Running a business is never easy, and managing money well is one of the hardest parts. But many successful Gulf entrepreneurs have found smart ways to stay on top of their finances. Whether they’re running restaurants, tech startups, fashion labels, or construction firms, they all share one common skill—budgeting.
We spoke to several Gulf-based business owners who shared how they manage their money without cutting corners. Their tips can help new business owners, freelancers, and even everyday people looking to be more money-wise.
Planning Comes First
Most business owners we talked to said that budgeting starts before they even spend a single dirham. Khalid Al Mansoori, who owns a chain of coffee shops across the UAE, says, “You can’t wait until the end of the month to see where your money went. You have to plan ahead.”
He uses a monthly budget plan that includes all fixed costs like rent, salaries, and bills. Then he adds a safety buffer for unexpected expenses. “We always keep 10% aside in case something breaks or business slows down,” he says.
Don’t Mix Personal and Business Money
One of the biggest mistakes new entrepreneurs make is mixing personal money with business money. Fatima Al Shaikh, founder of a Bahrain-based fashion brand, learned this the hard way.
“In the beginning, I used my personal card to pay for fabrics, models, even rent. I couldn’t tell if I was making a profit or just spending savings,” she explains. She later opened separate bank accounts and started tracking every expense with the help of an accountant. “Now I know exactly how much I’m earning and how much I’m spending,” she adds.
Use Technology to Stay Organized
Today’s business owners have access to powerful tools that make budgeting easier. Apps like QuickBooks, Zoho Books, and Wave are popular choices among Gulf entrepreneurs.
Ahmed Saleh, who runs a digital marketing agency in Riyadh, says software made a big difference. “I used to keep receipts in a box and do the math at the end of the month. It was a mess. Now everything is digital. I get alerts when I overspend, and I can see where every riyal goes.”
These tools also help with tax preparation, payroll, and invoicing, saving time and avoiding mistakes.
Be Careful with Growth
Many Gulf business owners warn against growing too fast. While it’s tempting to open a second store or hire more staff quickly, this can stretch your budget.
Layla Hassan, who owns a home decor business in Doha, says, “We had a great first year, and I wanted to open another store. But my mentor told me to wait. I’m glad I listened.” She focused instead on improving her online store and building a steady customer base before expanding.
Taking small, safe steps has helped her keep control over her budget and avoid debt.
Negotiate Everything
In the Gulf, building good relationships can save you money. Business owners say that negotiating better prices with suppliers, landlords, and service providers is part of smart budgeting.
“Nothing is fixed,” says Omar Al Jaber, who runs a construction company in Kuwait. “I always ask for a better deal. If you’re a regular customer, they will often give you discounts or better payment terms.”
He also joins industry groups and trade associations to get access to shared resources and lower-cost services.
Pay Yourself a Salary
It might sound strange, but many entrepreneurs forget to pay themselves a fixed salary. Instead, they take money whenever they need it, which makes it hard to track business health.
“I treat myself like an employee,” says Fatima. “I get a set salary every month, no matter how much profit the business makes. It helps me avoid overspending and keeps my personal life stable.”
This simple habit ensures that personal finances don’t interfere with business plans.
Learn from Mistakes
Almost every successful entrepreneur has a story about a time they messed up a budget. The key, they say, is learning from it.
Ahmed once spent a large chunk of his yearly budget on a flashy office in downtown Riyadh. “It looked great, but we didn’t need it. Most clients preferred online meetings anyway,” he laughs. He moved to a smaller space and reinvested the savings into hiring better staff and improving services.
These lessons, though painful, often teach the most.
Save for the Slow Season
In many Gulf countries, business slows down during the summer months or Ramadan. Experienced entrepreneurs plan for these quiet periods by saving money during the busy months.
Khalid explains, “Our sales drop in July and August. So we put aside a portion of profits during the high season to cover costs later.” This way, his business doesn’t need loans or last-minute funding during the slow season.
Keep Learning
Most of these business owners agree: budgeting is not something you learn once and forget. The market changes, costs rise, and new challenges come up.
They recommend reading business books, attending workshops, and talking to other entrepreneurs regularly. “There’s always something new to learn,” says Layla. “I follow finance blogs and watch videos on how other businesses manage money.”
Even joining local entrepreneur groups or online forums can offer helpful budgeting tips and fresh ideas.
Final Thoughts
Being good at budgeting doesn’t mean being cheap. It means being smart, prepared, and in control. Gulf business owners who manage their money wisely are not only able to survive tough times—they also grow stronger with time.
Their advice is clear: plan ahead, track everything, use the right tools, and always keep learning. Whether you’re starting a business or trying to save more in your daily life, these tips from the Gulf’s top entrepreneurs can guide you toward better financial health.
Also read: Emirati Entrepreneurs Are Making Big Waves Around the World
