Event Reap: Starting, Growing & Scaling a Sports Business in the Middle East

The Middle East is rapidly becoming a hotspot for sports business, driven by strategic investments, a passionate fan base, and an ambitious vision for the future. This dynamic market presents unique opportunities and challenges for entrepreneurs looking to start, scale, and grow their sports businesses.

In any business journey, making mistakes is a natural part of the process. Missteps, such as misreading the room, provide valuable learning experiences and sometimes necessitate a pivot in strategy. Flexibility and adaptability are crucial in navigating these challenges and seizing new opportunities.

Passion is a key driver that makes the entrepreneurial journey enjoyable and fulfilling. When you are passionate about your work, it becomes more than just a job; it becomes a source of joy and motivation. However, it's important to balance passion with practicality, creating tangible value for sponsors and stakeholders who support your efforts.

Launching a sports business in the Middle East requires a deep understanding of market entry strategies, including market research, legal frameworks, and cultural nuances. Growth tactics involve building a strong brand, engaging with local communities, and leveraging digital platforms. Scaling up presents its own set of challenges, such as securing funding, forming strategic partnerships, and expanding into new markets.

The path to success often involves sacrifices, but surrounding yourself with an amazing team can make the journey more manageable and rewarding. Embrace the challenges that come your way, as they are integral to your growth and success. Sometimes, having no rigid plan or strategy allows you to adapt and flow with the needs of the business, leading to innovative solutions and progress.

The Panel featured industry leaders like David Zabinsky, Wolfgang Hohmann, Damir Valeev, and Lisa Hayhoe, moderated by Rebecca Dance Shuker, delved into these topics. They all shared the highs and lows of setting up a Sport Business in the Middle East their experiences and insights on starting, scaling, and growing, offering valuable takeaways for the audience.This is not the end to this conversation and one MESBN will repeat and adapt for future events. Watch this space.