During the past few years, Kuwait has witnessed a significant increase in the number of small businesses. A good reason to initiate a small business in Kuwait is due to the country’s size. Kuwait is one of the smallest countries in the world, hence establishing a reputation for this business would be very easy simply by word of mouth. Kuwait has a population of about 3 million people; 1 million citizens and approximately 2 million expats. Kuwait is also one of the richest countries in the world. It has the fourth highest GPD in the world and the fifth largest oil reserve. All this proves that Kuwait has a strong and stable economy which small business owners can take advantage of. Another great move that worked for small businesses in a very positive way is the 1,000 KD Amiri Grant. It influenced the public to spend money. Another big advantage for small businesses in Kuwait is language, Arabic being the first and native language while English is the second and very frequently used. Small businesses in Kuwait are very popular with students who are looking to grow as businessmen and businesswomen by starting their own in which they can use to complement their income with and use as a way to enter the market as newly graduated entrepreneurs. Their usual projects revolve around websites, small restaurants, coffee/sheesha shops, etc. Examples of those businesses are: ‘Mukan’, ‘Ayamy’, and ‘7 Bars’. As a matter of fact, all of those small businesses we just mentioned started off and some still operated by graduates from the American University of Kuwait. These small businesses usually exclusively target young men and women that are in need of those services. The good thing about these types of businesses is that they understand the mindset and needs of their customers since they are of the same category of customers; however a slight downside is the lack of customers. These types of business are not necessarily location oriented. Most of their customers would go out of their way to visit and shop at these stores. This in and of itself shows how consumers in Kuwait are very open to new and innovative businesses, thus support it. The other side of the small business world is the small grocery stores, the tiny restaurants, and the small 100Fils stores. These stores, excluding the grocery stores, face little competition when it is compared to giant chains and co-op stores. They offer a rather different selection of goods and services that is usually not offered by the much larger chains. They are usually located in places of convenience for both their targets, and the shop owners/operators. The target of these small businesses is usually expats in order to be of more convenience with regards to their minimal income. These places offer a good price-to-quality ration when looked at it from a low income point of view. Small falafel shops, barber shops, tailors, baqalas, or the 100Fils stores are all usually located in a small corner found in residential areas. These businesses are very location oriented. 2
- Businesses and locations
There are many different types of small businesses in Kuwait. We have internet based businesses, also known as e-businesses, and the regular store based businesses. The former type could be the most popular. A few famous website businesses in Kuwait include EZGRT, 6alabat, taw9eel, and Mazadq8. EZGRT is specialized with new trends and designs for mobile phone covers, sleeves, skins, applications, and many more accessories. Moreover, they are specialized in accessories and custom-made jewelry for girls like necklaces, earrings, bracelets and key chains. For either of their two categories of products the customers enter the website and place their order and describe it in detail. Once the order goes through, any accessory or custom-made jewelry will be ready within two or three working days. However, the situation slightly differs when ordering mobile phone accessories since the...
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