Authors: K.K. Siraj; AbdulRahman Nafei; Nawwaf Al Rajhi
Addresses: Department of Business Studies, Ibra College of Technology, 113, Sultanate of Oman ' Department of Business Studies, Ibra College of Technology, 113, Sultanate of Oman ' Department of Business Studies, Ibra College of Technology, 113, Sultanate of Oman
Abstract: This paper examines the perception of entrepreneurs about the opportunities and challenges for entrepreneurial ventures in Sultanate of Oman. In Oman Vision-2020, the Oman Government placed significant emphasis on developing entrepreneurial ventures to support its strategy to diversify the economy and develop non-oil sectors, utilise domestic resources and promote employment, thereby to achieve sustainable economic development. A mixed research design is followed in this study. Primary data are collected from 60 entrepreneurs, selected randomly from the database provided by Oman Chamber of Commerce and Industry. The study revealed an improved awareness among entrepreneurs regarding the entrepreneurial opportunities in the region. Statistical analysis highlighted the need for government intervention to mitigate the financial, technical, marketing and legal challenges faced by entrepreneurs. The life of an entrepreneur is challenging; it requires not only policy initiatives, but also accelerated efforts from various governmental and non-governmental agencies to develop a favourable climate for entrepreneurial growth in the region.
Keywords: entrepreneurship; entrepreneurial intention; creativity; Sultanate of Oman.
Middle East Journal of Management, 2018 Vol.5 No.3, pp.175 - 190
Received: 01 Jun 2017
Accepted: 23 Sep 2017
Published online: 12 Jul 2018 *