From The Investor Desk: Shorooq’s Dr. Bilal Baloch On What MENA Founders Should Prioritize Amid Market Shifts
“The strongest companies deepen customer relationships precisely when uncertainty is highest—not because the environment got easier, but because their competitors disappeared, and they didn't.”
When markets shift, the playbook for entrepreneurs often shifts with them. Decisions around capital, communication, and customers suddenly carry more weight—and the margin for hesitation grows smaller.
For Dr. Bilal Baloch, Partner at the UAE-headquartered multi-dimensional investment firm Shorooq, moments like these call for entrepreneurs to double down on a few core fundamentals. In this edition of From The Investor Desk, Dr. Baloch offers his take on the priorities that founders in the MENA region should focus on as markets continue to evolve:
1. Close what you have—now.
“In a dislocation, the cost of capital rises, and fundraising cycles stretch. Founders who come out strongest are the ones who secured financing before they needed it—not the ones who held out for a better valuation that never came. Runway is strategy. Lock it in, and give yourself room to maneuver. Beyond that, assume the next three to six months will be slower and harder than you expect—price that into your planning now, not later.”
Dr. Bilal Baloch, Partner, Shorooq. Image supplied.
2. Know your numbers cold (and be transparent).
“This is not the moment to be fuzzy on your financials. Know your burn to the dollar, run your downside scenarios (the uncomfortable ones), and understand exactly which levers you can pull, and how fast. If pressure is building, whether from a lender, a covenant, or a revenue shortfall, talk to your investors before it becomes a crisis, not after. Transparency is a strength right now. Investors who find out about problems late lose confidence fast. The ones looped in early will fight alongside you.”
3. Turn your network into a revenue engine.
“The instinct in a crisis is to go quiet. Resist it. The strongest companies deepen customer relationships precisely when uncertainty is highest—not because the environment got easier, but because their competitors disappeared, and they didn't. Look hard at your investor networks and portfolio ecosystems for commercial partnerships, warm introductions, and co-selling opportunities. Uncertainty creates collaboration that wouldn't happen in a bull market. Be the founder who is building during this, not just surviving it.”
