SME registrations drop 14% till July
The registration rate of small and medium enterprises (SMEs) in the sultanate’s governorates decreased by 14.4 per cent by the end of July 2019 to reach 3,037 enterprises, compared to 3,546 enterprises in the same period of 2018. The total number of SMEs reached 37,289 by the end of 2018.
A number of governorates in the sultanate registered a growth in the registration of SMEs. The Governorate of Al Wusta came first with a rise rate of 82.6 per cent. The number of enterprises registered at the end of July 2019 increased to 42 SMEs compared with 23 SMEs in the same period of 2018.
The Governorate of North Batinah also recorded an increase of 0.9 per cent, to 563 SMEs in 2019 compared to 558 SMEs in the same period in 2018, according to the monthly statistical bulletin of the National Center for Statistics and Information (NCSI).
On the other hand, the Governorate of Buraimi recorded a decrease in the registration of SMEs by 36.8 per cent, reaching 74 enterprises in July 2019, compared to 117 enterprises in the same period in 2018, followed by the Governorate of Dakhliyah with a decrease of 29.3 percent as the number stood at 287 SMEs compared to 406 SMEs.
The Governorate of North Sharqiyah reported a decline of 22.4 per cent in the registration of SMEs to 184 compared to 237 SMEs in the same period of last year, followed by the Governorate of South Sharqiyah with 18.4 per cent to register 168 SMEs, compared to 206 SMEs in the same period of last year, followed by the Governorate of Muscat with a drop of 15.4 per cent with 1099 SMEs, compared to 1,299 SMEs, according to NCSI data.
The Governorate of South Batinah recorded a decrease of 14.7 per cent with 233 SMEs, compared to 273 SMEs, followed by the Governorate of Dhahirah by 11.6 per cent, with 153 SMEs, compared to 173 SMEs in July 2018. The Governorate of Dhofar reported a decline of 8 per cent with 219 SMEs, compared to 238 SMEs in the same period a year ago.