Impact of COVID-19 on Innovation and Entrepreneurship: Small and Medium Enterprises in Oman

Innovation and entrepreneurship are vital sectors in establishing small and medium enterprises which are leading most countries’ economies. However, these sectors are affected by government decisions to control the COVID-19 pandemicPandemic situations and sudden economic recession which have occurred in correlation. SMEs Development Authority in the Sultanate of Oman affected and monitored these changes. This chapter comes to identify challenges and opportunitiesOpportunities were found at the Small and Medium Enterprises in Sultanate of Oman during COVID-19 pandemicPandemic. Also, to show statistical analysis of entrepreneurship card members during the period (2016–2022) as the most initiative at SMEs Development Authority in Sultanate of Oman. A qualitative descriptive approach is adopted; so semi-open interviews are used with managers and stakeholders to obtain accurate information. The findings show that there are three main opportunitiesOpportunities sections: Technology support, financial and economy, and market. The pandemicPandemic period was a real dilemma for the economy, there was a lack of demand for services and products due to the lockdown. Therefore, almost all enterprises stopped in that period due to zero revenue. This chapter recommended to prepare accurate strategy planning in risk management and provide services and facilities to entrepreneurs without lockdown and quarantine policy in another pandemicPandemic.