In this regard, the MEC has issued a slew of tips for potential investors in the sector as part of an initiative based on HE the Minister of Economy and Commerce's Decision No 243 for 2016 on the conditions and regulations governing the practice of street-vending activities.
The advice seeks to focus on the promising investment opportunities in non-oil sectors and create an encouraging environment for the private sector and business leaders in line with prevailing rules and regulations, according to a press statement.
The ministry has specified four steps to launch any street-vending business.
To begin with, investors should start with a work plan for the targeted commercial activity by figuring out potential clients and estimated profits. Besides, they should adopt a strategy that take into account factors such as the budget and anticipated income. In addition, creative business ideas are to be implemented by taking into consideration factors such as the volume of work and the target audience.
Secondly, the MEC advised investors to look for the best location to start the selected activity, such as areas with higher population density and public presence. Also to be borne in mind are issues such as maintaining adequate distance from the entry/exit points of buildings and the need to avoid being in the vicinity of outlets that offer similar services or items.
Then, investors should obtain the necessary licences and permits for the targeted businesses and get the mandatory approvals from the departments concerned, such as the Civil Defence, Traffic Department and Ministry of Municipality and Environment's health affairs department. Also, they should obtain all other relevant certificates and permits before launching a business.
Finally, investors should adopt an innovative approach while launching their projects, giving priority to factors such as the choice of services and items, the proper location and the manner of display.
Earlier, the MEC had specified that street vendors include the owners of mobile vehicles and push carts, including non-motorised bikes and individual vendors.
Regarding the activities permitted, the ministry said those operating with mobile vehicles can work in the fields of tyre maintenance, sale of hot and cold meals, beauty salons and home maintenance.
Those using push carts can sell fruits and vegetables, packed foods, and hot and cold meals, while individual vendors can sell flowers, practise professions requiring certain skilled and handicraft professions, and sell newspapers and gifts, among others.
Meanwhile, the MEC advised investors to be careful while choosing a suitable trademark and look for innovative and attractive designs that can attract customers. Besides, they should ensure the optimum use of social media to promote their businesses.
Investors can also use smart device applications and online resources such as eZee iMenu, MarketMan Restaurant, TripAdvisor, Zomato and Howalk to help them better manage and run their businesses.
