Date: January 24, 2019
To drive the growth of aspiring Omani entrepreneurs and its members, Zubair Small Enterprises Centre (Zubair SEC) has signed a Memorandum of Understanding (MoU) with Hempel Paints Oman. This partnership will enable Zubair SEC members and aspiring Omani entrepreneurs get franchise opportunities from Hempel Paints Oman.
Hempel Paints Oman LLC, a manufacturer and supplier of coatings, varnishes, primers and paint related products in Oman has entered this partnership with an intention to promote Omani entrepreneurship related to its field of operation. The agreement is expected to provide great scope for business development and market penetration for Omani entrepreneurs.
Zubair SEC and Hempel Paints through the framework of the MoU aim to further support and empower aspiring Omani entrepreneurs and help where possible to establish their business through loans granted by financing bodies which fund, support, encourage and promote the entrepreneurial growth in Oman.
As per the framework of the MOU, Zubair SEC will act as a facilitator to Hempel in terms of identifying and supporting Omani entrepreneurs. Zubair SEC will help in generating leads for the new Omani entrepreneurs who wish to start a small business-related to Hempel’s areas of operation. They will also evaluate and support the leads (Omani entrepreneurs) suggested by Hempel Oman, by supporting them through interactive sessions. Zubair SEC will also help interested Omani entrepreneurs to prepare a feasibility study before applying for the loan to funding organisations and provide all necessary directions and mentorship to the Omani entrepreneurs in getting business loans. The centre will assist Hempel in promoting the initiatives covered by this MOU with an aim to achieve maximum success.
As per the agreement Hempel will collaborate with Zubair SEC and will work in close coordination with Zubair SEC and provide all necessary assistance requested form Zubair SEC from time to time. Hempel will extend all the necessary support in terms of technical and training sessions and will assist in further promoting Zubair SEC and create awareness about its services.
Expressing delight over signing the MOU, Mr. Jacob Kuruvilla – Country Manager for Hempel Oman said, “We are pleased to announce this partnership and are certain that this will create a successful model for Omani entrepreneurs. Zubair SEC has built a vibrant entrepreneurial landscape and a strong base for its members and aspiring Omani entrepreneurs. The experts at Zubair SEC always put in a lot of effort to support and advice motivated new entrepreneurs and support them in their journey. We are happy to be able to contribute to the development of the SME sector in Oman.”
“Emphasising such agreements allows the centre to demonstrate its intention to support members”, said Adel Hubaishi, Senior Advisor at Zubair SEC. He added, “This MoU aims at providing platforms for aspiring Omani entrepreneurs to launch a new business model. We appreciate this gesture made by Hempel Oman. Franchising is one of the most popular strategies for cost-effective and rapid expansion of a business. This MoU is part of our strategy to keep looking for opportunities for our members and new entrepreneurs to develop and expand new businesses.”
Zubair SEC, a social responsibility initiative of The Zubair Corporation 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.