Broke Somalis + Instability

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somali_music

somali_music

Whenever I think about starting a business aimed at Somalis in general or Somalia, I can't get past the mental block that the majority are broke and the country is not stable politically/economically etc.

Hopefully this will change in the future but we don't how long that will be. If it's the next few years then it's great to start something now and be ahead of the curve but if it's a few decades then the wait is just too long.

Anyone got past this mental block and have decided to start businesses aimed at Somalis or Somalia?
 
SuldaankaDadka

SuldaankaDadka

somali_music said:
Whenever I think about starting a business aimed at Somalis in general or Somalia, I can't get past the mental block that the majority are broke and the country is not stable politically/economically etc.

Hopefully this will change in the future but we don't how long that will be. If it's the next few years then it's great to start something now and be ahead of the curve but if it's a few decades then the wait is just too long.

Anyone got past this mental block and have decided to start businesses aimed at Somalis or Somalia?
Click to expand...

If your business is solely or largely aimed at Somalis you are doing it wrong. Unless its qaad for reer Edna Adan ...that’s the only exception:manny:
 
somali_music

somali_music

So business like these shouldn't exist?

  • Xawaalad (Payment solutions specific to Somalia, mobile payments)
  • Somali Language (Courses, Books, audios)
  • Business physically based in Somalia (agriculture, solar energy etc)
  • Government Contracts (Importing tech into Somalia, building apps for Government)

Of course you can aim a business at a particular geography or group of people!

What I care about is creating businesses that can help our country or people in someway.
 
SuldaankaDadka

SuldaankaDadka

somali_music said:
So business like these shouldn't exist?

  • Xawaalad (Payment solutions specific to Somalia, mobile payments)
  • Somali Language (Courses, Books, audios)
  • Business physically based in Somalia (agriculture, solar energy etc)
  • Government Contracts (Importing tech into Somalia, building apps for Government)

Of course you can aim a business at a particular geography or group of people!

What I care about is creating businesses that can help our country or people in someway.
Click to expand...

Ask yourself about the viability of these businesses and the ease of entrance to these markets. I would suggest some business courses if you haven’t already done so but at the same time there is no textbook for the Somali way of doing business. My point was more general. Just start with a business don’t worry about Somali this or that. At the end of the day, bad as it sounds business is about the bottom line - are you making money?
 
somali_music

somali_music

There are many reasons for starting a business and it's simply not just about the bottom line. e.g. social enterprise.

My issue is that there is lots of opportunity in Somalia, I just can't get over the instability of the country and the broke-ness of our people.
 
SuldaankaDadka

SuldaankaDadka

somali_music said:
There are many reasons for starting a business and it's simply not just about the bottom line. e.g. social enterprise.

My issue is that there is lots of opportunity in Somalia, I just can't get over the instability of the country and the broke-ness of our people.
Click to expand...

Have you ever run a business?
 
somali_music

somali_music

I run a payments business. Essentially a SaaS product that helps sellers setup an ecommerce store. A bit like Shopify but a lot less features and aimed at those that don't need a full blown clunky ecommerce store.

But I'm thinking about businesses to benefit our country and it's just sad that those that want to help their own country economically have to be fearful of their government or other nut cases that want bribes etc.

I guess he who dares wins!
 
SuldaankaDadka

SuldaankaDadka

somali_music said:
I run a payments business. Essentially a SaaS product that helps sellers setup an ecommerce store. A bit like Shopify but a lot less features and aimed at those that don't need a full blown clunky ecommerce store.

But I'm thinking about businesses to benefit our country and it's just sad that those that want to help their own country economically have to be fearful of their government or other nut cases that want bribes etc.

I guess he who dares wins!
Click to expand...

I kinda disagree with you. Who says your business has to be in Somalia to help Somalia. Hass Petrolium for example is based outside of Somalia and until recently didn’t have any business in Somalia. They still used their profits to build schools inside Somalia. You could do something similar. I think personally that’s probably better because you could help and still not deal with the hassle of bribes, etc as you mentioned. Think about it.
 
somali_music

somali_music

SuldaankaDadka said:
I kinda disagree with you. Who says your business has to be in Somalia to help Somalia. Hass Petrolium for example is based outside of Somalia and until recently didn’t have any business in Somalia. They still used their profits to build schools inside Somalia. You could do something similar. I think personally that’s probably better because you could help and still not deal with the hassle of bribes, etc as you mentioned. Think about it.
Click to expand...

This could work, it's an indirect way of helping Somalia without getting lost in the craziness. Might not be as effective as being on the ground but the options are limited.
 
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