Business Solutions in Arab saudi

 Business Alternatives in Saudi Arabia Essay

Strategic Marketing Management

Group Project

Traditional western Union Organization Solutions in Saudi Arabia

Mon 5th November 2012

Carly-Arzeen Zandipour 32067555

Executive Summary

Western Union Business solutions seeks to infiltrate the Kingdom of Arab saudi (KSA) industry of Small-Medium Enterprises (SME's), engaged in Foreign Trade and with a requirement for International money transfer alternatives which are presently highly bad in the country. American Union Business Solutions (WUBS) will spear head a campaign offering innovative Organization solutions in cross boundary payments which has a promise to ‘serve the underserved', which is evidently abundant in the immutable Saudi Market. Although one of many world's quickest growing financial systems, the country even now lacks the basic training, education and support of their rising Business owners who take into account an excess of 90% of all businesses owners in Saudi in fact it is precisely this which has been the main cause of some thirty percent SME dropout rates and an average business age of 7 years which is obvious of this drawback. However , it's the country's acknowledgement of its weak links and improved efforts to boost their the most fragile link that is certainly best admired and creates great opportunity for WUBS. With the governments current investments in above 300 colleges for men and women, fresh government financing programs for SME's and increased support by marketing the countries opportunities externally and hosting event and trade exhibitions focusing on the SME sector and encouraging ‘locals thinking global' by increasing their reach and prospect. Although the primary sector in Saudi is undoubtedly in the Oil industry, the region has recently experienced accelerated growth rates in the private sector, proving to government the importance and chance for the sector and inducing additional support. A strength to strength, win-win way as hosts a prime chance for WUBS' access as a lengthy withstanding, client caring, business solution provider and trade risk director. Traits almost all coherent with and respected by the Saudi attitude. After a slump in 2009, which will saw a drop in nearly 40% of country imports and export products, the country has recovered fully. Saudi Arabia imports were worth 117. 3 Billion SAR in the initial quarter of 2012. In the past, from 1968 until 2012, Saudi Arabia Imports averaged 84646. 15 Million SAR. Saudi mostly imports machinery and equipment, food, chemicals, automobiles and materials. Its main import companions are European Union countries (Germany, Italy, UK), United States, Cina, Japan and South Korea. (http://www.tradingeconomics.com/saudi-arabia/imports)

This provides an entry point pertaining to Western Union Business Solutions. To play the role of serving the underserved, educating the majority of SME's in an comprehension of options made available from WUBS, their international organization transactional requirements and providing foreign exchange risikomanagement and peace of mind to the major sector difficult, ever growing and powerful with increasing recognition of it is worth simply by local market leaders an organizations.

Circumstance analysis

Market Summary

Saudi small-to-medium corporations (SME) make up 63% of employment, and 98% of all enterprises in Saudi, (http://www.zawya.com/story/Saudi_SME_opportunity-ZAWYA20120919051002/ September 19 2012) this converts for an average 770, 000 person companies using a total contribution of 25% to total economic system GDP (Achoui, M. (2009) ‘Human resource development in Gulf countries: an evaluation of the developments and difficulties facing Arab saudi. ‘Human Useful resource Development International, 12(1) pp. 35-46)

The Saudi Industrial Expansion Fund, the Ministry of Finance and Saudi financial institutions have established a brand new system providing you with financing activities for SMEs. Although only 1100 businesses of the 770, 000 authorized SME's have already been awarded assistance thus far. Business service providers focusing on SMEs – for consulting, training, organization...


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