Becoming An Entrepreneur In Kuwait: Some Business Ideas To Consider
There are many things preventing people in Kuwait from pursuing entrepreneurship: fear of the risks involved, lack of funds, and red tape in business registration, among others. One reason often overlooked is that people don’t know what Kuwait business ideas to explore.
Of course, there are many businesses one can start in Kuwait but since the goal of the entrepreneur is to make a profit, the point is to focus on business opportunities where demand is high.
In what follows, we consider some business opportunities that meet this condition in the current Kuwaiti economic climate.
Car Wash
Kuwaitis love cars and it is no surprise that it has the highest car ownership rate per capita in the MENA region. And with people generally too busy to wash their cars (or just unwilling to go through the stress), you can be sure that there will always be a consistent demand for a car wash.
The most important thing is to select the right location – proximity to a busy road, large space, ease of access, among others.
Restaurant, Eatery, Or Catering Business
Kuwait is a melting point with people from various countries working and living in the country. There are more foreign nationals than Kuwaiti citizens.
One consequence of this is that people are craving their local delicacies – they want a taste of home away from home with many people willing to pay a premium for them.
Starting a food business that gives people what they want is a no-brainer.
Again, location is important. Consider places where foreign nationals tend to live in large numbers. You will also need to invest in learning how to cook these delicacies or hiring those who already do.
Child Daycare
Labor force participation among women is already at 47.8% in Kuwait, according to the World Bank.
With more women working outside of the home, they need people they can trust their children with for the time they are away.
A child daycare service is a good option that many are exploring. If you create the right environment, employ the right people, and treat the children well, this might be a very profitable business.
Event Management Company
Kuwaitis do like their social events. However, planning these events can be demanding and stressful. There are lots of people and things to coordinate and a single mistake can cause everything to crash.
If you are a very organized person and you have the skills to coordinate people, starting an event management company might be a good idea. You can even specialize in certain events to build a laser-focused brand and even charge more money.
Language Translation Or English Teaching
English remains the “reserve language” of the world. The need to communicate with people of different nationalities and languages within and outside of Kuwait has made it essential for residents to know the language.
To meet this need, you can start teaching people the language.
Alternatively, or simultaneously, you can start a language translation business, translating written and spoken words from Arabic to English and vice versa. The beauty of language translation is that you can even get international clients who need to communicate with people in Kuwait and will be willing to pay a premium.
Starting Your Business In Kuwait
If you choose to start any of these businesses or another one, ensure you have everything in place to get a smooth start.
First, you will need to follow all the business registration procedures, fill out all the relevant forms, and submit all necessary documents (including a business plan).
Second, you must have a trusted online payments platform with which you can easily and cost-effectively collect payments from customers (online and offline). Kem is one such platform. With it, you can receive online payments through direct P2P transfer or scanning of your QR code. Customers paying offline can also scan your printed QR code to complete payment.
Finally, invest in marketing your business. Even good business ideas need to be brought to the attention of people. And if you have competitors, you need it to emphasize your unique selling points and set yourself apart.
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