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Expanding your business to Kuwait? Here’s everything you need to know

One of the most exciting times in any entrepreneur’s career is growing their business on a global scale. But all the hard work they put in during its early years can suddenly look easy compared to all the responsibilities of establishing their brand abroad. What’s more, some countries are more difficult to break into than others, requiring much more planning than initially expected.

Kuwait is one of these countries. The nation’s rocky history has seen it fall prey to a volatile financial market, but recent years have seen a dramatic turnaround in its fortunes. In fact, the government is planning on building a new city to address urban issues faced in the country, such as housing and traffic. Plans include a new airport, a free zone, an Olympic stadium, and a tower taller than Dubai’s Burj Khalifa. These plans will not only benefit local communities, but also national and international entrepreneurs, providing them with increased opportunity to start a business in a new city.

But in order to get set up in Kuwait, there are a few things you will need to do first. From the initial approvals, to marketing planning there are some key facts you must take into consideration.

Understand the different business entities

Businesses in Kuwait are filed under the country’s commercial companies law (CCL), with foreign entrepreneurs only able to establish certain types of business:

Limited liability companies

Usually referred to as With Limited Liability (WLL), the closest UK equivalent would be private companies. They are not permitted to operate within the banking or insurance sectors, or as a pure investment fund, and the maximum shareholding by a non-Kuwaiti is 49%, unless approved otherwise by the Kuwait Direct Investment Promotion Authority (KDIPA).

Joint ventures

A joint venture can be formed by at least two people, who are jointly and severally liable. These companies don’t have legal existence and do not need to be recorded by the Ministry of Commerce and Industry. Each partner in a joint venture, however, must be separately registered in their own names. These kinds of businesses are best suited for construction projects.

Branch companies

Foreign corporate bodies can only set up branches in Kuwait if they have permission from the KDIPA, otherwise, they should operate through shareholding or limited liability companies. Alternative options include running the business through a Kuwaiti commercial or service agent.

Shareholding companies

These companies can either be public or closed, but must be made up of at least five shareholders. Foreigners can be shareholders, but must only own a maximum of 49% of the company, collectively. Any founders are obliged to own at least 10% of the capital.

Partnership companies

The two types of these companies are the simple limited partnership, which consists of joint liability members (general partners) and sleeping members (limited partners). The second type is the partnership limited by shares, which is a limited partnership where capital is divided into shares.

Complete thorough research into the new market

Expanding into a new market requires plenty of research. You may already have a detailed business plan, but Kuwait offers a brand new target audience that you may not fully understand.

Market research

The cultural differences between Kuwait and western countries are big enough that you will need to conduct thorough market research in order to guide your business plan. This includes research into your target market, distribution channels, established competitors, and marketing forms.

The culture is much more conservative than in many other major markets. The distinction between men and women is much stronger and more defined, so suggestive imagery for advertisements is strongly advised against. It’s also illegal to drink alcohol in Kuwait, so any marketing would need to avoid this.

Competitor analysis

Understanding your competition is important for businesses at any stage, but breaking into a new market brings its own complications to the process. For instance, competitors might be far better established in the community, which can make your entrance even more difficult. Analyse your business through factors like price and the services and products offered, as well as the market share and marketing strategies.

Management and workforce

Expanding your business overseas brings about a situation you may not have thought of—do you hire a brand new team in that country, or take existing employees who know your business to the new location? Both options have their own benefits and drawbacks. Hiring local employees ensures you have staff who are likely to understand your audience, as well as knowing the best way to conduct business in that country. However, they won’t have the background knowledge regarding your business that older team members may have.

Expats can certainly be beneficial as you first set up your company overseas, by helping to establish your company culture abroad, and assisting in the hiring and training of full-time Kuwaiti staff. However, you will need to consider employment and immigration laws and ensure your business abides by them. Expats will need written permission from the employer in Kuwait as well as a medical report in order to obtain a working visa to the country.

Develop a market entry strategy

Once you’ve completed your research, you can create and develop your entry strategy document, which will be your blueprint for how you run your company in Kuwait. This should clearly outline the research findings, goals, budget information, action items, and timelines. Your market and competitor research should highlight audience behaviour, as well as how your rivals are selling and promoting similar products. This allows you to decide on your specific entry points into the market.

The best strategy to connect with your new audience is through using specific marketing techniques. Localising your website, for example, makes it culturally and linguistically accessible, which will help you build a better, more stable relationship with your target audience from the start of their customer journey. Launching a Kuwait-specific website allows you to alter things like the layout and phrasing in a way that will resonate well with a Kuwaiti audience, without sacrificing the content or overall visual style of your existing website.

Day trading the market with RSI indicator

Indicators are often considered as the best trade filter tools. Many professional UK traders use the indicator readings to assess the quality of their trade setups. Things might be really hard at the initial stage but if you learn the proper use of the indicators reading, it won’t take much time to develop your trading skills. But the moment you rely on the indicator readings, you need to consider your trading strategy. Being a short time frame trader or day trader, you can’t use all types of indicators. The professional traders prefer to use the RSI indicator in their day trading strategy since it allows them to find high-quality trades. Let’s learn how experienced traders manage to find great trades.

Analyzing the lower time frame data

Those who day trade the market have very precise skills in technical analysis. They can easily find the key support and resistance level with an extreme level of accuracy. But when it comes to lower time frame trading, rookie traders often make things overly complex. In fact most of the time they end up by trading against the major trend. So, if you intend to trade the market, you must be very careful about your trade execution. Try to focus on the higher time frame data since it will help to find the key levels. If possible, learn about multiple time frame analysis since it will greatly help you to increase your profit factors.

Understanding the RSI reading

RSI usually stands for Relative Strength Index. It helps the trader to find the overbought and oversold condition of a currency pair. Since you will be day trading the market, it’s better to modify the default settings of the RSI indicator. The pro trader in the exchange traded funds industry prefers to use period 5 since it gives a better reading. But these settings only work best when you use it in the major pairs. If you spot the RSI curve near the 30 mark, you need to look for a buying opportunity. Similarly, if you spot it near the 70 mark, you need to look for a selling opportunity.

Developing your trading skills

After learning the details of the RSI indicator, you should never trade the market with real money. You need to use the demo account to see the new settings of the RSI indicator work. Since you will be day trading the market, its highly imperative you learn more about risk management and the multiple time frame method. Using multiple time frame analysis, you can easily spot the false spike and signal. Most importantly you will have a clear idea about the key support and resistance level. On the contrary, risk management factors will help you to protect your trading capital in the long run. Never think you can make a consistent profit without losing any trade. Focus on long term goals and try to trade the market with an extreme level of precision.

Learn from your trading mistakes

Day trading the market by using the RSI indicator reading is very profitable. However, you have to learn new things on a regular basis from the losing trades. Since you will be dealing with the fast-paced trading environment, it’s imperative that you never make the same mistake twice. Write down the detailed trade setup so that you can analyze your trading results and make necessary changes to fine-tune your trading system. Trading is all about finding the perfect trades with managed risk. You can’t change your life unless you learn from your mistakes.

Stop following the indicators blindly

Though the RSI indicator is a very effective tool for finding good trades, you should still rely on the raw price data. Try to incorporate a simple price action trading strategy so that you can easily make a profit and increase your win rate. Stop following the indicator readings blindly as it will increase your risk factors in trading.

DIY Tips For How To Bleed A Radiator

Bleeding a radiator is one of those jobs that sounds relatively easy to do on the surface, but we’re always a little nervous about getting it wrong and causing a leak. It’s also one of those jobs that are essential when keeping your entire central heating running efficiently and effectively.

Why is it important to bleed a radiator?

Perhaps your radiators aren’t feeling as hot as they used to, or they’re beginning to make an odd gurgling noise every time they attempt to heat up. This happens because of trapped air inside, which moves around and prevents the water from being heated up within it. When you have trapped air inside, that’s a sign that you need to bleed your radiator as soon as you can.

How to bleed a radiator?

To ensure your radiators are always working as they should be, you need to bleed them. Follow these steps to ensure you always bleed your radiators correctly and safely.

Check your radiators.

To make sure you’re only bleeding those radiators that need it, you should first turn on your heating as you normally would and allow it to heat up fully. You can then visit each radiator in turn and feel them to see if they have any cold spots. Cold spots on a radiator indicate that there is trapped air, which needs to be removed.

Wait for your radiators to cool.

Before you start bleeding your radiator, wait for them to be completely cool. You’ll release some water in the process; it’s better to release cold water than scolding hot water that can cause damage or injury. When your radiators have been off for a couple of hours, you’re ready to start.

If you don’t turn off your central heating system entirely before you start, there is still the chance of more air getting caught inside the radiator. This will make successfully bleeding your radiator more difficult.

Get a suitable key.

Before you can bleed your radiator, you’ll need a key to fit your radiator valve. There are numerous stores that will stock radiator keys, but if not, a flat head screwdriver can work in a lot of cases. You should also prepare your area and make sure you have something to wipe any spillages and keep the area safe.

Make sure you have a bowl or something similar ready to catch water that is released when bleeding the radiator. Putting a towel on the floor can also help to soak up any access water.

Release the air using the key.

Put the radiator key on your radiator valve, usually located at the top, and turn it anti-clockwise. Make sure you hold your bowl underneath the valve to catch the water. You may hear a hissing sound as you do this – that will be the air escaping from the radiator itself.

Don’t open the valve quickly – do it slowly to ensure you have complete control of the situation and avoid any accidents or large leakages. When the water has stopped dribbling, you can turn the key clockwise again on the valve to close it once more. Wipe away any access water.

Check the valves and turn on your heating.

Double check that all your valves are securely fastened and turn on your central heating system once more. Go around your radiators again and feel for cold spots. The problem should be fixed, but if they’re still showing signs of problems, then it may be worth calling out a professional to help diagnose the problem.

Follow these tips for bleeding a radiator successfully!

If you’re having trouble with bleeding your radiators or you’re unsure how to do it safely, follow our guide. It’s an easy enough job to carry out on your own and can prevent a professional from coming out to do it for you, saving time and money in the process.

TIP: Do you know modern house owners are installing digital thermostatic radiators? Since it allows you the full control independently even if you are not at home. If someone is eligible for a government backed central heating grant then an A rated boiler and a thermostatic radiator will be installed for free of cost. Check your eligibility today whether you qualify for a central heating grant

How to avoid being involved in pyramid schemes

Pyramid schemes are one of the most ingenious ways of tricking people in search of making money easily and rapidly in the UK. Pyramid schemes work especially on those who have little or no experience in investing, so the best advice to avoid getting caught in a pyramid scheme is to pay attention on those offers which simply seem to good to be true. 

There are several ways in which individuals can verify if they are victims of pyramid schemes, however, they prefer to believe that this would never happen to them and so they end up needing a London defence lawyer when it comes to recovering their money. 

How do we recognize a pyramid scheme? Let’s see below some of the signs that when an offer is too good to be true, then something might be wrong with it.

Promises for high returns in a very short time

A pyramid scheme usually looks like a regular investment scheme based on a hierarchy of the members. The first person starting the scheme will recruit other persons and build the so-called pyramid. Usually, the last persons recruited are the investors who are promised a high yield on their investments. This is the best time to check how the investment scheme has performed in the past or even if it has a past.

Also, asking to talk to other investors could help in spotting the validity of the investment scheme. These little background checks have helped a lot of people to avoid the services of lawyers specialized in pyramid scheme scams.

Verify the product or service sold

Most of the times, pyramid schemes take the form of multi-level marketing schemes which are legitimate, however, the latter will sell reliable and genuine products or services, while the focus of a pyramid scheme is to collect money from investors while relying on them to pay fees or taxes on products or services that don’t exist or cannot be sold. So, a thorough verification of the products or services is a must before falling into a pyramid scheme fraud.

Ask how the money will be invested

Another simple way of avoiding becoming a victim of a pyramid scheme is to simply and directly ask how the money will be invested. This is because the money is usually used to pay older investors while the new ones are given small amounts of money to be kept content for a while until no money comes at all. 

It is true that in theory avoiding being a victim of a pyramid scheme seems easier than in reality, however, being cautious costs nothing. Considering everybody cares about their money, asking a few questions and doing a little bit of research before making any investment is the best way of ensuring one’s financial soundness and investing in something genuine with lower but safer returns.

The Rossi Effect for LENR Demonstrated in the E-Cat by Andrea Rossi

A revolutionary form of low energy nuclear reaction was demonstrated by entrepreneur Andrea Rossi in 2011 in the form of the E-Cat device, which stands for Energy Catalyser. The device has received much attention in the scientific community and in the media, being the first of its kind to be publicly demonstrated and verified by third parties. The E-Cat has been shown to produce useful heat to the magnitude of at least ten times any previously known chemical reaction.

LENR

LENR has for many years been hypothesised by scientists as a type of nuclear reaction that takes place at or close to room temperature. Nuclear reactions take place naturally within stars, at temperatures reaching millions of degrees, so this process is known as hot fusion. Humans have recreated hot fusion in prototype reactors and in hydrogen bombs, but until recently there was no accepted evidence that LENR were possible. Studies in the 1980s by leading electrochemists reported evidence of LENR, but the results were impossible to replicate and interest soon died away. Interest in the field has significantly increased since Andrea Rossi’s demonstration of the E-Cat.

Andrea Rossi responds to questions about the E-Cat and LENR in the Rossi Blog Reader.

Unique Process

Original studies into the possibility of LENR involved experiments with deuterium and palladium. Later experiments looked at the possibility of generating an anomalous heat reaction using hydrogen and nickel. The process known as the Rossi Effect uses nickel as the catalyst, but with a fuel comprised of lithium aluminium hydride. The Rossi Effect is patented, with the patent held by the Leonardo Corporation.

Energy Catalyser

The current design of the E-Cat is table-top sized and has a reactor core surrounding a thin layer of finely granulated nickel and lithium aluminium hydride within a cylindrical rod. This reactor has cooling elements in the shape of wings attached and is placed at the bottom of a box. The heat generated by the reaction is transmitted from the reactor to the surrounding water by the cooling wings, heating the water to produce hot water or steam.

Andrea Rossi is an Italian inventor and entrepreneur, born in Italy in 1950. He is a Doctor in Philosophy and obtained his Doctorate in 1974 at the Universita’ Degli Studi di Milano (Italy).

How to recognise a perfect conference venue

Organising a conference is definitely not a piece of cake. To do it properly you have to rise up to the higher heights of your organisational skills and resistance to stress because, despite sounding innocent, it is a highly complex and labour intensive task. But don’t worry – there is a hack to make it smoother and less stressful. And that is choosing a perfect conference venue.

I know it may sound cliché but truth being told – a conference venue matters most of all checkpoints in event organisation as it influences the further decisions and amount of work to be done. By choosing a conference venue recklessly you deprive yourself of powerful weapon which could help you wrap your head around it all. So how to choose a perfect one?

Features of a perfect conference venue

Accessibility

The very first thing to consider is a location. You must think where your attendees will be coming from and which place will be easily accessible for them. It will not only pamper a little bit your guests but also will increase the turnout of the event. Check whether the chosen place is close to the airport if needed and well-served by public transportation, like for example conference center Kraków in Poland. 

Perfect size

When choosing a venue you also have to take into consideration the size of your conference. Don’t bite off more that you can chew and try to match the venue size to the conference size. If you choose too big one you will end up in a half empty room which would make your event look not very successful. And on the contrary – if you choose too small the guest will be squeezed and the place overcrowded which also isn’t desired. Define first how many attendees you expect and choose wisely.

Solid technology

An important thing is also checking whether the venue of your choice is technically viable and whether you will be able to organise the whole event the way you want. You have to make sure that it has all the necessary audio and visual equipment, multimedia setups, solid sound system and sufficient network capabilities in order not to be surprised at the last minute.

Additional facilities for guests

Last but not least – one of the most crucial factors when choosing the venue is its potential for being attractive for guests. Before deciding on any venue you should consider what facilities it provides, what catering options are available, whether the alcoholic drinks are allowed, what are the décor restrictions or how many parking spots there are and where they are located. Checking those will save you a lot of stress and will make the conference a memorable experience for your invitees.

Full time MBAs- will your business school help you finding employment?

When you have gone through a full time MBA, the last thing you want to have to worry about is finding employment. Though you will have been primed for success by the time this moment comes, it can be hard to take the practical steps necessary to move forward in your career. 

That is why most schools help finding employment once you leave with your MBA degree in hand, especially if you have attained the degree at an establishment which has specialised in business, such as the Hult International Business School. The school holds the prestigious Triple Crown accreditation, meaning that it is part of the three major business accreditation associations in the world: the Association of MBAs (AMBA) from the United States, the Association to Advance Collegiate Schools of Business (AASB) from the United Kingdom, and the European Foundation for Management Development Quality Improvement System (EQUIS) of the European Union. It is the only American business school to hold triple accreditation.

Why your business school would help you finding employment 

It’s likely that when you leave your business school with your MBA in hand, by that time you will have been given the tools and resources you need to have in your roster in order to be successful in life after schooling. Or, as many people put it, ‘real life.’ 

These resources and tools range from being a student for life, to networking and attending career appointments from successful and notable alumni to help you further your career. Business schools offer such help to you finding employment once you have your MBA degree as not only does it benefit you, but it is simply good practice in business on their behalf. 

For example, a high employment rate after graduation is something for a business school to boast about. This in turn keeps business good because it creates greater scope for reasons when students come to choosing their place of schooling. Naturally students choose a place which offers them a higher likelihood of employment once they are finished and have completed their degree. 

Ways your business school will help you find employment 

The job search in this day and age is overwhelming and it can be hard work, with the accessibility of finding work fantastic thanks to our digital age, but also a seemingly never-ending task, as there are now so many choices available online and so many ways to apply to those choices it makes searching for work sometimes seem like a job in itself. 

Most schools, however, especially business schools, can help you direct your search down a particular route. They will have an online service themselves where they will post job advertisements relevant to their students’ studies and also potentially within this a community hub for their alumni and new graduates to connect, along with practical tips and hints which can be applied at interviews and in applications. 

Another way your business school can help you in finding employment with their own alumni is through reunion events and alumni clubs, which sometimes count in the tens of thousands. Here you will be able to exchange information with one another which will help aid the success of each party in the long run and help keep everybody current and up to date with their knowledge about the world of business. 

How you can help yourself finding employment 

You have your MBA as a suit of armour and you’re halfway there – the only real way you can go about finding employment after your degree is by being proactive yourself. No amount of alumni events can get you a job or even get you through the doors of those events, only you can. 

It’s also worth noting that with the knowledge of networking in mind, you are going to have to accept that you are indeed a life-long student once you have attained your MBA degree, and that means accepting that you will need to think a little harder about the business school that you choose to attend, because the alumni will matter to them, and as we have learned throughout the course of this article, you. 

There is also another point worth mentioning around an MBA aiding your employment. It is, after all, essentially a business management degree. With this in mind, don’t just think of the job but also the journey. If you can manage somebody else’s business –  you can also do this with your own business. 

So, it wouldn’t be an aversion for anyone if you were to go into business yourself following the successful completion of your MBA degree. You can probably even find offers to get some mentorship within – again – the alumni of your business school if you do choose to go down that route. Being an entrepreneur is just like being any other kind of professional in business.

Again, with these networking events, you could even find someone to invest in your bright idea if you decide it is something worth doing. And again, there are many ways your business school can help you finding work, but ultimately, your success comes down to your work you put in.  

Reasons Why Your Marketing Efforts Could Lead to a Disastrous Result

When you launch a marketing campaign, you hope that your business will become popular and many people will find the ads interesting. Unfortunately, things do not always go as planned. It is possible that the reverse happens. Instead of enticing potential buyers, they end up getting turned off. Although you don’t expect everyone to like the campaign, you don’t plan for things to get worse. These are the possible reasons why instead of boosting your popularity, the reverse might happen.

The information is insensitive

You need to be cautious with the information you put out there. Sometimes, in your effort to be funny, you end up offending people. Make sure that you think about all the words or even the photos you use in your marketing campaign before releasing them. Ask your other employees if they find the injected humour offensive. You can’t pursue a campaign that will most likely hurt your chances of boosting your company’s popularity.

You didn’t make any effort

When you release a marketing campaign, you need to ensure top quality. Whether you are going to post wide roller banners or publish a YouTube promotional video, you can’t settle for anything less. Give people the reason to at least view the ads and eventually buy. When they see that you didn’t even care about the aesthetic appeal or the quality of the content, they will not feel attracted at all.

There were tons of errors

Imagine putting up a roller banner riddled with spelling mistakes and grammatical errors. Instead of convincing people to buy what you offer, you end up pushing them away. They will think that your company is careless in all its dealings. If you couldn’t get the correct spelling in a banner, it could be worse with the quality of your products. Therefore, it helps if you proofread any information you put out there.

You used an inappropriate photo

Your ads need images to make them alive. It helps if you use exciting images of people using your products or symbols that best represent your brand. The problem is when you use a picture that doesn’t represent your brand and it’s also inappropriate. For instance, you might use one that contains sexy models when you are advertising to kids.

Another problem is when you use a stock photo showing images of people that are not representative of the target audience at all. You need to use original pictures and use real people as your models. Let your marketing team determine the appropriateness of the images, along with the other employees in your company.

You need to think twice before you post any campaign online or print any poster. You can’t take things back when they are already out there. You can apologise for the mistake, but people will already have formed their opinion of you. It might be tough winning their hearts back after breaking their trust. They will move on to other options.

Excursion with StalkerWay and Its Estimated Safety and Advantages

Excursion with StalkerWay and Its Estimated Safety and Advantages

The 2010s have become the years of the renascence of the Chernobyl topic. A line of famous video games, novels, and episodes (have you already watched HBO’s ‘Chernobyl’?) show that people are still eager for a so-called ‘Soviet post-apocalypse’ topic. It is quite terrific but attracting to most people, whether if they are enthusiasts or not familiar with it at all. 

Movies and games cannot render the full set of emotions as a live trip can. Luckily, now it is possible and affordable to order a trip to Chernobyl zone and see the mysterious territory of the biggest disaster of the 20th century. For instance, Ukraine has got a range of extreme tourism providers ready to arrange a Chernobyl trip for you. One of the most experienced and reliable is called StalkerWay. Let’s get known what they are ready to present you.

Variety of Places to Visit with StalkerWay
StalkerWay is a company with about 10 years of experience in Chernobyl excursion arrangement. Its experienced tour guides have been searching for the most spectacular and festinating places of the Chernobyl zone to visit. Here is what you are going to see:

  • Town of Pripyat– a silent lifeless town near Chernobyl nuclear plant used to be home for the personnel and families. Being a model Soviet city, it is full of typical architecture sights. Plus, it is a perfect example of nature’s struggle with humanity: after over than 30 years of abandonment, the city has gone overgrown with trees and grass.
  • The Red forest – famous forest where you can observe the full impact on nature cast by the nuclear disaster. Being a regular mixed forest, it covers its visitors with mystery and suspense.
  • Kopachi village – a village with a famous kindergarten. Also, our clients will have a chance to speak with returnees and those who refused to leave.
  • Finally, the nuclear plant itself. Only our clients will be guided to the nearest possible point to observe a nuclear plant. This is your chance to see the symbol of human’s carelessness and irresponsibility.

Many more interesting places to observe, take a photo of and study is waiting for you. StalkerWay will make the fullest trip for you and your friends.

Is It Safe to Travel with StalkerWay?
Here, in StalkerWay, the safety of our clients is our biggest concern. We conduct training and preparations before every trip. You will always be guided by an experienced person ready to solve every trouble. We provide our clients with equipment and legal documents. However, it does not mean you should travel light. Here is a minimal amount of things you need to take with you:

  • A personal document that can prove your identity and the right to stay in Ukraine, if needed (ID card, passport).
  • Set of personal medicine – a guide will provide you with a medical kit if needed, but if you are obliged to take any specific medicine, bring them with you.
  • Clothes and accessories according to the season and weather – be ready to walk through high grass and under the rain.
  • Personal food, if needed – you will be provided with meals, but if you require any special food, we humbly recommend you to take it with you. The same statement concerns little snacks and water.

Consider it a country trip and prepare yourself accordingly. All clients of StalkerWay get insurance. So, it is absolutely safe to travel with us. For a relatively little fee, you will get a full spectrum of emotions and turn another page of your life achievements.

Moscow businessmen earned a trillion rubles for purchases

Moscow Vice Mayor in the Government of Moscow on economic policy and property and land relations Vladimir Efimov declared the total amount of purchases from small and medium enterprises in Moscow for five years on June 6th at the St. Petersburg International Economic Forum 2019.

St. Petersburg International Economic Forum is a unique annual international event in the world of economics and business. Every year at the St. Petersburg International Economic Forum, held with the participation of the President of the Russian Federation, more than 5,000 representatives of political and business circles, leading scientists, members of the public and the media from around the world gather to discuss key current issues.

This year Moscow authorities have presented advanced procurement practices and technical solutions that qualitatively change the contract system at the SPIEF.

Moscow Deputy Mayor on economic policy and property and land relations Vladimir Efimov at the SPIEF 2019 has described the business environment in the capital of Russia. Efimov has stated the following: “Moscow creates open, transparent and equal conditions for business in the procurement market. Specific attention is always paid to participation in the procurement of small businesses. According to the statistics, for a period of five years Moscow customers have made deals with small business for a total amount of 1 trillion rubles.  Today there is a growing trend in the share of small businesses in the city order of the capital.  From the point of view of a retrospective comparison over seven years, the share of purchases from small businesses increased 12 times. The share of small and medium enterprises accounted for up to 40 percent of the total volume of purchases for the last year.”

The automated information system “Supplier Portal” was created by the Government of Moscow to ease small-volume procurement procedures. The online resource helps to increase the competition of potential suppliers, gives an opportunity to objectively evaluate the existing market of offers and analyze information on the fulfillment of obligations by suppliers from government and commercial customers.

As Gennady Degtev, Head of the Moscow Department for Competition Policy, has stated, Moscow procurement market is becoming increasingly interesting for suppliers from the regions.

“Last year share of regional suppliers have accounted precisely for 25 percent of the total volume of Moscow’s purchases from small and medium enterprises. The main source of growth in the presence of small businesses from different parts of the country has become an online resource “Supplier Portal” which was created as a tool for automating the process of small purchases. The system is now in high demand. From 100 to 200 new users are registered on the Internet resource per day. Such an active interest allows us to predict an increase in the share of regional suppliers in the procurement of Moscow to 30 percent this year, ”said Gennady Degtev.

Nowadays over 150 thousand commercial organizations from all over the country are posting offers on goods, works and services on the “Supplier Portal”.

Technical capabilities of the “Supplier Portal” for small purchases in electronic form are used by customers from more than 30 regions.