Entrepreneurial Preferences in Oman: A Gender-based differentiation analysis

Abstract

Purpose: The research objective was to critically analyze the factors responsible for the gender differences in Oman Entrepreneurship and to critically analyze the prevailing gender differences amongst the motivating factors and the survival factors in running the businesses in Oman. Design/methodology/approach: The research data was collected using a well-structured questionnaire and the data was obtained personally. 381 samples were collected from the population who were reported to be successful entrepreneurs. The selection was obtained from the entrepreneurs’ list provided by the Government Scheme Agencies in Oman like SANAD/RIYADA and the analysis was done using SPSS. Findings: The study revealed that both genders considered ‘To obtain a social status’, ‘To use innovative ideas’, ‘To become own boss’, and ‘Success of other entrepreneurs’ as the motivating factors. Further, males have also considered experiences and professional contacts whereas females have considered working independently and excelling with their self-confidence. The study also revealed that both genders insisted on Start-up capital, Self-confidence, Working capital, and Previous business experience, and Religious consciousness factors as the essential factors to run the businesses. Further, male entrepreneurs considered Training as one of the factors required to run the business whereas the female entrepreneurs considered the Right choice of location as a required factor. Research limitations/implications: It is recommended to address the gender differences of entrepreneurship in policies to support private-sector development in Oman and to design effective Entrepreneurship education programs for the future. It is required to follow up on the performance of the female-owned entrepreneurial start-ups so that their goals and objectives can be successfully fulfilled during their life cycle. It is also suggested that the training should be considered essential when designing strategies and policies stimulating entrepreneurial activity for both male and female entrepreneurs. Social implications: Through gender differences, the trends in marketing can be identified which will help to raise awareness for how to improve global marketing standards. Facilitating timely finance in the form of start-up capital, working capital is a must as the entrepreneurs in Oman consider financial assistance as a must to run the business. Previous business experience or educating them to gain experience in the line of their business interest will enable the entrepreneurs to become successful entrepreneurs. Originality/Value: There is no study on gender differences that have been carried out in Oman within entrepreneurial activities. This paper examines the gender difference prevailing amidst entrepreneurship in Oman. This research included only the successful entrepreneurs who were advanced under the Governmental Schemes through RIYADA/SANAD, Oman.