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What are three major considerations to be made by those thinking of starting a business in Saudi Arabia ?

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Question added by Parvez Shaikh
Date Posted: 2016/05/24
mohamed Hakim CMA CPA Candidate
by mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

1- get smart people to work  with including Staff & good bank to do your Transactions

2- market your self get strong sales team 

3-Complete you Governmental Procedures 

Emmanuel Wamweta
by Emmanuel Wamweta , production supervisor , Tembo Steel Rolling

I am not a consultant in middle East but let me give you a general overview of starting up a business in another country or foreign country.

1. Economic Environment: income levels of potential customers, inflation rates, interest rates in case of loan aquisition & debt financing, exhange rates, business cycle for instance look out for a boom but not recession or depression, tarrifs.

2. Social/ cultural Environment: attitudes & values of potential customers & publics, education levels, beliefs & supersitions, Aesthetics like symbols, arts used need to be understood clearly.

3. political/legal Environment: stability of government, international relations, government attitude toward foreign investment, price legislation, import & export controls, informal relations betwen government officials & businesses. 4. Technological aspects: trends, gains in productivity for instance more output per units of input, reduced costs. 5. Micro Environment: nature of suppliers, extent of competition, marketing intermediaries, publics-insitutions that may be interested in our products, number of potential customers. 6. Internal Environment: nature of human resource you are toemployee, capital requirements, materials & effect of stakeholders.

Mohamed Abdelhak
by Mohamed Abdelhak , Translator , Translind for Translation Services

1.You must have a good knowledge of the region before starting your strategies.2.You must have a professional agenda of Profit and lose in the same region, etc;.3.You supposed to be the perfect sales and marketing manager to hire the proficient sales and marketing team who will be the most important factor before lunching your business.

Mohammed Asim Nehal
by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

Find a good sponsor 

Hire a legal advisor

Chose a suitable business partner

Mohammed  Ashraf
by Mohammed Ashraf , Director of International Business , Saqr Al-Khayala Group

1-      Financial stability and  reliable sponsorship system.

2-      Excellent business team with successful market strategies.

3-      Detailed business plan/ design  and feasibility study. 

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