Press release
Avoid these blunders before taking steps to start a retail business in Saudi Arabia
Avoid these blunders before taking steps to start a retail business in Saudi Arabia
Not taking regulatory requirements seriously
In terms of ease of doing business, Saudi Arabia has a forward-looking regulatory environment. But should not lead to any form of leniency towards adhering to the applicable rules and regulations. A foreign company is like a guest. And guests are expected to respect and sustain the values of hosts. YRC recommends that new businesses avail expert assistance in comprehending foreign laws ( https://www.yourretailcoach.ae/services/business-plan-development/ ).
Not conducting specialised market research
The internet is a good starting point to begin with market research ( https://www.yourretailcoach.ae/services/market-research/ ). Many sites provide quality information and that too free of cost. But from a business perspective, it is not enough. That is where specialised market research comes in. It provides better insights curated for varied business requirements.
Not considering the option of eCommerce
Saudi Arabia is not a small country. It has multiple high-potential markets. New businesses must not undermine this. ECommerce will help them cater to a wider market region. In the event of failure or poor performance in one or two markets, the compensating results could be obtained from other market regions.
Not enforcing strong SLAs with service providers
While doing business in KSA, companies cannot afford to deliver sub-standard services to their customers. This is not only owing to business reasons but hurting customers' interests may also irk the regulatory bodies. And since a company could be dependent on the services of many other entities in the value chain, it is important that strong SLAs are in place.
YourRetailCoach Dubai
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United Arab Emirates (UAE)
Phone: +91-9860-426-700
Email: consult@mindamend.net
YRC is a Management Consulting Firm with its presence across India & Dubai.
Get advise for E-commerce retail business : http://www.yourretailcoach.ae/contact-us/
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