34% Omanis view entrepreneurship as ideal profession

MUSCAT: Around 34 per cent of Omanis ranked “running my own business” as their ideal job, according to Oxford Strategic Consulting’s latest Oman Employment Report: Insights for 2016.
Similar views on entrepreneurship as an ideal job role were reflected in Qatar (41 per cent) and Saudi Arabia (37 per cent), however, only 11 per cent of Emiratis surveyed viewed “running my own business” as an ideal role.
This inclination toward entrepreneurship in the Sultanate can help Omanis in transitioning away from public sector roles and towards private sector enterprises.
The report’s findings revealed the following innovative employment strategies for entrepreneurs and future business leaders in Oman.
Nearly three out of four Omanis listed money (76 per cent) as a top motivator, with challenge (28 per cent) and travel (28 per cent) being the next closest motivators. Yet, more than a third of Omanis consider entrepreneurship to be their ideal job.
Rather than simply increasing public and private sector wages, Oxford Strategic Consulting recommended that the government should provide additional, targeted support for budding Omani entrepreneurs, including perhaps government employees themselves. In order to maximise investment in entrepreneurship, high-potential entrepreneurs, who actually contribute to employment growth, known as “Gazelles,” should be identified and supported by the government.
Providing seed funding and early support for high-potential Omani entrepreneurs is much more cost-effective than employing an equivalent number of public sector employees for an entire career. Oxford Strategic Consulting’s previous research started to identify key personal characteristics of these “Gazelles.”
Develop natural business leaders for private sector roles. A further 22 per cent of Omani respondents wanted to be business leaders and 17 per cent wanted to join their family business. Administration (28 per cent), Engineering (16 per cent) and Accountancy (16 per cent) were also popular career choices for Omanis.
Natural business leaders should be groomed for private sector roles by receiving globally recognised professional qualifications, such as those from the Chartered Management Institute and the Chartered Institute of Personnel and Development.
Listen to Omanis create effective employment campaigns. Oxford Strategic Consulting believes that any employment campaign must take into account the actual employment preferences of Omani job seekers.
Oxford Strategic Consulting’s report found that females were significantly more likely than males to consider their ideal role in Human Resources (18 per cent vs. 8 per cent). Those working in Muscat were also most likely to consider Human Resources (19 per cent) to be their ideal role. Omanis working in Sohar are the most likely to consider their ideal role in Engineering (21 per cent), while those working in Sur are the most likely to want to join the family business (29 per cent).