BP Oman signs agreements to develop 30 SMEs, 300 individuals

The project aims to develop the employment landscape among enterprises and entrepreneurs, which will in turn expand Oman’s in-country value and support a diverse economic growth through co-creating sustainable values.

Muscat: As part of BP Oman's social INVESTMENT programme, ebda enterprise aims to develop opportunities for more than 30 small and medium enterprises (SMEs) and 300 individuals by the end of the year.
Ebda enterprise focuses on the development of enterprises by targeting start-up businesses, providing business planning, and assisting with FINANCING to sustain enterprises' national and regional growth.  

The project aims to develop the employment landscape among enterprises and entrepreneurs, which will in turn expand Oman's in-country value and support a diverse economic growth through co-creating sustainable values
In this regard, Sharakah signed agreements with four partnering companies at the Public Authority for SME Development on Wednesday. They include Inspired Solutions, Lighthouse, BusafiDesigns and Bayantebyan. 

"The social INVESTMENT programme aims through these partnerships to co-create sustainable values that leave a positive impact on the community and for the country. These projects are based on a model, where upon successful completion, partners will be able to establish, build, design for growth and assess meaningful community projects," said Khalid Al Haribi, the social investment manager of BP Oman.

As associate implementing partners in ebda enterprise, BusafiDesign will conduct branding workshops for 30 businesses, and provide them with full branding services. 

Lighthouse will do research the SME ecosystem in Oman and conduct behavioural and psychometric profiling. 
Inspired Solutions will select, training, evaluate and mentor a segment of entrepreneurs in Oman, with a particular emphasis on the Dakhliya and Ad Dhahira regions. Bayantebyan will present a professional, local, educational online show about SMEs and entrepreneurship through the collaborative effort of a 100 per cent Omani team. 

Abdullah Al Jufaili, general manager of Sharakah, said, "ebda enterprise is neatly designed to complement existing entrepreneurial initiatives and activities in the community. The broader objectives are related to training, capacity building, growing existing SMEs, promoting entrepreneurship and researching the entrepreneurial capabilities of Omanis. We are delighted to be part of this extensive project that targets more than 300 individuals and at least 30 SMEs."

'Convertible grants'
Earlier, the signing ceremony was held under the auspices of Talal Sulaiman Al Rahbi, deputy secretary-general of the Supreme Council for Planning, and vice-chairman of the Public Authority for SME Development. It was officiated by Abdullah Al Jufaili, general manager of Sharakah and the partnering companies' chief executive officers, in the presence of Khalid Al Haribi, the social investment manager of BP Oman.

 "The uniqueness of these projects is in their 'convertible grants' principle which makes making a sustainable positive impact a prerequisite to assessing the project as successful. The projects follow four interdependent themes that could contribute to filling the gap in building the capacity of entrepreneurs: access to ideas and feasible business plans, access to finance, access to growth, and access to MARKETS," Al Haribi added.