Small & Medium Enterprises (SMEs)
Small and medium enterprises can face a lot of hardship and legal issues while setting up their business in Kuwait. A survey carried out by The World Bank in 2014, highlighted the main issues playing entrepreneurs and business owners.
Among the 502 SMEs surveyed, 35% of participants felt that business permits and licensing were the main barriers of setting up a business. It takes a long time to get the permit and the process is also full of hassles.
Other problems and barriers faced by SMEs include issues related to regulation uncertainty, labor regulations, administrative formalities and so on.
The current scenario combined with Kuwait's 'New World' market requirements and ever changing nature of the country have led business owners into a fix.
Al Naqeeb and Partners have realized the dire needs of SME owners and opened a separate division dedicated only to SMEs.
Barriers and Legal Hassle for SMEs
Kuwait has been late to realize the potential of small and medium enterprises (SME). But the scenario is full of activity and new startups are coming up every day. Currently SMEs contribute around 15% to 40% to the GDP of Kuwait which is bound to increase in the coming years.
The SMEs also employ 23% of the workforce in Kuwait and provides them a suitable earning opportunity. New entrepreneurs and businesses are showing great interest in establishing their operations in Kuwait, the GCC countries and in the MENA region (Middle East and North Africa region).
But as it turns out, setting up a new business in Kuwait and neighboring countries are not an easy task! There are many opportunities, but legal and formal hassles come in between.
Expert Legal Counsel for Small & Medium Enterprises (SMEs) in Kuwait
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Holistic Legal Advice & Assistance for SMEs:
Our SME division excels at providing client-focused and result oriented service to both domestic and international businesses. We have made it possible for SMEs to access cost effective yet efficient legal help in all matters of business.
We help SMEs get their permit and setup their business while protecting their assets and intellectual property. Our experienced lawyers will help you out with regulations ensuring compliance with all commercial and corporate laws. We will help you understand the implications of the laws like labor regulations so that you can always make an informed decision.
Our service ensures that you avoid all beginner's mistake and setup your business successfully. We provide a wide range of services including but not limited to :
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Company formation
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Protecting your ideas through Non-Disclosure Agreements (NDA)
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Safeguarding your agreements with investors and funding bodies
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Securing your intellectual property, copyrights, patents and trademarks
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Personalized contracts catering to your individual needs
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Compliance with regulations and laws both in domestic and international segments
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Mediation, litigation and arbitration
Protect Yourself from the Beginning
We believe in forming long-term relationships with our clients so that we can protect all of their interests effectively. If you want to set up a new business or have any queries about legal procedures, get in touch with us for a professional consultation.
