Successful businesses in the Middle East will tell you that the key factor for success is relationships. Customers will often be buying from you, not your company, so it’s vital to fully understand the market and available opportunities. Key contacts and building relationships with the appropriate people will allow you to take advantage of those opportunities.
Thanks to his wealth of working experience in the region, and extensive list of strong business relationships, Terry is able to accurately analyse and identify opportunities in the market for your business.
While not directly affecting the business climate, it is worth considering geopolitical items of note within the Middle East before engaging in business in the region.
As an example, you will need to understand where you can and cannot access certain markets from. Qatar is currently cut off from any direct access to the markets of Saudi Arabia, Bahrain, the UAE and Egypt. This means that if you wish to do business in Qatar, you cannot access the market from the UAE.
Kuwait and Oman have taken a neutral stand in the disagreement so if you wish to make a visit to Qatar whilst in the region, this can only be achieved by flying from either Kuwait or Oman.
Terry’s understanding of the impact that changing geopolitical issues have on business will greatly benefit your company, and his extensive experience means he can guide you towards the most efficient solution when coming up against these issues.
Saudi Arabia, Oman and Iraq have their own local content programmes, so if you are planning to enter these markets you will need to acquaint yourself with the requirements to satisfy their In Country Value initiatives.
This is an incredibly important step when entering into new business in the Middle East, and requires the expertise and experience that Terry can offer.
You may come across people or businesses who say that they can represent you in multiple markets spread across the Middle East. However, caution must be taken as it would be challenging for your business if your representative is based outside your market of choice.
Armed with over 30 years’ experience and a wealth of industry contacts, Terry is able to advise you on the appropriate representation options according to your business’s requirements and goals.
Extra care should be taken when choosing a local partner in the region, taking into account local requirements and regulations. For example, in Abu Dhabi, your local party’s trade license must carry an Oil and Gas Endorsement for them to act within the oil and gas sector.
Due diligence is paramount to ensuring that your company does not fall foul of any unknown regulations, potentially causing legal issues further down the line. Engaging with a local legal entity to assist you in making an informed decision, is a valuable investment when moving into the marketplace.
Terry can act as that local contact for your business when deciding on which market contacts to approach. Knowledgeable about the regulations surrounding business in the Middle East, and having well-established contacts with potential contacts for your business, he can be an invaluable asset when embarking on new business ventures.
If setting up a new business in the Middle East, it is important to visit the region to both familiarise yourself with the culture and customs, but also to develop strong business relationships with new contacts through face to face meetings. You will want to get the most out of your time in the region, and Terry can assist with bespoke itineraries and visit management to make sure your trip runs smoothly.
New business comes with new hires, new regulations to adhere to and new ways of operating within a different environment. Whatever questions you might have about doing business in the Middle East, Terry can be on hand to address any concerns and provide expert guidance on all aspects of operating within the region.
Engaging in business in a new region may involve relocation or opening new offices for your business in the area, this comes with its own set of challenges. Having set up businesses in the Middle East successfully in the past, Terry is best placed to assist you with your relocation challenges.
Going the Extra Mile
As well as expert business advice, Terry can offer a unique insight into the culture and customs of the Middle East, having lived in the region for over 30 years. From local etiquette, specific negotiation techniques and even traditional working hours, Terry will be able to guide you and your business towards a seamless integration and successful business agreements.