of administrative capabilities and skills
are among the main issues entrepreneurs face, as these skills are essential for the smooth
functioning of their business.
We looked deeper into each of the above dimensions to understand how they affect
SMEs (see Table 4).
enhance their confidence and skills in entrepreneurship. The respondents were almost
unanimous (90.99%) in suggesting that higher education institutions should further their
efforts to introduce non-academic events, such as organizing networking sessions with
successful local entrepreneurs, to inspire and encourage students. Most of the respondents
(91.86%) also supported the idea of having specialized entrepreneurship development
centers on campus to assist and guide students who would like to take the path of private
business after their graduation.
4.1.2. Culture
A detailed examination of the participants’ perception of culture and its effect on the
survival and success of SMEs in Oman revealed that 91.86% of the participants believed that
the education system should be transformed to reduce uncertainty avoidance, encourage
risk-taking, and minimize fear of failure among young generations.
Most of the survey participants (90.40%) also revealed that the negative societal public
perception of those who fail in business for the rest of their lives should be eliminated.
The findings suggest that any failures in entrepreneurship should instead be embraced by
society without stigmatization. Most respondents (92.74%) also emphasized the need for a
national strategy to shift the public attitude away from public sector jobs and more towards
private businesses and entrepreneurship.
Table 4. Support for interventions in determinants of SME survival and success (n = 344).
• The government should develop a strategy to change public attitude away from
92.74%
public sector jobs and more towards private businesses.
Table 4. Cont.
• The enterprise should be obliged to hire competent and qualified staff even in
74.42%
minimum critical positions such as marketing, finance, and HR.
• The measures taken by the government (loans, training, follow-up) are enough,
35.76%
but need more publicity.
• Different schemes of taxes and charges paid by SMEs should be reduced. 86.91%
• Interest rates on loans from finance companies for SMEs should be reduced. 79.95%
• Conditions and guarantees for obtaining loans from finance companies should be
85.48%
less complicated.
• The government should ease some conditions on SMEs, such as reducing the
75.87%
percentage of hiring local workforce.
• The government should introduce more flexible legislation to obtain visas for
76.16%
foreign workers for SMEs.
a large portion of the respondents (88.08%) noted that loan processing by financing agencies
and administrative work related to it should be decentralized. The decisions should be
made at regional levels without going back to the main head offices in the capital, Muscat.
In addition, 79.95% of the respondents stressed that loan interest rates by private and
governmental financing agencies were high and should be reduced to the minimum. A
large portion of the respondents (85.48%) revealed that the conditions and guarantees
related to loans are complicated and impose high demands on SMEs that sometimes
cannot be met. Furthermore, 91.86% of the participants believed that the government
should introduce longer-term loan plans specifically designed to support SME owners to
overcome financial difficulties. Results also show that most respondents (75.87%) felt that
the conditions imposed on SME owners are complicated and should be eased. For instance,
Omanization criteria should be relaxed to allow for hiring a more significant percentage
of the foreign workforce, as engaging the local workforce involves paying higher wages
and benefits, which creates an extra financial burden on SME businesses. At the same time,
76.16% of the respondents stressed that more flexible legislation should be introduced to
grant foreign worker visas to SMEs.
fail; instead, it exerts pressure and blames unsuccessful entrepreneurs for taking the risk
in the first place. Al-Shanfari [36] also acknowledged that Omani culture is one of the
main contributing factors in shaping a negative entrepreneurial mindset among society
members towards not taking initiatives and risks. This societal reaction is a severe cultural
issue that needs to be thoroughly addressed and examined by the authorities in Oman.
Not doing so can impede entrepreneurship from flourishing in the country. Although it is
complicated, difficult to change, and requires an extended timeframe, it is imperative to
make interventions at different societal levels to make risk-taking acceptable and accept
failure as a regular part of the entrepreneurial process.
The third dimension that our study examined is the managerial skills of entrepreneurs.
Managerial skills play an important role in the success of enterprises [38]. The findings
revealed a consensus among the participants that there is a considerable gap between the
administrative skills and capabilities of the business owners and the market demands,
especially in the necessary skills of running organizations. This becomes particularly true
for the entrepreneurs who run businesses for the first time without proper initial training
and poor management background. The extant literature is consistent with this shortfall
among Omani entrepreneurs. One of the causes for this weakness is the lack of best
practices in administrative and vital functions such as human resource management and
filling vacancies with best fits [35]. Furthermore, Al Bulushi and Bagum [35] reported flaws
in the financial asset management of organizations regarding apportionment to different
departments in the short, medium, and long term. The usual practice is that the business
owner, who is the manager in most cases, would make these important decisions on their
own even without any prior experience [16]. Another area of weakness, particularly in
newly established enterprises, relates to the managerial lack of knowledge of the local and
regional market and the best practices for marketing their products [18,39]. In this regard,
the Omani government has taken some initiatives to train entrepreneurs. However, there is
a lack of awareness among business owners about such programs, resulting in many SME
owners not availing the benefits of such programs. This conclusion is supported by the
findings of this study which show a disagreement among the subjects about the sufficiency
of governmental services in this regard. Alqassabi [10] came to the same conclusion stating
that entrepreneurs lack awareness on the available governmental support services.
The fourth factor that our study examined relates to business establishment procedures.
SMEs in Oman are faced with complicated, lengthy procedures that require much effort,
time, and money. Some specific types of business activities require approval from certain
governmental agencies, which can be obtained only in the capital, Muscat. This is time-
consuming since the decisions are made in the capital city and are not decentralized at
the governorate level. Moreover, the financial liabilities for establishing businesses and
taxes associated with procedures such as renewal charges and worker visas are relatively
high and impose an extra burden on business owners. Similarly, access to financing is yet
another area of difficulty facing entrepreneurship in Oman. Entrepreneurs are hassled by
many administrative requirements when applying for loans to governmental or private
financing companies. The conditions to meet many requirements and provide guarantees,
which sometimes cannot be easily met, results in the loans not being granted to the aspiring
entrepreneurs. Decisions on loans are also centralized at the headquarter level of the
respective loan providers in the capital and are not taken at the regional managers level.
Furthermore, loan applicants are faced with more challenges in terms of high-interest rates
that must be met or rescheduled, which adds to their interest burden. The current body of
literature is consistent with these challenges facing entrepreneurs and agrees that business
establishment procedures and loan processing are some of the biggest challenges facing
SME owners in Oman. For instance, Alqassabi [10] cited rules and regulations and access to
finance as among the top five challenges SMEs face in Oman, while Bilal and Al Mqbali [18]
stated that finance and legislation are among the top five obstacles faced by SMEs in Oman.
Knowledge 2022, 2 536
before commencing their businesses. Finally, the government should ease the procedures
of establishing new enterprises and introduce new flexible conditions to financing plans
that provide attractive incentives for business owners. In conclusion, these interventions
can be a good starting point for improving entrepreneurship outcomes in Oman. Some
of these measures (e.g., business establishment procedures) could be applied in the short
term, while others (e.g., the education system) require a long-term perspective.
This study has some limitations. This study relied entirely on a quantitative dataset.
While this per se may not be a limitation, to confirm the findings of this study, we recom-
mend that future studies include qualitative data to understand further the nuances of the
issues raised in this study. Future research may also compare the Omani SME sector to a
prosperous neighboring country that shares a similar culture, such as the UAE [40]. Such a
benchmarking exercise may lead to adopting the relevant policy interventions and avoid
reinventing the wheel.
Author Contributions: Conceptualization, K.I.A.; methodology, K.I.A.; formal analysis, K.I.A.; inves-
tigation, K.I.A.; resources, K.I.A.; data curation, K.I.A.; writing—original draft preparation, K.I.A.;
writing—review and editing, M.M.N.; supervision, M.M.N.; project administration, K.I.A. All authors
have read and agreed to the published version of the manuscript.
Funding: This research received no external funding.
Institutional Review Board Statement: Not applicable.
Informed Consent Statement: Informed consent was obtained from all subjects involved in the study.
Data Availability Statement: Not applicable due to data confidentiality.
Conflicts of Interest: The authors declare no conflict of interest.
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