SME registrations in Oman slip 34% from Jan-Feb this year: NCSI

According to the monthly data released by the National Centre for Statistics and Information (NCSI), the new registrations of SMEs during the first two months of this year slipped 34.1 per cent to 1,204 units, from 1,826. However, there was a robust 53 per cent growth in medium enterprises alone in February 2018 at 26 new units, from 17 new medium enterprises registered compared to the previous month.

The SME units include medium, small and micro business enterprises. Among various governorates, Muscat saw 448 new SME registrations (or 37 per cent of total registrations in the country) from January-February this year, as compared to 598 new registrations in the same period last year, added the report, quoting data from the Public Authority for Small and Medium Enterprises Development (Riyada).

The new registrations of SMEs in North Batinah stood at 171 in the first two months of 2018, against 259 during the same period last year, constituting 14 per cent share in total new registrations from January-February.

While Dakhliyah saw 134 registrations, South Batinah saw 90, Dhofar (86), North Sharqiyah (81), South Sharqiyah (75), Dhahirah (64), Buraimi (39), Al Wusta (12) and Musandam (4). As many as 31,835 new SME units were registered in 2017, the NCSI report shows. Of this, 10,260 new units were in the Governorate of Muscat.