Higher College Benefits on Sultanate of Oman Economy for Small Business Essay

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Write a report about “Challenges, Solutions, and Benefits on Sultanate of Oman Economy for Small Business”.

I’ve uploaded my Proposal read it carefully because the report should be written according to my proposal. Also, an attachment has been uploaded named “Report Guidelines” for knowing the headlines and structure of the report.




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CHALLENGES, SOLUTIONS, AND BENEFITS ON SULTANATE OF OMAN ECONOMY FOR SMALL BUSINESS By: Nawaf Suhail Al Mamari LTM Research Proposal Supervisor: Ms. Najat Juma al Maqbali International Maritime College Oman 30 November 2018 Students Name: NAWAF SUHAIL AL MAMARI ID: 03122-14 1. Research topic Date of submission Yes No Yes No Yes No Yes No 5. Proposed timeline Yes No 6. References Yes No Yes No 1.1 Title of the project 1.2 Nature of the problem or issue 1.3 The aims, objectives, and research questions/hypotheses 2. Background and context of the study 2.1 How did the problem or issue arise? 2.2 Why is it an important topic to study? 2.3 Provide definitions of key terms or concepts. 2.4 Point out the limitations imposed. 3. Methodology 3.1 Research Method (e.g., qualitative, quantitative or mixed) and justification for approach 3.2 Tools of data collection (e.g., questionnaire, interviews, focus groups, documentary analysis) 4. Literature review 4.1 Demonstrate Familiarity with the relevant literature needed. 4.2 Show a precision of relevant literature to be included: Approved by: The G. P Committee Assigned Supervisor Table of Contents 1.1 Title of the project.........................................................................................................................................2 1.2 Nature of the problem or issue........................................................................................................................2 1.3 The aims, objectives, and research questions/hypotheses ..................................................................................2 2.1 How did the problem or issue arise? ...............................................................................................................2 2.2 Why is it an important topic to study? .............................................................................................................2 2.3 Provide definitions of key terms or concepts. ..................................................................................................2 2.4 Point out the limitations imposed....................................................................................................................2 Methodology .......................................................................................................................................................2 3. 3.1 Research Method (e.g., qualitative, quantitative or mixed) and justification for approach .......................................2 3.2 Tools of data collection (e.g., questionnaire, interviews, focus groups, documentary analysis)................................2 Literature review ................................................................................................................................................2 4. 4.1 Demonstrate Familiarity with the relevant literature needed. ................................................................................2 4.2 Show a precision of relevant literature to be included: .........................................................................................2 1.0 Research Topic .....................................................................................................................................................4 The Study on the Challenges of Small Scale Businesses in the Sultanate of Oman ......................................................4 1.2 This study focuses on the challenges of Oman’s small scale businesses ................................................................4 1.3 The aims, objectives, and research questions/hypotheses ..................................................................................5 1.3.2 Hypotheses .....................................................................................................................................................5 2.0 Background and Context of the Study.....................................................................................................................6 2.1 How did the problem or issue arise? .................................................................................................................6 2.2 Why is it an important topic to study? ..............................................................................................................6 2.3 Provide definitions of key terms or concepts. ....................................................................................................6 3.0 Methodology .........................................................................................................................................................7 3.1 Research Method ..............................................................................................................................................7 3.2 Tools of Data Collection ....................................................................................................................................7 4.0 Literature review ...................................................................................................................................................8 5.0 Proposed TimeLine.................................................................................................................................................9 Reference ................................................................................................................................................................. 10 1.0 Research Topic The Study on the Challenges of Small Scale Businesses in the Sultanate of Oman Challenges, solutions, and benefits on sultanate of Oman economy for small business. 1.2 This study focuses on the challenges of Oman’s small scale businesses The small businesses play an imperative role in a state’s economy as well as determining a country’s economic steadiness. Notably, Sultanate of Oman falls under the developing phase of SMEs. Besides, presently the government is focusing on the growth of small business with the aim of strengthening the country’s economy. According to Al Bulushi and Bagum to enhance SMEs, the government started few programs in the year (Ayoob, C. and Balakrishnan, S., 2012) with the aim of reducing unemployment from the nation. About 74% of the small businesses were in a position to expand and grow their business operations, however; they required a high degree of leadership and managerial including financial infrastructure (Al Bulushi, 2017) Apparently, small businesses in the Sultanate of Oman lack adequate resources to manage the elevating number of clients’ demand. Although small businesses in Oman want to expand and grow, they are facing challenges such as finance, research and development, market and labor regulation, government policies and regulations, barrier to entry, lack of government tender invitations, inability to compete for orders, employment turnover, and inadequate entrepreneur support programs. It is worth noting that all these challenges have a direct association with an elevation in cash flow circle of a business. 1.3 The aims, objectives, and research questions/hypotheses The purpose of this research is to investigate this project and explore challenges, solutions, and benefits facing small entrepreneurial enterprises in Sultanate of Oman. Various studies have shown that the availability of a project can contributes to economic development. Objective This research will help the Oman government to examine Oman's economic factors that provide challenges, and identify gap to small business in the country. 1.3.2 Hypotheses The main focus of this research is to study the challenges of small scale businesses in the Sultanate of Oman. There are three sub questions that this study seeks to answer which are listed as follows: i. Does government economic regulations and business policies affect small scale businesses in Oman? ii. Did they receive entrepreneur subsidy from the government of Oman? iii. What are the primary issues facing by Omanis’ small scale entrepreneurs? 2.0 Background and Context of the Study 2.1 How did the problem or issue arise? Various economic factors pose different challenges, solutions, and benefits to efficient operation for small enterprises. Sultanate of Oman economy is not exempt from the economic attributes that affect small business positively or negatively, such as the market condition, government policies, and regulations among other issues, for instance, lack of small enterprises invitation to government tenders. This contributes to the high rate of small business closing down in the Sultanate of Oman economy. 2.2 Why is it an important topic to study? Small business is important in both the developing and developed nations since they contribute significantly to the economic development and stability of a nation. Thus, this study is important because it addresses the challenges faced by small businesses in Oman and provides solutions and benefits of helping small businesses, such as creating job opportunities for Omani residents. 2.3 Provide definitions of key terms or concepts. 1. Small businesses refer: to small-scale firms, shops, institutions, that are in need of minimal capital, less investment, less infrastructure, with a high rate of employment, which support them to establish job opportunities both in informal and formal sectors. 2. Entrepreneur refers: to an individual who looks into an environment, identifies opportunities for enhancement, and implements actions for the identified opportunities. 2.4 Point out the limitations imposed. The researcher is facing the following limitations while conducting this research. 1. Insufficiencies of funds used by the researcher on covering his daily costs associated with travelling, printing questionnaires, etc. 2. Time constraints to conduct personal interviews on different constituent 3.0 Methodology 3.1 Research Method The researcher utilizes quantitative research through designing an effective questionnaire. Worth a note, quantitative research involves a structured procedure of collecting and assessing data attained from disparate sources and employs mathematical computational instruments to acquire the needed results like the expenses and profits of small businesses. Accordingly, the research will involve primary data collection from the different comprising of small businesses owners and from competent authorities of small businesses in Sohar and Muscat (the capital of Sultanate of Oman). This infers that the data will be gathered for the first time as well as primarily for the purpose of this study. 3.2 Tools of Data Collection The Survey will comprise a structured questionnaire encompassing both closed and open-ended queries to permit the subjects to add any additional Info associated to the study, which might be vital in the course of making deductions and recommendations. Besides, the questions will assume Likert scale format for the closed question planned to collection ordinal level of measurement. 4.0 Literature review Communication and make the interviews with small businesses owners comprising and from of small businesses competent authorities to get information about the challenges and the profits of small businesses in Sultanate of Oman thus it helps me to doing research. Also using questionaries’ tool I will able to get direct information. According to Neelufer and Al Amri entrepreneur is a vital factor in private enterprise industry, which refers to an individual who looks into an environment, identifies opportunities for enhancement, and implements actions for the identified opportunities. Besides, small and medium entrepreneurs rely on short-term loans and thus requires financial infrastructure for growth and expansion (Neelufer, A. and Al Amri, S., 2014). Ayoob and Balakrishnan purport that small businesses are not only pivotal in promoting a nation's economy but are indispensable to a nation's economic stability. In most nations, small businesses generate a significant part of GDP as well as forming a key source of employment and growth centers for entrepreneurship and new ideas (Ayoob, C. and Balakrishnan, S., 2012). Ayoob and Balakrishnan further state that the development of Sultanate of Oman has developed a Sanad program focused on encouraging entrepreneurs to start a small business. However, despite the efforts, small business still faces other economic challenges leading to their failures. (Ayoob, C. and Balakrishnan, S., 2012). Kumar and Al Maqbali argue that socioeconomic progression of a nation emanates from creating a bigger number of entrepreneurs from different strata of the population (Kumar, M. and Al Maqbali, L., 2015). Small business plays a significant role in developing a nation economically. According to Kumar and Al Maqbali, small and medium enterprises refers to small-scale firms, shops, institutions, that are in need of minimal capital, less investment, less infrastructure, with a high rate of employment, which support them to establish job opportunities both in informal and formal sectors. (Kumar, M. and Al Maqbali, L., 2015). 5.0 Proposed TimeLine Chapter Number Chapter one Chapter two Chapter three Chapter four Chapter five Estimate date to Finish 01 March 2019 21 April 2019 15 June 2019 01 July – 09 August 10 August - 08 September Reference Al Bulushi, B. B., 2017. Growth strategies of sme in Oman-Issues and challenges.. International Journal of Small Business and Entrepreneurship Research,, Volume 5(2), pp. pp.21-61. Ayoob, C. and Balakrishnan, S., 2012. SMEs in Sultanate of Oman: meeting the development challenges. Research Journal of Economics and Business Studies, Volume 1(9), pp. pp.27-30. Kumar, M. and Al Maqbali, L., 2015. Challenges of the small-scale entrepreneur's in Sohar Port anyone there to listen?. International Postgraduate Business Journal, Volume 7(1), pp. pp.37-63. Neelufer, A. and Al Amri, S., 2014. Challenges and barriers encountered by the SMEs owners in Muscat Blossom Christina.. International Journal of Small Business and Entrepreneurship Research, Volume 2(3), pp. pp.1-13. GUIDELINES FOR THE PREPARATION OF UNDER GRADUATE (UG) PROJECT REPORT (FULL-TIME PROGRAMME) Logistics and Transport Management Department INTERNATIONAL MARITIME COLLEGE OMAN SULTANATE OF OMAN February, 2018 Version: LTM/ 2 / 2018 This document describes the procedures that are to be followed with regard to the Graduation Project of the full-time Bachelor Programme in LTM, ME/DO & PE Departments. IMCO reserves the right to make changes affecting policies, dates, or any other matters as referred to in this document at any time. Graduation Project Process Flow Chart Start No Go Go Allocation of supervisor Second reader GP Proposal (Appendix IV) Go Go No go No Go Turnit in Undertaking (Appendix VIII) Not approved Approved Final Thesis (appendix IV) Sign Agreement Conduct research Invitation defense (appendix III) Draft Thesis Defense Pass Student GP Committee Supervisor ` End No pass 1. INTRODUCTION This document provides guidelines to be followed and adhered by the IMCO students for submitting the Final Project Report along with the various ethical and technical aspects involved. 2. SUBMISSION FOR EVALUATION Two (2) copies of Project Report plus a soft copy Word document are to be submitted to the LTM Department. The Project Report shall be submitted with spiral binding. 3. SIZE OF THE PROJECT REPORT The size of the report should not be less than 40 pages. 4. MANUSCRIPT PREPARATION The headings of all items listed in Appendix 01 must be typed in capital letters without punctuation, centered and Bold with font size 18 pt. The main text of project report shall be typed in font style Arial, font size 12 pt. and 1.5-line spacing. Note: Students are not allowed to insert IMCO’s logo in the header of the project report as the report is not an official document of IMCO. 4.1.Cover Page A sample copy of the Cover age of the project report is given in Appendix-01. 4.2.Declaration of Academic Integrity A sample copy of the Declaration of Academic Integrity Form is given in Appendix02. 4.3.Abstract The abstract shall contain Max. 300 words representing the research problem, methodology and outcome/results and shall be typed in 1.5-line spacing (see Appendix04). 4.4.Acknowledgement The acknowledgement section shall be typed in 1.5-line spacing (see Appendix-05). 4.5.Table of Contents The Table of Contents shall reflect the page number of the section titles (see Appendix06). 4.6.List of Tables and Figures The list of Tables and Figures shall be consistent with their captions provided in the main text and shall reflect the page number of the tables and figures, respectively (see Appendix-07 and 08). 4.7.Chapters The chapters may include: • • • • • Chapter 1: Introduction Chapter 2: Literature Review Chapter 3: Methodology / Research Design Chapter 4: Findings and Analysis Chapter 5: Conclusions and Recommendations Note: the title of each chapter is usually left to students’ discretion . 4.8.Appendices Appendices are provided to give additional information which are not central to the report body (such as primary data, computer program codes, specifications, etc.). 4.9.List of References The references list must conform to the style given in Appendix-03. 4.10. Table and Figure Caption The caption of figures should follow sentence case, center aligned and be placed below the figure with single spacing. The caption of tables should follow sentence case, center aligned and placed above the table with single spacing. Tables and Figures in the project report shall bear appropriate numbers. For example, the second figure of chapter 3 shall be numbered as Figure 3.2. Same format is applicable to the table caption too. 4.11. Numbering Instructions 4.11.1. Page Numbering All page numbers could appear without punctuation at any position of the page with the students’ discretion. Items 2-10 of section 4 (i.e. Declaration of Academic Integrity, Certificate, etc.) shall be numbered lower case Roman letters (see the sample copy given in Appendix-06). The cover page will be numbered as (i) but this should not be appeared. The page immediately following the cover page shall be appeared as (ii). Pages of main text, starting with Chapter 1 must be consecutively numbered using Arabic numerals (1, 2, 3, …). 4.11.2. Numbering of Chapters, Headings and Sub-headings The numbering of chapters, headings and sub-headings shall be done using Arabic numerals (1, 1.1, 1.2, 1.2.1, … 2, 2.1, 2.2, ….). 4.11.3. Numbering of Equations Equations shall be numbered consecutively including the chapter number. For example, a third equation of Chapter 4 should be presented as Eq. 4.3. 5. PLAGIARISM Plagiarism is intellectual theft. It is a form of fraud. Copied work of others represented as own work is plagiarism and should be avoided at all times. The approved draft GP Report and the final GP Report will be run through Turnitin to check for plagiarism. As per IMCO’s policy on plagiarism in the current Student handbook (a max of 10% is acceptable), students identified or suspected of plagiarising will go through a process whereby their document immediately becomes subject to investigation, with the penalty to a proven case being “a score of 0 for their assignment”. -01: A sample copy of the Cover Page of the Project Report TITLE OF PROJECT REPORT A PROJECT REPORT Submitted by < Font Size 14, Time New Roman, Italic, Sentence case> NAME OF THE STUDENT – ID in partial fulfillment for the award of the degree of < Font Size 14, Time New Roman, Italic, Sentence case> BACHELOR OF LOGISTICS AND TRANSPORT MANAGEMENT Under the Supervision of < Font Size 12, Time New Roman, Sentence case> Dr/Mr./Ms. ……… < Font Size 16, Time New Roman, Bold, Sentence case> LOGISTICS AND TRANSPORT MANAGEMENT DEPARTMENT INTERNATIONAL MARITIME COLLEGE OMAN SULTANATE OF OMAN < Font Size 15, Time New Roman, Bold, UPPERCASE, single line spacing > Month, Year < Font Size 14, Time New Roman, Bold, Sentence case> Appendix-02: Declaration of Academic Integrity Form DECLARATION OF ACADEMIC INTEGRITY Form Title Department Form Code Issue Date Declaration of Academic Integrity Academic Departments IMCO/QMS/AD/FORM 17/01/2016 Please sign to confirm that you have read and accepted the following statements. Your assessment will not be accepted without this signed declaration. 1. I confirm that I have read and fully understood IMCO’s policy on Academic Integrity, including practices that may lead to committing plagiarism and which I must avoid. 2. I confirm that in the attached assessment I have not presented or attempted to present anyone else’s work as my own, except where I have indicated. I confirm that I understand that doing so would mean I had committed plagiarism. 3. I confirm that I understand that, if I fail to comply with IMCO’s policy on Academic Integrity, IMCO will impose penalties which may in the most serious of cases result in termination of my studies at IMCO. I confirm that I understand that if I am judged guilty of plagiarism I will receive a score of zero and the other penalties indicated under IMCO’s policy on Academic Integrity in the Student’s Handbook will apply. 4. I agree to IMCO submitting my work to Turn-it-in or using any other source to verify whether my work contains plagiarised material. The extent to which I have worked with others is as follows: Programme: …………………………………………………………. Module Code: …………………………………………...................... Module Title: ………………………………………………………... Name: ………………………………………………………………… IMCO student ID number: ……………………………. Class: ……………………………………………………. Signature ……………………………………………….. ………………… Date: See the Student Handbook for IMCO’s policy on Academic Integrity and Plagiarism before you sign. Appendix-03: Referencing style It is essential that all sources that students use are appropriately recognized through citing and referencing. The followings are the most likely kinds of referencing and citing students will need to do: • Referencing and citing a book • Referencing and citing a journal article • Referencing and citing a conference proceeding • Referencing and citing including Images, Pictures, Tables, graphs, extracts from books • Referencing and citing a website • Referencing and citing a website if you cannot identify an author or organization In-Text Citation: Referencing: Punctuations: Format: Note: (Author + Year, page #) The full entry that appears at the end of final project; Shall be followed strictly (full stop, comma, semi colon, etc.); Format to put citation and to do referencing are given below; Use ampersand (&) instead of (and) for multiple authors. 1. BOOK In-Text Citation: Format: (Last Name of the Author, year of publication) ✓ Kletz (1999) or (Kletz, 1999) –Single author ✓ Speegle & Roberts (2006) or (Speegle & Roberts, 2006) – Two authors ✓ Chiaramonti, et. al. (2014) or (Chiaramonti, et. al. 2014) – Multiple authors Reference: Format (Single author): Author or Editor. (year of publication). Title in Italic. Place of publication: Publisher. ✓ Kletz, T. (1999). What went wrong? Oxford: Gulf Professional Publishing. Format (Two authors): Authors or Editors. (year of publication). Title in Italic. Place of publication: Publisher. ✓ Speegle, M. & Roberts, D. (2006). Process Technology Plant Operation. London: Thomson Delmar Learning. Format (Multiple authors): Author/s. (year of publication). Title in Italic. Place of publication: Publisher. ✓ Chiaramonti, D., M. Bonini, E., Fratini, G., Tondi, K., Gartner, A.V., Bridgwater, H.P., Grimm, I., Soldaini, A. & Baglioni, P. (2014). Development of emulsions from biomass pyrolysis liquid and diesel and their use in engines. India: Elsevier. 2. JOURNAL ARTICLE In-Text Citation: Format: (author/s, year of publication, page #) ✓ Smith (2011) or (Smith, 2011) ✓ Smith (2011, p. 13) or (Smith, 2011, p.13) ✓ Brown & Daniel (2000) or (Brown & Daniel, 2000) ✓ Brown & Daniel (2000, p.17) or (Brown & Daniel, 2000, p.17) ✓ Clarkson, et. al. (2016) or (Clarkson, et. al., 2016) ✓ Clarkson, et. al. (2016, p.81) or (Clarkson, et. al., 2016, p.81) References: Format: Author/s. (year of publication). Title in Italic. Publisher. Volume, page #. ✓ Smith, J. (2011). Agency and female teachers' career decisions: a life history study of 40 women. Educational Management Administration & Leadership. vol. 39, no. 1, pp. 7-24. ✓ Brown, C. & Daniel, R. (2011). Agency and female teachers' career decisions: a life history study of 40 women. Educational Management Administration & Leadership. vol. 39, no. 1, pp. 7-24. ✓ Clarkson, R, Brown, C. & Daniel, R. (2011). Agency and female teachers' career decisions: a life history study of 40 women. Educational Management Administration & Leadership. vol. 39, no. 1, pp. 7-24. 3. PICTURES, FIGURES, GRAPHS, IMAGES In-Text Citation: Include citations at the bottom of Pictures, Figures, Images, Tables and Graphs. Format: Title (source, year of publication) ✓ Wikimedia (1999) or (Wikimedia, 1999) References: Format (Book): Author/s. (year). Title in Italic. Place of publication: Publisher. ✓ Felder, M. (1999). Heat Exchangers. Oxford: Gulf Professional Publishing. Format (Website): Publisher. (year of publication). Title in Italic. Month Year, from . Retrieved Day ✓ Speegle, M. (2006). Process Technology Plant Operation. Retrieved on 27 Septemeber 2017 from . 4. CONFERENCE PROCEEDINGS In-Text Citation: Format: Author/s (year) ✓ Wilde & Cox (2008) or (Wilde & Cox, 2008) Reference: Format: Author/s. (year). The theme of the conference. Editor/s (eds.), Conference name: Topic/Subject of the conference, Host of the conference, City, State, page/s. ✓ Wilde, S. & Cox, C. (2008). Principal factors contributing to the competitiveness of tourism destinations at varying stages of development. in S. Richardson, L. Fredline, A. Patiar & M. Ternel (eds.), CAUTHE 2008: Where the 'bloody hell' are we?, Griffith University, Gold Coast, Qld, pp. 115-8. 5. WEBSITE In-Text Citation: Format: Author or Publisher, year of publication ✓ Beard (2006) or (Beard, 2006) References: Format: Author/s or Publisher. Title in Italic Retrieved Day Month Year, from . ✓ Beard, M. (2006). The fall of the Roman Republic. Retrieved 30 January 2011 from. 6. WEBSITE WITH UNKNOWN AUTHOR OR ORGANIZATION In-Text Citation: Format: (Title, Year) ✓ (Investment scams, 2016) References: Format: Title of web page or document Year, Publisher (if applicable). Retrieved Day Month Year, from . ✓ Investment scams (2016). ASIC’s Money Smart. Retrieved 31 May 2016 from . 7. COMPANY MANUAL In-Text Citation: Format: (Author, Year of publication) ✓ (Orpic, 2016) References: Format: Author/s. (year of publication). Title of the manual in Italic. Company name. Department name. City. Country Format: Company name. (year of publication). Title of the manual in Italic. Department name. City. Country ✓ Al Balushi, M. (2016). Process Safety Procedures. Orpic. Process Department. Sohar. Sultanate of Oman. 8. AUDIO/VIDEO SOURCE In-Text Citation: Format: (Author/s, year) or (Website / Creator, year) ✓ Lim (2015) or (Lim, 2015) ✓ ASX Investment Video (2017) or (ASX Investment Video, 2017) References (at the end of the PPT presentation): Format: Author/s or Website/ Creator. Title in Italic. Online video, website. Retrieved on Date Month Year from . ✓ Lim, N. (2015). Ethical investing - good for you & the world? Online video, ASX Investment Videos. Retrieved 10 July, 2017 from . Please note that the author’s publications during the period of project work shall not be included in the references and can be separately mentioned in the List of Publications. Abstract: Acknowledgment: Table of Contents 1. Chapter 1: ............................................................................................................15 1.1 Introduction: .................................................................................................. 15 1.2 Background of the research topic .................................................................. 15 1.3 The issues surrounding the research topic, factors influencing, and parties involved.................................................................................................................... 15 2. 3. 1.4 Other relevant information related to the research topic ............................... 15 1.5 Problem statement ......................................................................................... 15 1.6 Structure of the report (briefing about the main report parts) ....................... 15 1.7 Conclusion:.................................................................................................... 15 Chapter 2: ............................................................................................................16 2.1 Introduction ................................................................................................... 16 2.2 Literature review ........................................................................................... 16 2.3 Conclusion..................................................................................................... 16 Chapter 3: ............................................................................................................17 3.1 Introduction ................................................................................................... 17 3.2 Argument for the research method (RESEARCH design methods advantages and disadvantages) ................................................................................................... 17 4. 5. 3.3 The limitations of your research.................................................................... 17 3.4 Ethical codes ................................................................................................. 17 3.5 Sampling........................................................................................................ 17 3.6 Conclusion..................................................................................................... 17 Chapter 4: ............................................................................................................17 4.1 Introduction ................................................................................................... 17 4.2 Findings ......................................................................................................... 17 4.3 Analysis ......................................................................................................... 17 4.4 Conclusion..................................................................................................... 17 Chapter 5: ............................................................................................................18 5.1 Introduction ................................................................................................... 18 5.2 Conclusions ................................................................................................... 18 5.3 Recommendations ......................................................................................... 18 5.4 Conclusion..................................................................................................... 18 Summary 1. List of figures 2. Table of abbreviations 1. Chapter 1: INTRODUCTION 1.1 Introduction: 1.2 Background of the research topic 1.3 The issues surrounding the research topic, factors influencing, and parties involved 1.4 Other relevant information related to the research topic 1.5 Problem statement 1.6 Structure of the report (briefing about the main report parts) 1.7 Conclusion: 2. Chapter 2: LITERATURE REVIEW 2.1 Introduction 2.2 Literature review 3 Note: Give a standpoint of your research amongst the genealogy of literature review related to your topic including methods of research used, findings, and limitations of these resources. Ensure that you organise your literature into sections aligned with your research questions. 3.1Conclusion 3. Chapter 3: RESEARCH METHODOLOGY & DATA COLLECTION 3.1 Introduction 3.2 Argument for the research method (RESEARCH design methods advantages and disadvantages specific for your research topic) 3.3 The limitations of your research 3.4 Ethical codes 3.5 Sampling 3.6 Conclusion 4. Chapter 4: FINDINGS & ANALYSIS 4.1 Introduction 4.2 Findings 4.3 Analysis 4.4 Conclusion 5. Chapter 5: CONCLUSIONS AND RECOMMENDATIONS 5.1 Introduction 5.2 Conclusions 5.3 Recommendations 5.4 Conclusion Note: Conclusions, recommendations must align with the content in chapter 1, 2, 3 & 4. References: Appendix Report Formatting: The text is to be written according to the following specifications: The appearance and format should be neat and orderly. • • • • • Paper size: Font type: Font size: Printing: Margins: • • Line spacing: Page numbers: • Colour printing: • Appendices: • • Printing: Number of words: A4 Arial 12 Single Sided Approximately 3 cms for left and right-hand margins 2.5cm for top and bottom 1.5 Justified Continuous in English (1,2,3,4, etc.), at the bottom and middle of the page Title page is page 1, but the page number should not be visible Determine the number of coloured pages to be printed (colour printing can be very expensive, and it is essential to be calculated into the individual budget in advance). Can be printed separately and added at the end of the report. (It is required to follow a separate numbering style to the main report) The use of a laser printer is required. 7000 words (references, appendices are not counted) COPYRIGHT@IMCO-2017-18
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CHALLENGES, SOLUTIONS, AND BENEFITS ON
SULTANATE OF OMAN ECONOMY FOR SMALL
BUSINESS
Submitted by:

NAWAF SUHAIL AL MAMARI
In partial fulfillment for the award of the degree of
BACHELOR OF X
Under the Supervision of

Ms. Najat Juma al Maqbali
INTERNATIONAL MARITIME COLLEGE OMAN
SULTANATE OF OMAN
September 2019

Dedication
This research project is dedicated to X for their endurance, backing, devotion, and
endless inspiration during my academic journey. They have imparted me to persist and
endure in the course of my academic journey and, hence helping me attain my dream.

Declaration

Abstract
The socioeconomic growth of a nation is obtained only when the community and
state establish a more significant number of small business owners from different groups
of the population. Small business in Sultanate of Oman plays an indispensable role in the
emerging economy. Notably, in Oman, approximately 60% of the small business creates
jobs leading to economic growth. However, although the number of small companies has
elevated in recent years, there is countless hindrances and obstructions linked with small
business growth, expansion, and success. The report explores the challenges
encountered by small business owners, benefits, and provides solutions by which the
Sultanate of Oman government could adopt to enhance the success of small business
owners and ultimately improve the nation’s economy. The data will be analyzed using
SPSS and Excel programs. It was founded that lack of education, government fund,
essential laws, and corruption were the principal obstacles inhibiting the success,
initiating and operating small enterprises in Oman.

Acknowledgment
The accomplishment of this project report would have been impossible devoid of the
limitless aid and backing of specific persons. I extend my great profound recognition to
Allah for providing me the direction, endurance throughout the whole education journey,
including the patience to further my education.

I extend my appreciativeness to Ms. Najat Juma al Maqbali, my supervisor, for her
limitless guidance, motivation, and esteemed inputs while finalizing this project report.

I pass my thanks to my mentors who have trained and trained me the disparate research
methodologies, and guided me in the proper course, my kinfolk and acquaintances for
the continuous and endless encouragement.

Table of Contents
Dedication .................................................................................................................................. 2
Declaration................................................................................................................................. 3
Abstract...................................................................................................................................... 4
Acknowledgment........................................................................................................................ 5
List of Tables ............................................................................................................................. 7
List of Figures ............................................................................................................................ 8
CHAPTER 1: INTRODUCTION .................................................................................................. 9
1.1 Introduction....................................................................................................................... 9
1.2 Research Background ...................................................................................................... 9
1.3 The problems surrounding the research topic ..................................................................10
1.4 Other essential information associated to the research topic ...........................................10
1.4.1 Study significant ........................................................................................................10
1.5 Problem statement ..........................................................................................................10
1.5.1 The aims, objectives, and research questions ...........................................................10
1.5.2 Objective ...................................................................................................................11
1.5.3 Research questions ..................................................................................................11
1.6 Structure of the report ......................................................................................................11
1.7 Conclusion.......................................................................................................................11
CHAPTER 2: LITERATURE REVIEW .......................................................................................11
2.1 Introduction......................................................................................................................11
2.2 Literature Review.............................................................................................................12
2.3 Conclusion.......................................................................................................................19
CHAPTER 3: RESEARCH METHODOLOGY & DATA COLLECTION ......................................19
3.1 Introduction......................................................................................................................19
3.2 Research Design .............................................................................................................20
3.3 Limitation of the Research ...............................................................................................20
3.4 Ethical Consideration .......................................................................................................21
Sampling ...............................................................................................................................21
Conclusion ............................................................................................................................22
CHAPTER 4: FINDINGS AND ANALYSIS ................................................................................22
4.1 Introduction......................................................................................................................22
4.2 Findings ...........................................................................................................................23
CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS ....................................................39
5.1 Introduction......................................................................................................................39
5.2 Conclusion.......................................................................................................................39
5.3 Recommendations...........................................................................................................39
5.4 Conclusion.......................................................................................................................41

List of Tables

Table 1: The table illustrates the Nature of business (N 200) ....................................................23
Table 2: The table illustrates the frequencies for the variable years in operation (N 200) ..........23
Table 3: The table depicts the frequencies for the number of employees (N 200) .....................24
Table 4: The table reveals the frequencies for the type of business (N 200) .............................24
Table 5: The table illustrates the frequencies for the funding (N 200) ........................................25
Table 6: The table illustrates the cross-tabulation between nature and type of business (N 200)
.................................................................................................................................................26
Table 7: Illustrates the comments/ suggestion from the respondent (N 200) .............................36

List of Figures
Figure 1: The chart illustrates the response to attributed concerning general young people
attitude towards engaging in entrepreneurship (N 200) .............................................................27
Figure 2: The chart illustrates the responses for skills and competencies to run a small business
(N 200) ......................................................................................................................................27
Figure 3: The chart illustrates responses to government support for small business (N 200) ....28
Figure 4: The chart illustrates the single most challenge hindering starting small businesses in
Oman (N 200) ...........................................................................................................................29
Figure 5: The pie chart reveals the government enactment of laws to protect and encourage
Small business (N 200) .............................................................................................................30
Figure 6: The figure illustrates the effect of corruption and bribery in hindering small businesses
(N 200) ......................................................................................................................................31
Figure 7: The figure illustrates the response towards the government to fight corruption (N 200)
.................................................................................................................................................32
Figure 8: The figure illustrates the impact of inflation on small businesses (N 200) ...................33
Figure 9: The figure illustrates the Interest rate in hindering Business Startup in Oman (N 200)
.................................................................................................................................................34
Figure 10: The figure illustrates the satisfaction rating with Freedom of Conducting Business in
Oman ........................................................................................................................................35
Figure 11: The figure illustrates the response for Government Regulation in Offering conducive
Business Environment (N 200)..................................................................................................36

CHAPTER 1: INTRODUCTION
1.1 Introduction
The states of developed and emerging states have accepted the reality that small
businesses contribute significantly to a nation’s economic development (Mishra, Mishra,
Mishra, & Hatmi, 2018; Ayoob & Balakrishnan, 2012). Notably, small businesses are
contributing to the creation of employment, reduction of poverty, social togetherness, and
enabling both regional and local development and growth (Neelufer & Al Amri, 2014).
Small businesses are making substantial supports to the social, political, and monetary
environ of most developing and emerging states, including nations that are progressing
and transitioning from closed to open economy (Kumar & Al Maqbali, 2015). It is worth
mentioning that growing and healthy small businesses are essential in attaining
sustainable economic growth and competitive gain at national, regional, and at local
levels.
1.2 Research Background
The small enterprises have an indispensable role in a state's economic status and
evaluating a state’s monetary stability. Noteworthy, Oman falls under the growing stage
of small businesses. In addition, currently, the state is aiming at the development of small
businesses to strengthen the state’s economy. In the year 2013, the Oman government
decided to diversify the economy to create more employment opportunities (Al Bulushi &
Bagum, 2017). The state “decided to move towards ‘Omanization’ which is a strategy to
locate Oman’s people at jobs by removing people of other countries” (Al Bulushi & Bagum,
2017, p.32). Current research, indicate that Ominization depicts the Omani's government
concerns for job creation to its citizens. It is worth noting that small business is a strategy
by which a nation eliminates its joblessness. However, a small business requires a high
degree of state support to begin a business and then, support for the growth approaches.
Arguably, without state support, no small business would run successfully.
To promote small enterprises, the Omani state commenced a few initiatives in the
year intending to reduce joblessness for the country (Ayoob & Balakrishnam, 2012).
Notably, approximately 74 percent of the small enterprises were capable of developing

and growing their enterprises. Nonetheless, the business owners needed a high level of
management and funding (Al Bulushi, 2017). Small enterprises in Oman lack sufficient
capabilities to meet the augmenting consumers’ needs. Though small enterprises in
Oman desire to develop and expand, they front disparate hurdles, thereby curtailing from
succeeding. The hurdles include lack of adequate finance, limited R & D, and market and
labor laws. Other obstacles include government policies and laws, incapability t...


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