Research proposal Essay Example | Topics and Well Written Essays - 1250 words - 4

Research proposal - Essay Example The Kingdom is ranked number five in the globe in terms of fiscal freedom with highly secure earnings that have resulted from its stable currency. Further, the economy of the Kingdom is remarkably open to trade and boasts of the lowest mean weighted tariff in the whole MENA area. In order to boost trade further, port handling fees were reduced by the government by half in early 2008. When conducting business with the Arabs, it is likely to meet hard but polite bargaining from people who are experts at it, therefore, one has to be very confident in regards to the contents of contractual agreements (Elashmawi, 2001, p.  180). In the event that there are gaps, the Arabs are good at finding and exploiting them, however, in most of the cases, the Arab businesspersons meet their obligations completely and the experience of doing business with them can be enjoyable and approachable, with the creation of long-lasting trust. Parenthetically, it is rare to find Arabs saying a direct no and this requires that one pays attention and observes in a careful manner (Cullen & Parboteeah, 2014, p.  561). The possible gains of opening and operating a business are numerous but the endeavour is not for the fair hearted. One needs to remember that he or she is not a citizen of the Kingdom and when it reaches a time that he or she has to leave and sell the accumulated interests, t he individual may not have the same amount of time as his or her partner. The key purpose of this study is to amass information concerning the advantages and disadvantages of starting a new business in Saudi Arabia. The study’s objective will also entail proving a detailed review of the activities and requirements that should be met before one starts a new business in Saudi Arabia. The study will dwell especially in the following sub-objectives: The results of this study will be of importance to