Al Busaidy Mansoor Jamal & Co.

Barristers and Legal Consultants

AMJ seminar for SMEs on setting up business in Oman

Filed under News, Oman Business, Oman Commercial Laws, SMEs, Tax Law

AMJ, in partnership with the Oman American Business Centre (OABC), organised a seminar on corporate law and finance for SMEs in Oman.

Presented by AMJ senior associate Asad Qayyum, and entitled ‘Survive to Five: Navigating Financial and Legal Aspects for Companies in Oman’, the seminar was designed to help start-ups and companies in the early stages of development. It highlighted a number of common pitfalls faced by entrepreneurs regardless of the sector in which they operate.

Qayyum noted that “Setting up and running a business can be very exciting and rewarding. However, no how brilliant the business idea is, without a solid legal and financial foundation, entrepreneurs run the risk of becoming one of the ‘4 out of five’ startups that statistically fail in the first five years.”

He provided participants with insights on the legal and financial frameworks essential for success, incentives and concessions available in Oman for SMEs, advice on tax and finance, employment, intellectual property protection and the all-important role of networking organisations such as the OABC.