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Sharakah, the Omani Fund for Development of Youth Projects has been established in 1998 with the aim to offer Financial support and guidance to SMEs, help build local entrepreneurial capability, advocate policies related to the SME sector and spread more awareness about entrepreneurship.
Sharakah has supported more than 186 SMEs all over Oman and in different sectors. We have spent OMR 6.06 million in SMEs support. Our objectives remain in ensuring the sustainability of the businesses we support and creating employment opportunities. Therefore, we have developed several tools and mechanisms to ease the process of evaluating projects. Amongst these tools is Risk Assessment Tool, which gives an insight into the risk associated with each prospective business, in turn a mitigation strategy is drawn. We have also developed a tool to monitor the performance of the businesses we support by evaluating 7 key functions. We have also developed Financial Analysis Tool that allows us to understand project profitability, payback period and other significant financial ratios
• Consultancy Services: More than 96 projects have been provided with the Consultancy services with a 360 degree assessment followed by clear Development Plan
• Workshops: Sharakah provides workshops with the purpose of improving the skills of current and prospective Entrepreneurs. The workshops "Dynamic Entrepreneurship" and "Calculate it Right" has benefited more than 2,600 participants.