specialist: The Saudi market is stimulating and entrepreneurs should seize opportunities
Business development consultant Mohammed bin Saad Ibrahim called on entrepreneurs to take advantage of the opportunities available in the local market, but after analyzing the market, competition, and monitoring challenges.
Ibrahim said during a workshop held remotely by Asharqia Chamber, represented by the Women's Empowerment Center, in cooperation with the Business Business Academy on Wednesday evening, June 7, 2023, entitled "Market Discovery Mechanisms for Entrepreneurs" that the local market is characterized by several positive features favorable to entrepreneurs, most notably stability in general in terms of security. And banking as well as the social and economic aspects, and this is reinforced by government support through a set of reforms, infrastructure, and economic diversification, in addition to the state of continuous growth in the movement of trade internally and externally, and the growth of the investment movement in various fields accompanied by a growing state of creativity and innovation.
Accordingly, the lecturer calls on entrepreneurs to take advantage of this situation, take advantage of the available opportunities, and take the initiative to work, but according to a careful study that includes studying the market, competitors, and consumer behavior.
The lecturer reviewed a number of mechanisms for studying opportunities and competitors, and mentioned that there is a kind of analysis that depends on identifying the internal strengths and weaknesses of each party in the investment process, including competitors, in addition to an external analysis of opportunities for success and potential threats, and a close reading of the impact of general factors (economic, social and legal). , affecting the attitude of the entrepreneur and his initiatives.
The lecturer called for analyzing real interests and objectives, current and potential risks and challenges, identifying different scenarios that could occur and how to deal with them.
