Startups say Manama a good choice to start business
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Starting a business is easier said than done. Tasks are numerous. First, one needs a business idea, then secure funding, hire employees and market the business.
Tax, relevant licences, permits, bank accounts, and insurance are a few of the umpteen procedures that need constant attention. But even if someone manages to tackle all these, now comes the million-dollar question.
Where to open the shop? Discovering the best place to begin your entrepreneurial adventure and start a business is no mean feat. But don’t panic.
Many people have already gone through that pain and identified which city offers the best market.
According to Sortlist, Manama, the capital city of Bahrain, is a strong contender and fast becoming a favourite destination for entrepreneurs in the Middle East and North Africa region.
The finding considers factors such as broadband speed, public transport, population qualifications, office and electric costs, and happiness. On that scale, Manama, for investors, is ranked sixth on the list that has Saudi Arabia at the top end and Tripoli in Libya at the bottom end.
Manama scored 5.83 out of 10, whereas Riyadh made 7.92, Dubai 7.78, Kuwait 6.95, Amman 5.97 and Istanbul 5.97. The ranking says investors are extremely-happy with Manama. The capital city scored 6.65 on the Happiness scale, beating Saudi Arabia’s 6.49.
The average broadband speed at Manama is 74 Mbps. Dubai tops the ranking with a massive internet download speed of 189.07 Mbps, better than any city in the UK and MENA on this list.
Another area where Manama shines is in literary rate. Manama recorded an ‘exceptional’ 96% literacy rate, second only to Amman.
The average monthly office rental price per square foot in Manama is £245.61 (BD 103.34), extremely lower compared to £617.47 (BD 259.81) in Saudi Arabia at the top.
The average variable electricity price per p/kwh is £4.10 (BD 1.73), which is almost in line with Saudi’s £4.20 (BD 1.77) and significantly cheaper than Jordan’s £8.70 (BD 3.66).
All these factors make Bahrain the 6th most professed business destination for start-ups, whereas Saudi Arabia is at the top.
In Saudi, average broadband speeds of 94.64 Mbps are higher than most, and literacy rates are at 95%. Second on the list is Dubai, with a score of 7.78/10. Closely following is Kuwait City with 6.95/10.
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