proem

Business, Management and Accounting

8 years ago

Oman SMEs face hurdles in accessing finance, hindering economic growth

Paper Summary

Small and medium-sized businesses in Oman face challenges in getting loans due to their size and nature. A study looked at how SMEs in manufacturing, trade, and services sectors get financing. They found that many SMEs need external finance to grow, especially in trade and services. The main obstacles to getting loans were high interest rates, incomplete business plans, lack of collateral, and unviable proposals. The study used questionnaires and interviews with 397 SMEs in Oman to gather data and analyze it. The findings showed differences in firms and owner-managers affecting their need for finance and success in getting loans. The majority of SMEs were aware of government finance sources.

Related papers

Business, Management and Accounting

8 years ago

Small firms in Libya face challenges hindering growth and economic development.

Business, Management and Accounting

3 years ago

Lack of accounting skills leads to high SME failure rates in Malaysia.

Islamic Banking

Business, Management and Accounting

7 years ago

Small businesses in Libya struggle to access funding for growth.

Islamic Banking

Microfinance

Corporate Governance

Related papers

Business, Management and Accounting

8 years ago

Small firms in Libya face challenges hindering growth and economic development.

Business, Management and Accounting

3 years ago

Lack of accounting skills leads to high SME failure rates in Malaysia.

Islamic Banking

Business, Management and Accounting

7 years ago

Small businesses in Libya struggle to access funding for growth.

Islamic Banking

Microfinance

Corporate Governance

Small and medium-sized businesses in Oman face challenges in getting loans due to their size and nature. A study looked at how SMEs in manufacturing, trade, and services sectors get financing. They found that many SMEs need external finance to grow, especially in trade and services. The main obstacles to getting loans were high interest rates, incomplete business plans, lack of collateral, and unviable proposals. The study used questionnaires and interviews with 397 SMEs in Oman to gather data and analyze it. The findings showed differences in firms and owner-managers affecting their need for finance and success in getting loans. The majority of SMEs were aware of government finance sources.