Empowerment as a Catalyst for Sustainable Livelihoods: Unlocking New Opportunities for Businesses in Oman
MUSCAT: The Sultanate of Oman is actively pursuing innovative solutions to support self-employed individuals through various initiatives aimed at empowering citizens in the labor market. These efforts include specialized training programs, freelance platforms, and financing options intended to encourage young Omanis to launch their own businesses.
Experts highlight that Oman is making strides to narrow the gap between job seekers and available employment opportunities, a crucial step toward achieving sustainable economic growth and fostering a competitive workforce.
Eng. Azhar Al Kindi, Technical Director of the National Employment Programme (NEP), noted that the “Masirah” initiative introduced by the Development Bank plays a significant role in supporting self-employed individuals. He commended the entrepreneurial spirit of young Omanis, as evidenced by a continuous increase in self-employment among the youth.
According to the Ministry of Labour, self-employment is a vital pathway for citizens seeking employment. Supporting Omani entrepreneurs is essential for the advancement of the labor market and for organizing this sector. Adequate financing can help entrepreneurs succeed in their ventures.
While financing challenges remain a notable obstacle for entrepreneurs, improved funding and collaboration among economic entities can enable Omani entrepreneurs to establish their businesses and create new job opportunities.
The Development Bank offers financing for self-employment projects and provides licensed services to those with self-employment licenses in need of funding or developmental assistance. The goal of these financing initiatives is to empower individuals, diversify income sources, and foster a culture of self-employment within the community. Additionally, the Oman Business Platform has opened up new avenues for young people to start their businesses in an organized and legal manner, further supporting the government’s efforts to boost the local economy through job creation and the transformation of skills into sustainable income sources.
The Small and Medium Enterprises Development Authority (SMEDA) provides loans as a primary source of diverse financing programs tailored to meet the needs of various projects and businesses. The SME Leadership Executive Plan for 2026–2030 includes a comprehensive package of programs and initiatives targeting multiple stages of SME development. These initiatives aim to enhance readiness for expansion and export, integrate financing options, support handicrafts and the creative economy, and develop a network of entrepreneurship centers across the governorates.
SMEDA asserts that implementing this plan will strengthen the sustainability of SMEs, create quality job opportunities, and empower entrepreneurs to build viable businesses. This, in turn, will enhance the competitiveness of the national economy and align with the aspirations for the future.
In recent years, Oman has observed a notable shift in work culture, with young people increasingly gravitating toward self-employment and the digital economy. The online freelance sector in Oman has experienced rapid growth, spurred by changes in the global labor market and trends in the digital economy, bolstered by national initiatives aimed at empowering youth and providing sustainable income opportunities across various digital platforms.
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s commitment to empowering self-employed individuals through initiatives like the “Masirah” programme is a pivotal step in closing the employment gap, presenting significant opportunities for businesses to engage with a burgeoning entrepreneurial landscape. As young Omanis increasingly transition to self-employment, investors and entrepreneurs should strategically consider harnessing digital platforms and local resources to tap into this dynamic market. However, the need for effective funding solutions remains critical; addressing this challenge could unlock substantial growth and innovation within the Omani economy.
