Nigerian entrepreneur turns smart spending into business success in Dubai

Gulf News

29-04-2025

Dubai: From budgeting summer holiday expenses as a child to managing a profitable salon today, Amina Bahari's story is proof that financial literacy pays off—literally and emotionally.
When a seven-year relationship ended, she moved to Dubai from Sudan in 2013 with no clear roadmap—but she carried two powerful tools many underestimate: discipline and a deep respect for money. What followed was a decade-long journey of saving with purpose, investing wisely, and building a thriving business in one of the world's most competitive cities.
Raised in Lagos, Nigeria, Amina learned early that 'money was earned, not given.' Her father, the family's sole provider, made sure of that. 'Before any allowance, we had to justify our need with a budget breakdown,' she says. 'He taught us to think critically about spending and saving—skills that I later used in life and business.'
That money mindset eventually led Amina, now 40, to co-found Stay Flawless, a beauty lounge in Dubai, which broke even in just nine months and now runs at a 34% profit margin. But her journey wasn't always glamorous—or easy.
Planning before passion pays off
After gaining over a decade of corporate experience in brand and marketing roles across the GCC, Amina began saving with a specific goal in mind: financial freedom. 'I knew I didn't want to stay in a job forever, no matter how successful I became. I saved aggressively, learned how to read P&L statements, and took time to understand every part of running a business—from logistics to customer service.'
Alongside business partner Hadeel Ismail, Amina invested Dh600,000 of personal savings into launching Stay Flawless in 2021. 'We planned it for two years, and because we understood our market and cost structure deeply, we scaled sustainably. From year one to year two, revenue jumped 105%. The next year, it rose by 45%.'
But the real financial lesson came early.
Avoiding the contractor trap
'One of our first mistakes cost us dearly,' Amina recalls. 'We trusted a contractor who claimed they could handle the fit-out for half the market price. They disappeared after taking Dh150,000.'
It was a painful but invaluable lesson in due diligence. 'Always do background checks and keep your emotions in check—especially when you're excited. That setback taught me the power of professional delegation and the need for contracts, references, and clear communication.'
The value of financial boundaries
Amina's disciplined financial upbringing taught her something many business owners overlook: pay yourself. 'We included fair remuneration for ourselves from the start. Too many entrepreneurs ignore this and end up dipping into savings or running up debt.'
She also avoided the trap of overreliance on credit. 'Unless you have a repayment plan tied to incoming revenue, don't borrow. We only use credit for short-term liquidity—not long-term funding.'
Instead, she focused on strong cash flow management, accurate forecasting, and building emergency reserves.
Tip #1: Save with intention, not just fear
Amina began investing in 2020—not impulsively, but cautiously. She started with low-risk instruments like savings plans and fixed income, then diversified into equity funds and eventually business ventures.
'Savings are great, but inflation erodes idle money,' she says. 'I looked for investments aligned with my values and long-term goals. Passive income, when planned well, creates stability.'
Tip #2: Spend where it matters
Amina's spending philosophy is simple: 'Splurge only where there's return—financial or emotional.'
For her, that meant investing in her team's training and wellbeing. 'Happy teams create happy clients. That's what sustains growth.'
She's also strategic about branding and digital marketing. 'It's tempting to cut costs here, but visibility drives value in competitive cities like Dubai.'
Tip #3: Build financial confidence early
Whether managing a salon or planning retirement, Amina credits her confidence to early financial exposure. 'Budgeting during childhood, negotiating with siblings, presenting plans to my father—all of it helped me become financially fearless as an adult.'
She now applies those same lessons with her team and future business ventures. 'Transparency, structure, and open discussions about money shouldn't be taboo. They build trust—and better decisions.'
Final takeaway: Finance is freedom
Today, Amina enjoys both financial stability and personal freedom. Her days are a mix of business meetings and beach walks, salon reviews and poetry writing. 'Financial planning doesn't mean you can't enjoy life,' she says. 'It means you get to enjoy it on your terms.'
Her advice to anyone looking to take control of their finances—whether starting a business or building savings?
'Track every dirham. Save with purpose. Delegate smartly. And always negotiate—life and money are both flexible if you ask the right way.'