Results & Discussion of Problems faced by the small and medium enterprises and their solutions

In the research, more than 250 respondents were included to fill the questionnaire and all the repo dents were categorized on the basis of age limits. The business experience highlighted issues and challenges during the expansion and growth of the business. The data was then further categorized according to gender consideration (Christina, Neelufer, & Amri, 2014). Oman is mainly male dominating country and they never provide equal rights to the women, therefore, business companies are owned by the males but rare data was collected from the female respondents. According to the respondents SMEs of Oman are not facing available for the credits of long term. The working capital management was not appropriate and up to the requirement (Bilal, 2010).

The response of the majority of the respondent about the cost of the finance defined the higher cost of financials in Oman. The growth strategies were considered for the hurdles, challenges, and issues. The gain of finance should be lower for the appropriate growth so the small and medium size enterprises can easily pay the loan back. Majority of the respondents showed that lack of access toward the new technology induced a negative impact on the development and growth strategies (Christina, Neelufer, & Amri, 2014). The prime cause is lack of use of technology in the workplace. The main reasons for the issues are an investment in R and D for the proper technology selection, lack of capital, lack of development and research (Bulushi & Bagum, 2017).