The new registrations of small and medium enterprises (SMEs) in the Sultanate witnessed a marked fall in January-February period of 2018, compared to the same period of last year.
The new registrations of SMEs during the first two months of this year slipped by 34.1 per cent to 1,204 units, from 1,826 new SME registrations in the same period of 2017, according to the monthly data released by the National Centre for Statistics and Information (NCSI).
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, the Governorate of Muscat witnessed 448 new SME registrations (or 37 per cent of total registrations in the country) in January-February period of 2018, down from 598 new registrations in the same period of last year, added NCSI report, quoting the Public Authority for Small and Medium Enterprises Development (Riyada) data.
The new registrations of SMEs in Al-Batinah North stood at 171 in the first two months of 2018, against 259 for the same period of last year, constituting 14 per cent share in total new registrations during January-February period.
This was followed by A’Dhakiliyah (134), Al-Batinah South (90), Dhofar (86), A’Sharyqiyah North (81), A’Sharyqiyah South (75), A’Dhahirah (64), Al-Buraimi (39), Al-Wusta (12) and Musandam (4).
As many as 31,835 new SME units were registered in the Sultanate in 2017, the NCSI report shows. Of this, 10,260 new units were in the Governorate of Muscat.