Are you interested in starting a business in Oman? If Yes, here are the top 10 best small business ideas & investment opportunities in Oman.
Oman is an Arab country that is located in the Southwestern part of the Asian continent. Muscat is the capital and largest city of Oman. Oman shares borders with 5 countries and the countries are Saudi Arabia, United Arab Emirates, Yemen, Iran (marine border) and Pakistan (marine border). Omani Arabic is the official language of Oman.
Oman is classified as a high income economy despite the fact that it is not a top oil producing nation like its oil rich neighbors. The standard of living in Oman is high compared to other countries in the region where it belongs.
Despite having limited reserves of oil and natural gas, the oil and natural gas sector still remains the highest contributor to the gross domestic products – GDP of Oman. The Agric sector which produces grains, vegetables, lime and dates is another major income generator for Oman. Recently, the government of Oman is improvising on how to open up the tourism sector to investors.
Since Oman largely depends on imported goods, the government of Oman is working towards establishing policies that would encourage foreign investors to come invest in Oman. If you are an investor and you are looking for one of the safest Arab nations to establish your business, then you should look towards Oman. These are some of the viable and profitable business opportunities that are available in Oman:
Top 10 Small Business Investment Opportunities in Oman
1. Grain Farming
Grain is a stable food that is consumed in Oman and grain happens to be one of the top agricultural produce in Oman. If you are thinking toward investing in the agric sector in Oman, then you should consider establishing your own grain farm. The truth is that farming land is easy and cheap to buy in Oman.
Another key produce from the agric sector in Oman is vegetable. The only minor challenge with vegetable farming in Oman is that you would have to construct irrigation to help water your crops. The market for vegetable is large and localized.
Vegetables are not exported from Oman, but Omanis are known to consume all the vegetables cultivated in the country. So, if you are looking to invest in the agric sector in Oman, then you should also consider starting your own vegetable farm. It is indeed a profitable venture.
The good thing about this industry is that the government of Oman is truly doing all it could to encourage tourist to visit Oman, because they see it as another major income generator for the country especially with their limited oil and natural gas reserve -the government is looking beyond the oil and gas industry.
If you are looking for a business that is promising and has great future in Oman, then you should consider positioning yourself in the tourism sector by establishing your own travels and tours business. The industry might not rake in huge returns at the moment, but it will sure do in the long run.
If you intend building a business portfolio in the oil and gas sector in Oman, then you should consider opening your own filling station. Most filling stations in Oman have pumps designated for petrol, diesel, and kerosene.
You would need to obtain a license and permission from the government of Oman before you can be permitted to build your filling station. It is indeed a thriving business especially if you establish your filling station along the road that is prone to high vehicular traffic. You can also maximize profits by opening a convenience store in your filling station.
Oman is known to be a heavy import nation. Haulage business is known to rake in huge profits and it is still very much open for more investors. If you have the intention of establishing a business in Oman, then you should consider starting your own Haulage Business.
The truth is that there are loads of goods that are transported from the seaports to warehouses that are scattered all over the country. If you are well positioned, you will make huge profits running your own haulage business.
6. Perfume Shop
Another simple but profitable business to start as an entrepreneur in Oman is perfume business. All you need to do to get started with this kind of business is to rent a shop that is situated in a densely polluted area and also ensure that you stock your shop with various designers’ perfumes.
7. Electronics and Home Appliances Store
Electronics and Home Appliances Store is another thriving business you can start in Oman. If you want to maximize profits in this business, it will be advisable for you to go into importation of the goods since Oman is not known to manufacture electronics and home appliances.
8. Facility Maintenance Company
What facility Maintenance Company does is that they help organization clean their facilities, fix electrical faults, fix plumbing problems and maintain their power plants, et al. If you establish your own facility maintenance company in Oman, you will have enough clients to work for.
Restaurant and Bar might not be too common in Oman, but it is indeed a flourishing business enterprise. By virtue of the culture of Arab people, i.e. the Islamic culture, people aren’t permitted to drink alcohol in public places. But this is different in Oman, because Omanis are allowed to drink alcohol in bars. So even if you open you restaurant in Oman, you can maximize profits by attaching a bar to it.
10. Commodity Store
It is not news that Oman depends largely on imported goods, what is news is that you can make great returns one your investment if you know how to get cheap commodities to stock your store. Dealing in commodities is a thriving business in Oman especially if you are not limited to certain products or brands. The wider the options people have when they come shopping in your store, the more the customers you will attract to your shop.
Oman might not be the best of places to start small and medium scale enterprise, but if you are hard working and committed to your business, you will surely succeed with it.