{"id":1997,"date":"2019-09-03T10:08:21","date_gmt":"2019-09-03T10:08:21","guid":{"rendered":"https:\/\/promediaz.com\/?p=1997"},"modified":"2019-09-13T15:08:59","modified_gmt":"2019-09-13T15:08:59","slug":"entrepreneurship-in-egypt","status":"publish","type":"post","link":"https:\/\/promediaz.com\/en\/entrepreneurship-in-egypt\/","title":{"rendered":"Why is entrepreneurship in Egypt is a great career choice?"},"content":{"rendered":"

Do you think that having a stable monthly paid job is better, or taking the risk and having your own startup?<\/p>\n

This is a question that has been jumping around since the rise of entrepreneurship in “Egypt”<\/strong>.<\/p>\n

But what is entrepreneurship exactly?<\/p>\n

Is it something that appeared out of nowhere, or is it a term created long ago and developed over the years?<\/p>\n

The study of entrepreneurship goes back to the 17th<\/strong> and early 18th<\/strong> centuries.<\/p>\n

When the term “entrepreneurship”<\/strong> first appeared it frequently was used to indicate the same meaning the word “adventurer”<\/strong> gives.<\/p>\n

Then over the year, the term “entrepreneurship”<\/strong> was seen with many different points of view.<\/p>\n

Yet we didn’t hear about it in the modern world, especially in “Egypt”<\/strong>, until not so long ago.<\/p>\n

What is Entrepreneurship?<\/h2>\n

If you looked up the term “entrepreneurship”<\/strong> you’ll find multiple interpretations and meanings.<\/p>\n

All of which comes down to that entrepreneurship is the idea and act of starting a business in spite of all its risks with the hope of making a change and also having a pleasant profit.<\/p>\n

Moreover, you’ll find that the definitions of entrepreneurs themselves are very helpful in making you understand it.<\/p>\n

These definitions are modern and very descriptive because entrepreneurs are the ones who are achieving those words on the ground.<\/p>\n

This what “<\/strong>Maia Haag”<\/strong>, co-founder, and president of I See Me! Personalized Books and Gifts<\/strong><\/em><\/a> said when she was asked about her definition of entrepreneurship<\/p>\n

“Entrepreneurship is seeing an opportunity and gathering the resources to turn a possibility into a reality.<\/p>\n

It represents the freedom to envision something new and to make it happen.<\/p>\n

It includes risk, but it also includes the reward of creating a legacy.”<\/p><\/blockquote>\n

“Turning a possibility into a reality”<\/strong>, and “creating a legacy”.<\/strong><\/p>\n

These are extremely powerful statements of a phenomenon that can change your life.<\/p>\n

And when any country can truly adopt the idea of entrepreneurship it’s going to be put itself on the map.<\/p>\n

The types of startups that are most common in Egypt.<\/h2>\n

According to “steve blanks”<\/strong>,<\/a> there are 5 types of entrepreneurship:<\/p>\n

Small-Business Startups, Scalable Startups, viable Startups, Lifestyle Startups, and corporate Startups.<\/p>\n

In my opinion, the most famous and common types of entrepreneurship in “Egypt” <\/strong>are:<\/p>\n

\"\"<\/p>\n

Small-Business Startup<\/h3>\n

Small business startups are like starting a small dry cleaner, a phone repairer store, or a small diner.<\/p>\n

You’ll find that the number one goal for these startups is income.<\/p>\n

Entrepreneurs in this case mostly set a conventional business in order to make a living out of it.<\/p>\n

To support one’s self or a family, and it’s not just common in “Egypt”,<\/strong> but mainly world wide.<\/p>\n

But with this type, money is always a problem because there isn’t something new with what they are offering.<\/p>\n

Because mainly no one would want to sponsor and invest in such ordinary ideas.<\/p>\n

But from another point of view, this might be a good thing.<\/p>\n

Because then they’d have to find money on there own, and when it works they’ll have all the success and profit to themselves.<\/p>\n

\"the<\/p>\n

viable Startups<\/h3>\n

This one is mostly all about the idea, to be creative enough.<\/p>\n

To have a product or service providing a unique solution for a common issue.<\/p>\n

Something you can start at home or in a co-working space until it gets big and interested enough to attract sponsors.<\/p>\n

Then next comes investors to take what your most important life work to the next level and shed the light on your idea.<\/p>\n

This might seem easy, but it’s far from that.<\/p>\n

Do you know how many great ideas and effective solutions that get thrown into the dumpster?<\/p>\n

We have a huge number of entrepreneurs mindset in our generations.<\/p>\n

But not everyone has the determination, ambition and the organization skill that suppose to be in every entrepreneur.<\/p>\n

Have a unique helpful idea, plan right, execute right and ask professionals aid, then trust me you’ll probably be the one choosing between investors.<\/p>\n

How important entrepreneurship is?<\/h2>\n

Let me start by setting out an example for you.<\/p>\n

Imagine if you’ve decided to open a co-working space or a center for any kind of course as your own start-up, what do you think you’re going to need?<\/p>\n

Of the top of my head, you’ll need a place, facilities, and furniture in this place.<\/p>\n

You’ll also need instructors, office boy, someone or a few ones to clean, and customer service agents.<\/p>\n

And you should have course materials, plus hiring an individual or a company for the marketing part and so much more.<\/p>\n

Can you imagine how many market sectors you are going to deal with here? how much workforce you’re going to have or use?<\/p>\n

“Shobhit Seth”<\/strong> the freelance financial writer, derivatives trader, and consultant mentioned in his article with “investopedia”<\/strong><\/a><\/p>\n

\n

“For example, a few information technology companies made up the IT industry in “India”<\/strong> during the 1990s<\/strong>.<\/p>\n

The industry quickly expanded and many other sectors benefited from it.<\/p>\n

Businesses in associated industries\u2014such as call center operations, network maintenance companies, and hardware providers\u2014flourished.”<\/p><\/blockquote>\n

That’s right there the importance of entrepreneurship especially in developing countries like “India”<\/strong> and “Egypt”<\/strong>.<\/p>\n

But obviously looking at the current situation of the economic world, you’ll see that “India”<\/strong> is moving forward fast while we’re still having our time.<\/p>\n

The importance of entrepreneurship in Egypt.<\/strong><\/h3>\n<\/div>\n

Entrepreneurship in “Egypt” <\/strong>creates a lot of different job opportunities there for the percentage of unemployment is going to decrease.<\/p>\n

Entrepreneurship flourishes the economy on all levels, entrepreneurs deals and buys from small enterprises as well as big ones.<\/p>\n

This is unlike big company’s that’s all about dealing only with the large entities.<\/p>\n

Most importantly that the world of entrepreneurship is lead by youth, giving their fresh ideas and ambitious spirits the chance to see the light and prosper.<\/p>\n

Why is entrepreneurship a good career choice? especially in Egypt.<\/h2>\n

Just let me start by saying that no one can determine what you should do in life better than you.<\/p>\n

No one can tell you what career to choose, I’m just laying the facts from my point of view, but you’re the one who gets to decide.<\/p>\n

Here is a mind-blowing statistics about the way things are right now as it was mentioned in an article in “Wamda”<\/strong><\/a><\/p>\n

“The number of venture capital (VC)<\/strong> firms, accelerators and incubators in “Egypt” <\/strong>have been increasing, indicating a growing interest in entrepreneurship in “Egypt”<\/strong>.<\/p>\n

In fact, according to one report by the Global Entrepreneurship Monitor (GEM)<\/strong>, launched by The American Univeristy in Cairo School of Business in 2018<\/strong>, 82<\/strong> per cent of Egyptians perceive successful entrepreneurs as having high social status and almost 76%<\/strong> of Egyptians, mostly youth, perceive entrepreneurship as a good career choice, compared to a global average of 61.6%<\/strong>.<\/p>\n

Moreover, 55.5%<\/strong> of non-entrepreneurs surveyed expressed their interest in starting their own business, a percentage that is double the global average.”<\/p><\/blockquote>\n

Entrepreneurship is a good career choice.<\/h3>\n

Entrepreneurship in “Egypt” <\/strong>is considered a good career choice for young men and women, and let me tell you why is that.<\/p>\n

Due to the lack of good education, not keeping up with the world and the changes happening every day, young people find themselves trapped in a society that has a few specific jobs.<\/p>\n

So as the demand for employees meets a high supply, wages stay low and young people are forced to work very hard for a disappointing income.<\/p>\n

But to be an entrepreneur in “Egypt” <\/strong>or even supporting them and working in their entities is something else.<\/p>\n

First of all,<\/strong> entrepreneurs have a liberated mindset, they are not working with the same old methods.<\/p>\n

They are always creative, passionate and keeping up with the different changes in the market.<\/p>\n

Secondly,<\/strong> true entrepreneurs are always on the search for value, for good solutions to essential problems.<\/p>\n

This means they probably going viral in a heartbeat because they will be demanded.<\/p>\n

And third,<\/strong> being your own boss and doing things your own way is a dream for most young people.<\/p>\n

To have things going your way, to decided your working hours and to have hold of your future it’s what being an entrepreneur is all about.<\/p>\n

But of course, nothing is going to happen if these great ideas not crafted well and constructed properly.<\/p>\n

So it’s no surprise that the number of youth starting their own business is increasing and entrepreneurship in “Egypt” <\/strong>is thriving.<\/p>\n

In spite of entrepreneurship being a fine career choice, are there any difficulties in front of it?<\/h3>\n

Unfortunately, yes there are.<\/p>\n

Everything that turns out great has its drawbacks and difficulties, that’s the way life goes.<\/p>\n

So with something magnificent as entrepreneurship normally there would be a few obstacles that might stand in the way of being an entrepreneur.<\/p>\n

While some of them are hard, but can be done like financing or choosing the right team members.<\/p>\n

Other obstacles don’t have solutions or at least the answer is not in the entrepreneur’s hands.<\/p>\n

Here are some of the major barriers we face in the entrepreneurship world.<\/p>\n

Education:<\/strong><\/p>\n

It is one of the biggest problems that face our generation.<\/p>\n

Our education system should be teaching us to have the mindset of an entrepreneur, to be leaders.<\/p>\n

Instead, the message they give us is how to stick to the status Quo.<\/p>\n

Tax and regulations: <\/strong><\/p>\n

This can be a great obstacle a lot of times.<\/p>\n

Vice President of the International Council for Small Business “Ahmed Osman”<\/strong> mentioned<\/span><\/p>\n

“Concerning the regulatory reforms, I hope the new law for SMEs<\/strong> would give the startups tax breaks and incentives.<\/p>\n

President “Abdel Fattah El Sisi”<\/strong> has spoken about entrepreneurship in several events, which is a great change in the government\u2019s mindset, which proves their belief in the role of young people to lead the economy.”<\/p><\/blockquote>\n

The last of his words is the opening for my next obstacle which is “the mindset of Egyptians”<\/strong>.<\/p>\n

Unfortunately, the idea of youth taking the lead is not very popular in “Egypt”<\/strong>.<\/p>\n

Most Egyptians are used to the routine and they are afraid of risking and exploring.<\/p>\n

So normally they find the young generation is impulsive and not wise enough.<\/p>\n

They never see the potentials that our youngs might have.<\/p>\n

But nothing stays the same and at least the government is starting to be on our side.<\/p>\n

\"\"<\/p>\n

On a side note, we need to talk about community helpers known as employees.<\/h3>\n

Not all people are born to be an entrepreneur, and this is nothing to be ashamed of.<\/p>\n

Because even entrepreneurs need the service of great individuals who are working in monthly paid jobs.<\/p>\n

Every business needs an accountant, a customer service agent, a delivery guy, and others.<\/p>\n

So we all complete each other in a way or another.<\/p>\n

And we must have all of the seats filled to last.<\/p>\n

But what is a real shame is to have the mindset of an entrepreneur and do nothing about it.<\/p>\n

To have the talent, skills and the idea to change the world and throw all of this behind your back<\/p>\n

The Conclusion<\/h2>\n

While entrepreneurship may seem like a wonderful dream and paints a bright future for us.<\/p>\n

It’s also a very bumpy road that sometimes can be misleading.<\/p>\n

Entrepreneurship is a crucial key to the growth of our economy and an essential element for the development of any country.<\/p>\n

But don’t get fooled by all of the glamour around entrepreneurs and successful start-ups to think that this is an easy road.<\/p>\n

And you must be aware that in order to be an entrepreneur you have to be a true adventurer because it’s not a walk in the park.<\/p>\n

You might be your own boss, but in return, you have all of the responsibilities over your shoulder.<\/p>\n

You might have free time and can work whenever you like but in return, your going to work twice and sometimes thrice the hours for a normal employee.<\/p>\n

No one said being an entrepreneur is going to be an easy effortless task.<\/p>\n

But if you desire your financial freedom you should definitely embark on this tiring yet satisfying journey.<\/p>\n

And always remember you reap what you sow.<\/p>\n

So whatever your putting your money, time, and energy into is what you get back.<\/p>\n","protected":false},"excerpt":{"rendered":"

Do you think that having a stable monthly paid job is better, or taking the risk and having your own startup? This is a question that has been jumping around since the rise of entrepreneurship in “Egypt”. But what is entrepreneurship exactly? 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