Qatar Development Bank (QDB) opened on Monday its ‘Derwaza Store’ for micro- and home-based businesses at Doha Festival City.
Through the store, micro- and home-business Qatari entrepreneurs will be able to take advantage of the platform to enhance their access to the local market while boosting their business revenues.
Derwaza provides entrepreneurs with a unique opportunity to sell their merchandise and directly engage with customers at one of the largest shopping malls in Qatar. The mall’s huge footfall of visitors and shoppers makes it an ideal space for Qatari entrepreneurs to enrich their customer base and pursue additional growth opportunities.
Having started the store’s application process in August, QDB has since received requests from more than 100 entrepreneurs to join the store, spanning a rich spectrum of business activities that include fashion, arts and crafts, prepacked food and beverages, jewellery, and perfumes.
Following an extensive evaluation process based on preset criteria, more than 70 businesses were granted the opportunity to leverage this distinctive platform and display their goods to shoppers.
Hissa Zainal, head of micro business development at QDB, said the store opening presents micro- and home-based businesses with a great opportunity for growth.
She added: “We look forward to the positive impact that the Derwaza store is bound to have in terms of helping entrepreneurs achieve success as well as the way consumers interact with their businesses and unique products.
“At QDB’s Microenterprise Development Department, we save no effort in supporting these projects, whether through this initiative or other means. We see this as part of our duty and truly believe that their success is a source of pride for all of us.”
The selected businesses will be participating in five waves, each lasting for two weeks, from October 19 to December 31, 2020. This ensures the store will showcase a variety of products on a regular basis, while introducing visitors to the merchandise of a large number of micro- and home-based businesses until the end of this year.
Qatar Museums will also display a number of items in the store that are made by Qatari designers, with the aim of spotlighting the achievements of micro-enterprises and introducing the audience to a wide range of products that are “proudly made in Qatar,” in addition to encouraging local production, in line with QDB’s strategy to support private businesses of all sizes and ambitions.
The selected micro- and home-based businesses include AlDiwan Coffee, The Project, Othough, and Violet Perfumes. In addition to gaining access to the local market, participating projects will be able to harness the ‘Derwaza Store’ platform to increase their sales volume, grow their fan base, collaborate with other businesses, and gain a deeper understanding of market requirements.
As part of QDB’s support package, the bank also provides participating businesses with a dedicated in-store sales assistant to help with the marketing and promotion of their products.