Starting Small Business in Saudi Arabia Guide. How to start and run a small business in Saudi Arabia for foreigners. Learn from the Saudi Arabia Small Business Ideas and Opportunities – a short guide for entrepreneurs. And get information about Saudi Arabia Franchise & Middle East Business Opportunities and other small business and SME entrepreneurship news. The Kingdom of Saudi Arabia (KSA) government has, in the last five years, stimulated economic activity in the KSA by implementing a number of economic and regulatory reforms providing incentives and guarantees to foreign investors looking to invest in the KSA. These include allowing foreign ownership of the real estate, offering protection against confiscation, allowing foreign companies to repatriate profits, providing government assistance and credit support, offering industrial loans, and setting comparatively low Saudi Arabia corporate and individual taxes.
Doing Business in Saudi Arabia Guide
Saudi Arabia is the only Middle Eastern country among the G-20 members of industrialized states, and its GDP in 2018 exceeded USD 777 billion. The public sector dominates the Saudi economy with oil accounting for 45% of GDP and nearly 90% of government revenues. A nascent manufacturing sector accounts for less than 10% of GDP. There have been cuts in certain capital expenditure areas such as stadium construction and certain future Aramco petrochemical and refinery projects, though most projects currently underway are moving forward though some have been pared down in scope. Overall, there has not yet been a significant deterioration in the business climate resulting from lower oil prices. The September 2015 announcement by Saudi leadership of a “U.S.-Saudi Strategic Partnership for the 21st Century” lays out a plan for significant new projects over the next 10 years relying mostly on U.S. solutions and expertise. Learn more from Saudi Arabia Business Guide provided by ExportGov from the US Government.
Starting a Small Business in Saudi Arabia
Are you thinking of starting a new small business in Saudi Arabia? Here is an eight-step plan that will help you. Once you know your plan, go search on the internet for more information on each step related to Saudi Arabia. You will want to make sure you prepare thoroughly before starting a new home- or online-based business in Saudi Arabia. Step One: Conduct market research, because this will tell you if there’s an opportunity to turn your idea into a successful Saudi Arabian business. Step Two: Write your SME or small business plan. Step Three: How do you fund your business? Step Four: Choose your Saudi Arabian business location (if one is needed). Step Five: Choose a business structure. Step Six: Choose your business name. Step Seven: Register your business in Saudi Arabia, and Step Eight: Check for and get necessary permits and tax registration, related to your small business. And a last comment: Talk to any local entrepreneur or small business owner and you’ll quickly learn that starting a business requires a lot of work. An idea doesn’t become a business without effort.