INSME Member from the Sultanate of Oman, Sharakah (The Fund for the Development of Youth Projects) has reached an important milestone this year: on the 8th of November the Fund turned 20 years of supporting the Omani SME sector.
Since 1998 Sharakah has been encouraging and facilitating new business formation by providing help and advice to many Omani entrepreneurs as they start and build their businesses, as well as financial assistance to many companies, helping them turn their business ideas into successful and profitable ventures. Since their establishment, they have supported more than 186 SMEs all over Oman and in different sectors and spent OMR 6.06 million (ca. € 14 million) in SMEs support with the objective of ensuring business sustainability and creating employment opportunities. They have developed a diversity of tools to improve a business performance, among them: the Risk Assessment Tool, which gives an insight into the risk associated with each prospective business, producing a mitigation strategy; the Business Performance Monitoring Tool, a performance measurement tool which verifies if there has been any improvement in the business over a specified timeframe; the Financial Analysis Tool that allows to understand project profitability, payback period and other significant financial ratios.
To learn more about the services offered by Sharakah, please click here.