Open AccessEntrepreneurship and factors of Intention among Omanis
Author(s) -
Subrahmanian Muthuraman,
AUTHOR_ID,
Mohammed Al-Haziaz,
Rengarajan Veerasamy,
Nasser Al Yahyaei,
AUTHOR_ID,
AUTHOR_ID,
AUTHOR_ID
Publication year - 2022
Publication title -
ymer
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.103
H-Index - 5
ISSN - 0044-0477
DOI - 10.37896/ymer21.01/61
Subject(s) - entrepreneurship , government (linguistics) , marketing , test (biology) , quality (philosophy) , business , regression analysis , computer science , finance , paleontology , linguistics , philosophy , epistemology , machine learning , biology
Oman Vision 2040 has a specific emphasis on entrepreneurship development. High quality of entrepreneurial activities, at present generates positive impact on nationals and subsequently determines an improvement on the business environment. The strategy has laid the development of the new enterprise in its priorities to diversify the national economy and reduce its heavy reliance on oil that is witnessing greater price volatility in the global market. The study attempts to assess entrepreneurial intentions among Omanis in relation to independent variable such as personal attitude, professional attraction, subjective norms, and perceived behavior control. A structured questionnaire was used to collect data from 174 young Omanis from the Sultanate of Oman and was analyzed with Chi Square, Pearson Correlation Test, Spearman Correlation Test and Multiple Linear Regression. However, it is revealed that the regression model is a good fit of the data. There is an increase, and interest amongst the Omanis with respect to entrepreneurship and innovation. The study shall recommend that the focus of government programs should be supporting new entrepreneurs to reach out to global markets, and to extend support to accelerate small business, support, and sustain them. The government should realize the aspirant entrepreneur ambitions to develop a holistic strategy with very clear pathways, outputs, KPIs, and collaborate with other SME ecosystem and key stakeholders to achieve Oman Vision 2040 goals.