Sharakah, Oman’s premier SME development firm has as signed a Memorandum of Understanding (MoU) with Entrepreneurs’ Organisation (EO) Oman, a local chapter of the global business network dedicated to enabling business owners to learn from each other and achieve greater business success. This collaboration aims to enhance SME development in Oman by leveraging the strengths and resources of both organisations to create a supportive ecosystem for small businesses.
The MoU outlines the terms of cooperation between Sharakah and EO Oman, focusing on providing funding, mentorship, networking opportunities, and promoting entrepreneurial best practices. Through this partnership, Sharakah aims to spread awareness about the importance of entrepreneurship and SMEs, offering financial support and consultation services to help businesses thrive.
Commenting on the MoU, Ali Ahmed Muqaibal, CEO of Sharakah, “By partnering with EO Oman, we are strengthening our commitment to fostering a vibrant SME sector in Oman. This collaboration will enable us to provide even greater support to entrepreneurs, helping them turn their ideas into successful enterprises.”
EO Oman, known for empowering its chapters with increased autonomy and resources, will bring its extensive network and expertise to the table.
Amro Al Siyabi, EO Accelerator program president of Oman added, “Partnering with Sharakah allows us to extend our support to more entrepreneurs in Oman, helping them navigate their business journeys with greater confidence and success. Together, we can create a thriving ecosystem for SMEs.”
As part of the MoU, Sharakah will prioritise providing funding opportunities to SMEs that are members of EO or participate in EO’s programmes. Additionally, Sharakah will offer mentorship and advisory services, developing programmes where experienced business leaders provide one-on-one guidance to EO-affiliated SMEs. These services will cover various aspects of business development, including strategy, operations, and growth, helping SMEs navigate challenges and seize opportunities.
Sharakah will also actively promote EO’s activities, initiatives, and programmes within its network through communication channels such as newsletters, social media, and website updates. EO representatives will be invited to Sharakah’s events, including conferences, seminars, and networking gatherings, offering opportunities to speak and share their expertise.
Networking event
To celebrate this partnership and facilitate networking opportunities, a special networking event was held at the Hormuz Grand Muscat, A Radisson Collection Hotel – Sacra Ballroom. This event aimed to introduce SMEs to the benefits and opportunities available through the EO Accelerator programme and Sharakah services. Approximately 35 to 45 invitees, including EO members in Oman and SMEs from Sharakah’s current and past programmes, attended. SMEs who participated in the networking event gained access to invaluable resources and industry insights, helping them increase visibility and draw inspiration from success stories.
