SMEs registered with Riyada rose by 14.5%

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هذه الصفحة متوفرة بهذه اللغة: العربية

 

24 Jan 2020

MUSCAT (WAF): The number of companies registered with the Public Authority for Small and Medium Enterprises Development (Riyada) increased during one year by 5,342 companies, to reach a total of 42,163 small and medium enterprises (SMEs) by the end of November 2019.

According to the official data issued by the National Center for Statistics and Information (NCSI), the most significant increase in the number of new SMEs registered with the authority in the Governorate of Muscat came with some 1994 companies, followed by North al-Batinah Governorate with an increase of 954 companies.

 

It is noteworthy that this number does not include small and medium companies that are not registered with the Authority, as it is mandatory for the owners of SMEs registered with Riyada to not be employed by any other public or privet entity.

Accordingly, small and medium-sized companies whose owners are not dedicated to managing their business are not included in these figures.

As part of Oman’s efforts to direct a portion of business and contracts to SMEs, the companies registered with Riyada enjoy preferential treatment. Yet it is obligatory to register the company and its employees with the Public Authority for Social Insurance (PASI) before registering and SME with Riyada.