RO 45.4 Million Financing Boosts 521 SME Projects: What This Means for Small Business Growth in Oman
MUSCAT: The Small and Medium Enterprises Development Authority (Riyada) has reported that by the end of December 2025, 521 financing applications were approved, totaling RO 45.4 million. Additionally, 25 loans were fully repaid, contributing to the creation of 2,002 jobs across various sectors.
Riyada has introduced 10 financing programs targeting diverse sectors and business needs. These include the In-Country Value (ICV) program, financing for industrial and service projects, working capital support, funding for incubated businesses and accelerators, as well as initiatives aimed at handicrafts, home-based businesses, productive enterprises, street vendors, and mobile commercial activities. Other schemes cover contract financing, support for companies linked to the Oman Investment Authority, emergency SME financing, export financing, and projects based in Khazaen Economic City.
To broaden financing options for entrepreneurs, Riyada has enhanced collaboration with financial institutions across Oman, including commercial banks, the Oman Future Fund, and government funds. These partnerships are part of a comprehensive strategy to improve the entrepreneurship ecosystem and provide access to diverse funding sources.
During the year, Riyada conducted 1,471 field visits to monitor the progress of financed projects and assess business owners’ needs, helping enterprises to scale operations, expand, and bolster their economic impact.
Continuing its commitment to support SME development, Riyada offers innovative programs along with financial, technical, training, and advisory services. These initiatives aim to foster SME growth, extend market reach both locally and regionally, and ensure sustainable long-term success. — ONA
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The robust financing support provided by Riyada, with over RO 45 million approved for SMEs and diverse sector-specific programs, signals significant growth opportunities for small businesses in Oman. For smart investors and entrepreneurs, this represents a chance to leverage expanded funding access and strategic partnerships to scale operations and tap into emerging markets, especially within Khazaen Economic City and export sectors. However, vigilant monitoring of project progress and continuous innovation remain crucial to mitigate risks and ensure sustainable impact.
