These days, Establishing Companies become so important. With the increasing thoughts about job constraints for individuals, some argue that it makes them “slaves” to it, causing a person to spend most of their life in a repetitive cycle of work, commuting, and sleep, which has been strongly advocated by many thinkers. Ideas are growing around the concept of financial independence.
Some of the most famous of these thinkers include Robert Kiyosaki, the author of the renowned book “Rich Dad Poor Dad,” and others who are somewhat extremist in their views on modern society in general, such as Julius Evola, Ted Kaczynski, or some “Islamic” thinkers like Ali Ezzat Bigovich.
This diversity unquestionably affirms that this is a global intellectual movement. Regardless of our personal opinions on these ideas, we are not here to discuss them. As a result of this, many employees and the general public have started thinking about launching their own projects and establishing companies in general.
Contemplating financial independence and job liberation is an idea that occupies the minds of many. In fact, establishing companies may indeed enable you to achieve this.
While thinking about this aligns with the Vision 2030 of the Kingdom, which aims to increase investments in the Kingdom in general and boost the number of companies, things don’t always proceed so smoothly.
In reality, 4 out of 5 companies close within the first five years of their establishment.
This means that the failure rate is actually around 80%, and perhaps even higher, as it depends on several other factors, such as the state of the market itself and potentially some general economic crises that this market may encounter.
However, these alarming indicators indicate that the dream of financial independence won’t come easily, and the level of risk involved is very high.
In the following part of our article, we will present the most important points to pay attention to in order to ensure success in achieving your goal.
But first, let’s discuss some general points about the importance of companies and how they positively impact economic growth and the increase in the Gross Domestic Product (GDP).
Why is establishing companies important?
Establishing companies has a significant and clear impact on the growth and activity of the country’s economy. Moreover, it has numerous social and cultural implications as well.
Some of the important aspects influenced by companies include:
- Job creation.
- Economic stimulation.
- Collaboration and innovation in labor markets, which enhances the overall quality of life.
- Attracting investments.
- Increased tax revenue, which has some public benefits for citizens.
- Promoting sustainable development.
- Meeting the community’s needs for services and resources.
In general, establishing companies has numerous advantages and benefits that help improve the economy and its growth, as well as increase job opportunities, thereby reducing hostility and crime in the country.
Moreover, if working environments are suitable or toxic, they have a definite impact on the mental health of employees, affecting their families’ mental health as well. Therefore, the matter of increasing the number of companies has significant and diverse effects, both socially and economically, and in terms of competition.
Increasing the number of companies means an increase in the workforce, which subsequently affects the growth of national income and enhances the quality of life.
In the following, we will present the most important points that entrepreneurs should consider when establishing companies.
Camel Advice: We Assist You in Completing Procedures and Licensing When Establishing Companies
Companies come in various forms, but with their diversity, we at Camel Advice are here to help you in establishing companies. Among the services we provide are:
- Establishing companies (Limited Liability Companies – Professional Companies – Joint Stock Companies).
- Managing the company’s bank accounts and operations.
- Registering the company with government entities related to the business.
With Camel Advice, registering your company is much easier. Learn more about our services here, which we offer for establishing companies.
