Date: November 29, 2020
Diversification is considered as an effective tool in expanding business. To counter the COVID-19 impact and ensure their survival, many small businesses in Oman proactively took steps to protect their businesses. Zubair Small Enterprises Centre (Zubair SEC) member Abdullah Mohammed Saud Al Dughaishi, founder, Gourmet Taste Sweets LLC, a member of Zubair SEC, who is among the winners of the centre’s Direct Support Programme for 2018, diversified his revenue stream.
During COVID-19 when his main business – Gourmet Popcorn – was partly affected, and he decided to pursue his passion for ‘landscaping’ and diversified into the landscape business.
Al Dughaishi explains, “When I started facing the effects of COVID-19, I decided to diversify my source of income. After intense research, I opted to do business related to landscaping which included designing landscapes, laying gardens, called “The View – Decorations”. My new business received a good response, and I was able to obtain eleven contracts during the pandemic.”
While the Oman economy has started to open up, the COVID-19 pandemic continued to have a great impact on the SME community. Cases like Al Dughaishi indicate that SMEs are being resilient in the face of the adversity.
Stressing that diversification is not just about survival, Al Dughaishi says, “I feel it is about proactive growth strategy. Launching new products and type of business can gain you entry to an attractive new industry full of new customers and high sales potential, and sustainable. I am experiencing that right now.”
Adel Hubeishi, Senior Advisor, Zubair SEC, says, “Diversification is usually necessary for survival and growth. We appreciate the efforts of Al Dughaishi to adapt to a business model and find an innovative way to increase income and diversifying into a new market.”
“The pandemic has seen many SMEs introduce new products or services to their existing offerings. Either way, COVID-19 has been a harsh wake-up call for many small business owners and has forced them to think on their feet, and become more innovative quickly. Al Dughaishi has been among those who have found success in the venture”.
Thanking Zubair SEC, Al Dughaishi says, “The centre has been supporting me since I started my business five years and especially after winning the direct support programme. They have rendered support in terms of improving my production line, access to market, figuring out marketing strategy as to how to develop my product to get better market penetration and helping me secure deals with distributors.”
He added, “The confidence to diversify came from the backing I have received from Zubair SEC.”
With an objective to help members to diversify, grow and achieve success, Zubair Small Enterprises Centre (Zubair SEC) organised a ‘Tajribati’ session on importance of diversifying business income. The recently held virtual ‘Tajribati’ session provided an overview on how diversification can be a key business strategy to help SMEs deal with the COVID-19 pandemic and find ways to survive and innovate.
Zubair SEC has gone beyond the traditional notion of a business incubator and moved towards a holistic ecosystem offering partnership, collaboration and affiliation. Since its inception, Zubair SEC members and budding entrepreneurs have benefited from its services. It has played a crucial role in developing a culture of entrepreneurship in the country. The experts at Zubair SEC always put in a lot of effort to back and advice motivated new entrepreneurs and support them in their journey.
Zubair SEC, a social responsibility initiative of The Zubair Corporation (Z-Corp) has facilitated similar business development opportunities for its members in the past. It strongly believes that the support of large organisations to SMEs, mainly through business development and contract opportunities, is of the greatest importance to the development and success of the SME sector.