Entrepreneurship in Kuwait: An Insightful Interview with Mohammad

Introduction:

In a world where entrepreneurship is increasingly gaining momentum, it's important to explore the unique challenges and opportunities faced by entrepreneurs in different regions. A few weeks ago, I delved into the world of entrepreneurship in Kuwait through an engaging conversation with Mohammad Al-Mulla, a young entrepreneur who co-founded a socio-political research company in Kuwait (siyaaq.com). From the government's role in supporting entrepreneurs to the importance of taking risks, Mohammad shares valuable insights that can inspire anyone considering their own entrepreneurial journey.

Government Support for Entrepreneurs in Kuwait:

One of the most striking aspects of entrepreneurship in Kuwait is the level of government support offered to entrepreneurs. Mohammad explains that the Kuwaiti government provides financial assistance to entrepreneurs in the form of a salary, which serves as an alternative to a traditional government job. This support allows entrepreneurs to focus on their ventures without worrying about the immediate financial pressures they might face otherwise. On the other hand it frees the government of its obligation to provide a job for each citizen as mentioned in the constitution.

The Importance of Taking Risks:

Mohammad shares that one of the most crucial pieces of advice he has for aspiring entrepreneurs is to avoid taking a government job. He believes that working in the government sector can make individuals complacent due to the security and ease of income. Instead, he encourages young entrepreneurs to take risks and pursue their passions, even if it means facing financial uncertainty and having a lower monthly salary. With the amount of governmental support, every person is able to become an entrepreneur and build a business, even if it does not work out at the beginning - a very interesting take on how to support entrepreneurs.

Navigating the Kuwaiti Market:

Mohammad's research company primarily works with clients outside of Kuwait. He attributes this to a lack of understanding and appreciation for the value of the research services they provide within the country. However, Mohammad is hopeful that as their company gains recognition, they will be able to work with the Kuwaiti government to address the ongoing political turmoil in the country.

Overcoming Challenges:

Entrepreneurs in Kuwait face unique challenges, such as the requirement to rent office space even when most meetings and work can be conducted online or in coffee shops. Mohammad shares that co-working spaces in Kuwait are also expensive, making it difficult for entrepreneurs to save on office costs. However, he remains optimistic about the future and hopes to leverage connections and social skills to overcome hurdles that entrepreneurs in Kuwait have to face, beyond paying high rent for office spaces.

Advice for Aspiring Entrepreneurs:

When asked about the advice he would give to young Kuwaiti entrepreneurs, Mohammad emphasizes the importance of taking risks and avoiding the temptation of a government job with a great work-life balance and salary. He also encourages entrepreneurs to be cautious about taking outside investments, as this can lead to financial strain and the potential loss of control over their venture and places extra pressure on the company.

My thoughts:

When i first started thinking about how this interview might be going, I never expected to get this much insight into a country that seems to small and far away from both Germany and the United States. After having around 1h of a conversation with Mohammad, I learned so much about the unique cultural aspects of Kuwaiti Entrepreneurship and the vision that Kuwait has for themselves and their entrepreneurial landscape. I will continue to do some more research about Kuwaiti Entrepreneurs to get a better understanding of how things are changing in the future and how Kuwait will become a hub for entrepreneurship in the middle east, potentially.

Conclusion:

Entrepreneurship in Kuwait offers unique opportunities and challenges, as illustrated by Mohammad's experiences. By taking risks, embracing uncertainty, and leveraging government support, young entrepreneurs in Kuwait can create a successful and fulfilling career path. As Kuwait's entrepreneurial ecosystem continues to evolve, we can only hope that more individuals like Mohammad will be inspired to contribute to the country's growth and development.

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