Empowering Local Enterprises: National Finance Continues Partnership with Sharakah to Support SMEs

Muscat: Reaffirming its commitment to driving the growth of local enterprises, National Finance, the Sultanate of Oman’s leading finance company, has further strengthened its collaboration with Sharakah by extending support to six homegrown establishments under its Imtidad SME Growth Programme 2024. Through this initiative, the company aims to empower these entrepreneurs by helping them navigate challenges, seize opportunities, and realize business aspirations.

The Imtidad SME Growth Programme 2024 garnered substantial interest, with over 156 passionate entrepreneurs from diverse sectors applying for support. Following a rigorous selection process based on multiple criteria, 15 promising candidates were shortlisted, culminating in the selection of the final six. Among the selected SMEs are Sofred Mobility, TAWABIL, Fascano, Squad Up, Kuch Albun, and Oqood, underscoring the programme’s commitment to supporting a diverse range of businesses.

Reflecting on the programme, Mr. Tariq bin Sulaiman Al Farsi, Chief Executive Officer at National Finance, said, “As a company deeply rooted in the fabric of the country’s business landscape, National Finance recognizes the pivotal role SMEs play in driving our economy forward. Our dedication to supporting SMEs exemplifies our profound faith in the entrepreneurial spirit that fuels innovation and advancement within our nation. By empowering SMEs, we not only invest in the nation’s future, but also nurture the very cornerstone of our economic prosperity.”

He added, saying, “Our collaboration with Sharakah epitomizes our shared vision of fostering SME growth and strengthening our economy’s resilience. Together, our goal is to embolden the next generation of entrepreneurs and business leaders, thereby fostering a thriving ecosystem.”

National Finance and Sharakah welcomed the six SMEs at an inaugural workshop held at the company’s premises on 14 February, where the selected candidates were introduced to the programme. Spanning 12 months, the programme will identify areas for improvement, and drive essential enhancements in key aspects, to help the SMEs optimize business performance and achieve sustainable success.

Drawing upon its extensive training history, Sharakah conducts advisory sessions, offering valuable guidance throughout each program phase. Additionally, it coordinates field visits, allowing chosen companies to receive practical consultations on real-world entrepreneurship scenarios in the current market. This process, in turn, fosters the development of intellectual and innovative aspects while equipping participants with essential skills to navigate growth in an ever-evolving business environment.

Through its Imtidad corporate social responsibility wing, National Finance remains dedicated to bolstering SMEs, making a positive impact on the broader society, and contributing to initiatives that seek to empower individuals and communities across the country.