Sun 11 Feb 2007
How many of you want to start their own business but are not sure how to start?
How many of you want to start their own business but don’t have the capital to start?
How many of you have actually started your own small business?
If so, what were the difficulties you faced in setting it up?
11 Responses to “Small business”
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February 11th, 2007 at 10:39 am
I started my own business when i was back in Lebanon, actually had a small one set up (writing term papers and had a team of 5 working for me - good business) and had started a magazing which I couldnt continue cos i moved to kuwait. Trying to start one here but dont know where or how to start or what the legal procedure is or where to find some capital support. All i got are ideas.
February 11th, 2007 at 10:44 am
just started mine
if u dont have at least 10,000 kd
plus was6a
plus connections with the mafia”you know who am talking about”
it will be hard
February 11th, 2007 at 11:54 am
Lack of ideas, and money. Plus I am a bit lazy
February 11th, 2007 at 2:34 pm
i am looking at my blog as my small buisness bas i didnt get any $$ out of it:(
no no , honestly i lack of ideas:(
February 11th, 2007 at 9:08 pm
I have soooo many ideas! bas im young and so ‘i don’t know enough to be provided with a capital’ :/ o bringing krispy kreme to kuwait was MY idea!! :p
February 12th, 2007 at 2:40 am
I have started with some of my friends a business 4 years ago and I can tell you some of the problems we faced at the begining:
1. Establishing the company. It takes a long time !! at least a month to complete the paper work.
2. Hiring quality ppl for your business. You would not believe how many low quality useless workers we have in Kuwait (mainly non-kuwaitis)
3. Finding a reasonable size office in a reasonable area with reasonable rent !
My advice is that before you start the process to establish a business know exactly what you want to do, understand your business and who you are targeting.Also understand the market and the competetion. Be very patient with the process
and the most important part, pick the right partners for your business (i have been lucky with mine).
Believe me there is so much potential in Kuwait for small businesses.
Good luck
February 12th, 2007 at 4:26 am
Salam,
From experience, I can tell you the best business is a service business. I think a small resturant business in Kuwait could make it.
-First, you have to have enough money to pay yourself and your business for a whole year, once you got that established, come up with a business plan, Service! Retail! Then once you decide.
-Find your Niche! Find something that differenctiate you from your competition, Unique product! excellent customer service! Quality product!
-Find good labor (recruit the best) invest in them, empower them.
-Advertise, although Best advertisement is word of mouth.
-Dont grow too thin or too fast, reinvest money you make from your business into your company.
That’s the way it is in the US, not sure about Kuwait.
http://www.entrepreneur.com/startingabusiness/howtoguides/index115868.html
Guides for Starting a Business
Business Licenses and Permits
Business Structure Basics
Buy an Existing Business
Create a Great Business Card
Create a Logo
Find a Great Location for Your Business
Find Product Sources
Freelance Your Expertise
Hire an Attorney
Hire and Orient a New Employee
Name Your Business
Paying Yourself: From Startup and Beyond
Research Your Business Idea
Start a Kiosk Business
Start a Service Business
Start an E-Commerce Business
The Basics of Money Management
Value Your Startup
What Should You Charge?
Write Your Marketing Plan
Please
February 12th, 2007 at 9:07 am
Fonzy, u said u tried to start a business here, what did you do?
bomaryoom, i disagree with the 10,000 kd thing, but agree on the mafia part! I think you can start a business like urs with a small capital and still be more successful than businesses with more capital but less creativity.
Green Data, lol! no hope?
KM, did you consider putting an ad like mine on ur blog? its not that much $$ but still its better than nothing!
dana, as long as u have the ambition to start these kinds of ventures at a young age, then u should be fine i think! And between you and me, im not a big fan of Krispy Kreme and dont think its a great idea in the long term.
QAR, good points. Im glad u got the right partners, which is definitely a major issue! I also dont think many new businesses here even consider studying the market before starting! And about ur 3 points, I think the first and last could and should be solved by the government!!
The amount of time to get anything started is ridiculous and is very discouraging to many individuals! Also, the whole idea of having to rent an office even though u have a “small business” idea isnt that great! I know that the economic society (iljam3iya aliqtisadiya) are trying to push forward some kind of legislation that would make it possible to start a home-based business! I really hope that goes through! The quality of employees is a tough one i would think even though i havent looked!
Palforce, great information and thx for the link! U started off saying that “from experience”, what exactly was ur experience in starting a business and how did that go?
February 14th, 2007 at 3:06 am
My two cents:
I would with the comfort of having someone do the grunt work…. (i.e., write the business plan, look for the capital..etc).
One thing most people must ask themselves before starting a business:
Am I the right person to run a/this business?! I think many people assume that the creator/brainstormer/strategic-planner knows best on how to run the business. But in numerous cases that is not the case and can cause a good idea/business to fail.
I guess what I’m trying to say, is that some of us would like to start a business, but realize that at the end of the day, they can’t be the “Top Dog”, someone else has to play that role for the SUCCESS of the BUSINESS they created!
—– SA
April 7th, 2008 at 1:43 pm
pls. advise to start up a small business in kuwait
October 2nd, 2008 at 10:24 pm
hello !
i want to build a houses for learning quran and a mosque in a poor city in my country so i have no enough capital to do this if someone interest in this just contact me
bill_01@hotmail.com
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