Recently welcomed on to the LEXIT team as Director in the Middle East, Arjen Brusse knows a thing or two about conducting business in the region. Over 11 years as partner at Ernst & Young attests to that, as does two decades in the roles of trusted boardroom advisor and managing partner of his own venture, The Tardis Solutions Company, which bases its operations in both the Netherlands and UAE.
Different business cultures require special insight, and the Middle East is one of them. Markets like UAE and Saudi Arabia now play a major role in the global economy, but there is still a lot to do to fully connect them to the global M&A market. Brusse believes LEXIT can provide real value in this matter to businesses both inside and outside the region.
“One of the challenges in the Middle East is the financial infrastructure as well as the strong local culture in the region. Like everywhere else there are many facilities for startups, and like anywhere else also many businesses fail. But very successful companies in the region struggle to grow outside the region and to go to the next level,” Arjen explains, “This is where LEXIT could really help to boost those companies, both in case of failure and in connecting them to the global M&A world. With the unique LEXIT global marketplace for M&A, the GCC markets the can really be boosted with respect to M&A.”
The differences in how business works in the region require more than just introducing LEXIT and hoping that companies adopt it. “That is the opportunity, and also a challenge, because the culture is very much relationship-based: you need to see people, etcetera. A global M&A market place like LEXIT will fill a gap, but it will also take the right local relationships to make it work.”
Having spent much of his career involved in M&A work, Arjen recognizes that the market is crying out for innovation. He said: “I like the idea and the concept very much, as it’s an innovation on something that I have done for many years, something new that in itself is already so exciting. I think there is real potential for it in the Middle Eastern market.”
“Also in general what excites me about LEXIT is that if you want to sell something, it can open a worldwide market for you, and for people in the Middle East that must be something very exciting - to have a platform that can open up a world of potential buyers for them.”
The challenge of growing a startup after initial success is ubiquitous; they need to follow up by obtaining financing, partnerships, or may even want to sell off the nascent company. This is an area Arjen highlights as needing attention in the Middle East, and one that LEXIT can help with.
“Bringing more efficient cycles, and more dynamic infrastructure into the industry and connecting the region to the rest of the world. There is a need to have a good infrastructure to connect to the global community. You cannot deny that there are some cultural differences, so if LEXIT can help to bridge the Middle East to the rest of the world, it would be a great opportunity.” he stated.