Featured SME
Western Express
October 7, 2024
Origin and Challenges: Western Express started with a team of dedicated professionals with a vision to cater to the region’s growing need for logistic support. However, they faced challenges with cash flow, which led to lost business and prime customers.
Expansion Plans: In the next 12 months, Western Express aims to reduce cross-border delivery times for top-tier customers by an average of 3 hours and plans to establish a new branch potentially in Oman, Salalah.
Beehive Funding Success: Beehive’s funding enabled Western Express to address its cash flow challenges, effectively oversee its financial matters, and capitalise on new prospects for growth. Learn more about their journey with Beehive through the Q&A below.
About Western Express
It is a leading logistics company based in Dubai. It focuses on land transportation and helps customers move cargo shipments across various locations in the MENA. In 2013, Western Express expanded to Muscat to support its Dubai office’s operations and grow in the GCC. Their client base includes industrial enterprises, corporations, and private businesses.
Q&A with Mohammed Sajid
General Manager, Western Express
How did the company start?
The company started when like-minded people came together with a vision to cater to the region’s growing need for logistic support. During the initial period, we focused primarily on Dubai, and in 2013, entrepreneurs from Oman joined up to establish a branch in Muscat.
From all the challenges that a new business could encounter, what would you list as the top three?
When we started our business, we encountered three main challenges: collecting payments, ensuring timely deliveries, and handling documentation.
Thanks to our team’s determination and strong customer relationships, we dealt with clients delaying payments and maintained financial stability. We worked with smaller transport companies to ensure timely deliveries and handled any issues related to border regulations for smooth international operations.
What are your business plans for the next 12 months?
Over the next year, our primary focus is on streamlining and effectively managing the needs of our current clients. We are committed to reducing cross-border delivery times for our top-tier customers by an average of 3 hours. Additionally, we plan to establish a branch office in a new area, with Salalah as a potential consideration.
What advice would you provide to someone considering turning their passion into a business idea?
Before starting a business, having a clear vision and well-defined objectives is essential. Thorough market research is crucial for understanding market dynamics. Securing adequate financing and having a contingency plan are also vital to sustaining any business.
How did you find Beehive?
A friend referred us to Beehive, and we were excited to discover the potential advantages of collaborating with them.
What was it like before you used Beehive?
We couldn’t take on some of the big transport contracts at Western Express, as our cash flows were not supportive. As a result, we were losing business to competition and, in turn, losing some of our prime customers.
How did you use the funds you raised on Beehive? What issue was resolved or improved by Beehive’s product?
We used the funds as bridge finance to secure several significant contracts, which allowed us to establish an additional branch in Oman. The business funding from Beehive assisted us in expanding our business operations and addressing our cash flow challenges, enabling us to manage our financial resources and seize new growth opportunities effectively.
Why did you choose Beehive for funding? What features contributed to your decision to use Beehive?
The main factors influencing our decision to select Beehive were the ease and speed of securing financing and the manageable documentation procedures, which contributed to a seamless process.
How did you find the process? How did it compare to other options such as bank loans?
With Beehive, the process was carried out practically and courteously. In the banking industry, the paperwork and the need for a mortgage offset made the finance request impractical for our business needs.
What advice would you give to business owners considering funding? Would you recommend Beehive to other businesses seeking finance?
We highly recommend Beehive to other SMEs because of its fast-funding process. As a business owner, I advise other entrepreneurs to forecast their financial requirements well, ensure they can meet their repayment schedules, and plan for a buffer.
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