International Journal of Entrepreneurship (Print ISSN: 1099-9264; Online ISSN: 1939-4675)

Abstract

Understanding the Paradoxical Drop in Growth of Small and Medium Entrepreneurs-Cause, Challenges and Concerns

Author(s): Mishra R, Mishra G P, Mishra K L, Hatmi B,

Considering importance of small and medium enterprises (SMEs) in contribution to economic development of any country, many governments have paid attention to ensure their success and help lending support in case of crisis. Presently small and medium entrepreneurs from the Middle East nations face crucial challenges to sustain due to looming oil crisis and there have been reports of declining of SME's. A survey was conducted on n=147 Small and medium entrepreneurs in the Muscat city of Oman to understand the cause of drop in number of small and medium entrepreneurs and their challenges and concerns along with employment issues in the wake of deepening oil crisis. Their views are expressed in this study and after summarising their views it was found that there are many challenges that are required to overcome, including financial and marketing conditions before the smooth ride. Suggestions and directions for future research have also been incorporated in this study.