New Business man / woman

[Navy_boy]

I would like to know how can a person start doing his own business ..
I mean should he/she start with a big one or a small one ... ??
some ppl tend to get a bank loan to start it ,,,while some say it is not good to start that way ...!!??

so

what is the best thing to do in this case ?? ..
is a bank loan will be benifitial ??
how do u choose yr project ??
any etc ,,info will be good to share it ..

[Arabian Princess]

very intresting questions Navy boy and thanx for opening this thread.


Well let me start slowly answering your questions from my point of view.

You should start your business small. It is risky to invest alot in a business and not succed especialy if you are new in the market.

In order to have a successful business, you should have the drive and initiative. You will need to spend alot of time so you better be ready.
when choosing what type of business .. it has to be within your intrest .. something you enjoy .. because if you dont .. you wont have the drive to be creative in your business.

about the finances, well it depends on the person. Personly, I will never take a bank loans .. personal beleifs. I would rathar depend on other means of finances, family loans (without intrest), collective savings (jam3iya) partnership and so on ..

Before I start .. I should learn about the market .. what people would like and what they wouldnt. coz if I start my business without searching .. I might end up selling something people dont like.
one important thing is to never give up few slowdowns .. just fight to succed

[Navy_boy]

very good reply AP

good info u came up with ..

could any one tell me about ( '3orfat altijara wa al9enaa3a)
I heard they do the project studies for u .. & advice u about it

how does it work .. ??

[Sulo]

Originally posted by Arabian Princess
very intresting questions Navy boy and thanx for opening this thread.

You should start your business small. It is risky to invest alot in a business and not succed especialy if you are new in the market.



Wow this a great topic…
First thanks you dear for highlight this topic in the sabla.. yes we need to have some youth to think logicaly like what you want to do ..
As this is part of my job .. I will give you this file and some web address it will help in some how …
If you have any comments .. go ahead with your question

http://www.kspdc.com/ this will give you good information about small business

http://www.youthfund.com

I hope all get benfit from this ...
I will try to write about small business later one .. when I get time
all the best in you business

[Arabian Princess]

Thanx Sulo ..
very intresting website indeed .. I have been looking for informations like these!!

waiting for your additions about small businesses. well you mentioned its pary of your job, could you please explain more about your job maybe it could help small business men around?

[Ayah]

Allahu Akbar..
What a great topic Navy_boy and the website thats Sulo posted is very useful..:)

Please continue..

[Navy_boy]

:color: very valuable sites Sulo .. thanx for that ..

hope any one can help me with my question above about '3orfat altijara ..

[Arabian Princess]

Navy, I think the site Sulo provided is actually related to the chamber of commerce and industry.

members, why dont we add more about what we need in a small business??

[Navy_boy]

ok lets start with the workers u gonna put in yr project ...

will u choose Omanies or foreign ppl ???

[Arabian Princess]

I would definatly take Omanis ..
Many people tell me its not profitable .. but I beleive it could be ..
I preach for Omanziation and then employ forigners??? that I will never do!

[Equality]

excellent topic Navy-boy (let me call sabla bussinessman:D ),
and interest analysis AP.

my point here is prior to inenter any bussiness there should be some thing called feasibility study, in which your business can be evaluated in details in terms of all types of cost, revenue and profits based on a period of time which is in turn based on the business capital. this evaluation will also show you when you can start to gain profit, however, this study is apredictable study or lets say theoritical but very helpfull and highly recomended and strongly required by Oman chamber.

it is always advisable to begin with small business in order to evaluate the financial return, then if you feel your return is more than expected and there is high demand for your product then you should go for large business while if the return is lets say not bad then even there is a demand then you should contiue with the same level for a period of time then you can jump to the big fish.

[Navy_boy]

well choice Arpy... I hope that big traders in our country think that way u r ..




Originally posted by Equality
it is always advisable to begin with small business in order to evaluate the financial return, then if you feel your return is more than expected and there is high demand for your product then you should go for large business while if the return is lets say not bad then even there is a demand then you should contiue with the same level for a period of time then you can jump to the big fish. I see what u mean here Equality .. moving step by step ..
oki .. everyone now is saying "" it is better to start with the small buisness ..

which type of buisness is considered as a small one ??
does it depend on yr financial state ??

[Equality]

[i]
does it depend on yr financial state ?? [/B]

Ok, I dont want to make hard to you, if you want to open very simple bussinesslike supermarket , barberyshop is easy and no need any complication, but if you are thinking some thing alittle big then you should read the folowing:

1. what kind of business as invester you are thinking about?
2. what is the capital to be invested
3. the investment you going to open should be applicable the oman standards and demendable in oman market
4. If your capital is large then the question will there be any kind of natural resources involved inyour bussiness (instead of exportation), it is advisable to use Oman natural resource in case it is available.

If in case you dont know what do you want, then letme know your capital? and i can give a smart bomb oooops i mean a smart bussiness ;)