In its most basic form, management accounting allows a business to control its operations and take informed decisions in line with its performance objectives. For small and growing businesses, management accounting is a way to ensure that the business stays within its means as it grows. Indeed, management accounting is crucial for entrepreneurs as it
“With more than 18 years’ experience in the fisheries sector, we knew Dawood had it in him to make it big. With the right finance and strategic assistance on business and financial planning, we set Five Oceans on the path to success,” says Sami Al Hassan, Investment Executive, GroFin, manager of the Nomou Oman Fund.
Set up in 2011, Arabia Global Resources LLC (AGR) started its laterite ore mining operations in May 2013. The quarry is located 40km outside the town of Ibra, 201km from Muscat. Laterite is mostly sold from the quarry to Emirati and Omani cement companies. Local Omani entrepreneurs Shaikh Faisal Al-Junaiby and Mr Ali Al Saadi
Al Duqm Crushers, a Dolomite mining concern based in Oman and a Nomou Oman client, was started with the intent of supplying Dolomite to overseas markets in Dubai, Abu Dhabi, Qatar and India. The company specialises in the extraction and manufacture of the highest quality quarry materials – predominantly for export to the steel-manufacturing industry,
Saif Amor Al-Maamary first came to GroFin in 2013 for a loan facility for his electronics trading business, Ibn Amor Al-Maamary Electronics (IAAE). At that time, Saif was looking at expanding IAAE’s operations to include manufacturing, which placed the business in a higher risk profile. GroFin believed in Saif and funded his foray into manufacturing,
The Oman SME Summit, themed “Reinvigorating the SME Market in Oman” this year, saw the participation of GroFin as panellist for the discussion titled “Review of Funds and programs in place for SMEs, their status and the way forward.” This initiative aims at creating awareness on the various funds and programs established to encourage entrepreneurship in Oman. The
Al-Bassam International Enterprise trading as My School It can be difficult to find a partner to support and finance the entrepreneurial dream of a start-up. Nabil Al Raisi and his wife Samia vowed to make My School an even better and bigger learning place when they saw their school’s classrooms over populated after only a