Critical Review of Entrepreneurship in Oman

Abstract

Entrepreneurship has assumed super importance for accelerating economic growth both in developed and developing countries. It promotes capital formation and creates wealth in country. It is hope and dreams of millions of individuals around the world. It reduces unemployment and poverty and it is a pathway to prosper. The word entrepreneur is of French origin and literally means the person that takes between – the middlemen; in a more free translation, the individual who pursues a commercial activity. In spite of various studies, defining entrepreneurship is still a major dispute among researchers and the word entrepreneur still has no common meaning among the academic community. So, espousing a very broad definition for entrepreneurship that incorporates business owners and self-employed individuals and adopting a grounded theory approach with in depth literature review of published documents and data, the core of this chapter is to review critically entrepreneurship in the Middle East with specific focus on Oman.