Strengths And Weaknesses Of Entrepreneurial Environment

Decent Essays
The entrepreneurial environment in Egypt has its strengths and weaknesses. Beginning to analyze the strengths, Egypt's young population is one of the greatest entrepreneurial strengths in Egypt, as a large young and educated population is the country’s potentially most valuable resource that could be a driving force for a much-needed economic expansion and new innovative ideas. As characteristics of today's youth can be a competitive advantage for the entrepreneurial environment such as their computer skills, their ability to respond and cope with new economic trends, and their efficiency in promoting innovation to increase competition in the market place (Hattab, GEM Egypt 2012 Report, 2013). Even more, another entrepreneurial strength in Egypt is its open market as the favourable changes that has…show more content…
To explain, few financing options, high investment risk, poor structure of investment climate (BUSINESS SWEDEN DUBAI, 2015). According to Hattab, "entrepreneurs look for funding with their personal money, family members and friends rather than going to financial institutions" (2010). Moreover, lack of business information and marketing trends and dimensions can highly affect the entrepreneurial environment in Egypt. Education and training, research and development, and access to knowledge and information in Egypt is found to be quite hard to find (Hattab, GEM Egypt 2012 Report, 2013). Lastly, Egypt's cultural mindset and social norms is one of the challenges that may face entrepreneurs. As it has always been the most common that students graduate to be employed by the government because it was the most ‘guaranteed and stable’ job the market could offer, while starting one’s own business; is not always a socially and culturally accepted idea (BUSINESS SWEDEN DUBAI, 2015). On the other side, one of the major strength that
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