How to Start a Business in Kuwait, The Challenges

there was a time when many people went Kuwait for business purposes. Conducting business in Kuwait today is not as easy as many think or assume. It is not mission impossible for those who can draw up a plan and make objectives clear and easy to implement. Of course, any theory which you cannot implement is wasteful. So, for those who follow a clear-cut strategy and a vision about what is really going on in the local market and how to achieve their aims, yes, businesses would be easy.

Old Business Owners:Two main thoughts here, first, that these are old business owners. They have been present in the local market for ages. They know how to keep their feet firmly planted on the ground. They know when to move and how to and where. Secondly, it is a fact that Kuwaiti society is small and there is a code that makes everything happen. For instance, if you do not follow the rules and try to fool someone, this marks the end of your reputation as decent business owners. Companies that good will not accept to cond
uct business with you.

As far a new company is concerned , there may be many difficulties to overcome. I believe that any new company needs to prepare its homework well and study their objectives in the local market before establishing businesses and starting usual procedures by renting offices and hiring staff to avoid major challenges. These are the usual concerns to expand business. Maybe hiring a consultant or a financial adviser would not be a bad idea to avoid making extra payment.

Also, a huge difference exists between small and big companies in term of size. Financial capability as well as the power of influence wielded by competitors and decision makers wil be able to expedite the process itself. Many think it is slow in Kuwait when compared to many other countries in the region. This tool can be easily used to affect others negatively and create non-existent fears.
Local Rules:
Another issue is the possible problems that arise from government regulations and local rules. This is an issue that should not be undermined or ignored. For example, every foreign investor here requires a local Kuwaiti sponsor. The laws cannot be circumvented.

Governmental Rules are a challenge when it comes to establishing a business. So, understanding the local system is a challenge. When you get to understand its needs and how it works, everything runs smoothly.

The Product Quality;There is another subject matter here, that is the product quality. It is the unspoken challenge. In fact, to import a high quality product is great but not easy. However, meeting international standards are possible. It requires commitment to supply a product that exceeds expectations.

As no fierce competition exists, enforcement of laws and country regulations are needed to keep everything under control and supervised. This is to avoid fraudulence and cheating . One must be very very careful and vigilante while starting a business in Kuwait.