Entrepreneurship Ecosystem: An Appraisal for Sultanate of Oman Using the Ease of Doing Business Index

Abstract

Abstract Today, promoting and nurturing entrepreneurship is a core component of economic development in countries around the world. Fostering entrepreneurship as an economic development strategy necessitates a suitable ecosystem which can be termed as “entrepreneurship ecosystem.” Isenberg’s (2011) model of an entrepreneurship ecosystem contains six domains, namely a conducive culture, enabling policies and leadership, availability of appropriate finance, quality human capital, venture-friendly markets for products, and a range of institutional and infrastructural supports. All of these six domains are composed of fifty specific components. The policies enacted by governments deal with institutions, financial support, regulatory framework incentives, research institutes and venture friendly legislation. This study in its current form shall assess the regulatory and institutional framework aspect of the entrepreneurship ecosystem in Sultanate of Oman. This assessment shall be done from 2012 to 2019 using the Ease of Doing Business Index as published by the World Bank. This exercise will help to know the change in ease of doing business in Oman for the years under consideration and thus assess the changes in regulatory and institutional framework aspect of entrepreneurship ecosystem in the country.