Entrepreneurship in the Gulf Cooperation Council. Guidelines by Alexandrina Maria Pauceanu

By Alexandrina Maria Pauceanu

Entrepreneurship within the Gulf Cooperation Council: Entrepreneurship within the Gulf Cooperation Council promotes a realistic method of beginning companies, and comes in handy not just for college kids, but additionally to somebody looking useful insights at the crucial elements of entrepreneurship.

As a wide-ranging advent to theories and their purposes, the publication covers enterprise plans, feasibility reports, and assets of startup cash. Case stories from GCC international locations make the booklet an invaluable resource of guidance for beginning and dealing with a business.

  • Provides neighborhood and neighborhood instances and examples regularly occurring to GCC students
  • Covers all vital topics inside of entrepreneurship, from cultivating entrepreneurial conduct and values, to assets of commercial financing
  • Emphasizes the range of sensible choices on hand to entrepreneurs

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This is clearly shown in the labor statistics presented further for the three major players in GCC. The labor force in private sector is majorly made of expatriate. This ranges from 76% to 96% with Qatar and UAE having the highest number of expatriates (94% and 96%), while Oman having the lowest percentage (76%). The low-skill microenterprises are having their workforce made up of entirely expatriates. This is majorly in many laundries, barbershops, and other small business in side streets and city alleys of the Gulf region.

The failure to meet the regular repayments to banks is because even the most successful SMEs experience challenges in their cash flows. For instance, the enterprises may be providing products and/or services to large companies or government entities, which in most cases take time to honor their payments on time. Such challenges translate into cash flow problems and by default affect the regular loan repayments to the banks. To mitigate such challenges, the government should establish the fast track systems while at the same time encouraging large companies to follow their steps.

Job creation and economic diversification for Gulf nationals are starting to have a major impact as the development of SMEs is highly a governments’ priority. Contribution of Small- and Medium-Sized Enterprises to the Economy SMEs have been the medium for economic growth and major drivers of industrial development. Due to the sheer nature of SMEs in terms of size, operations, and numbers, their role in promoting endogenous sources of development and strengthening of the infrastructure has been recognized.

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