Sharakah is delighted to collaborate with BP Oman in implementing a program specifically dedicated to SMEs growth. Sharakah’s expertise in SME development is proven by a track record of supporting more than 55 projects over the past 5 years, 30% of which have fully settled their dues and continue to perform well, 67% are still active with Sharakah.
The project consists of evaluating the performance of 20 local SMEs, identifying areas for improvement and providing them with a detailed report of how they can upgrade their operations and make their business more sustainable while following the best practices. To do so, Sharakah will deploy its industry certified tools including Risk Assessment Tool (RAT), Financial Analysis Tool (FAT) and Business Performance Monitoring Tool (BPMT).
Project Goals and Objectives
1. To help the development of local communities
2. Contributing to Oman’s socio-economic growth
3. Increase the number of jobs created through Local SMEs
4. Help elevate the performance of existing small businesses by assessing their current performance and propose areas for improvement
5. Build the capacity of locals in various fields including finance, marketing and branding
6. Complement existing initiatives that provides support to SMEs
7. Add quality and value to the existing programs
Benefits and Value
SMEs will get a thorough analysis of their business and get suggestions for improvement. This will help them operate better and increase their efficiency. The SMEs would also learn how to develop their annual budget, prepare a marketing plan and analyze their financial status. Basically, they will have a great opportunity to improve their business performance.