Enhancing sustainability and competitiveness of self-funded SMEs: The hotel model

Abstract

This study introduces the SME Hotel Model, a centralized service framework to address the challenges faced by self-funded SMEs, such as limited financing and market barriers. The model promotes resource sharing, innovation, and cost efficiency to enhance the sustainability and competitiveness of SMEs, especially in emerging markets. A mixed-methods approach was adopted to assess the impact of the SME Hotel Model on sustainability, competitiveness, and resilience in self-funded SMEs in Oman. Data were collected from Oman. The SME Hotel Model enhances sustainability by enabling resource sharing and cost reduction. It fosters innovation, boosts competitiveness, and strengthens resilience, helping self-funded SMEs overcome financial constraints. The study also highlights the role of digital adoption in scalability. The SME Hotel Model supports self-funded SMEs in Oman by centralizing services and fostering innovation, aligning with Vision 2040. It promotes economic diversification and highlights the need for supportive frameworks to drive growth. It offers insights for policymakers and business leaders, emphasizing the need for policies that support resource sharing and digital transformation in SMEs, advocating to help self-funded SMEs overcome challenges, drive growth, and contribute to economic diversification in Oman.