Remarkably, the economic slowdown has empowered young talent to build new start-up businesses throughout Egypt. This week we want to share 3 reasons why there are more opportunities for new business growth in Egypt than ever before.
Reason #1: Political and social turmoil has created more space for smaller, lesser-known firms to operate in a market once saturated by larger, established firms. In fact, Egypt reported growth of 9,000 new start-up firms in 2013, the most since the country announced statistics on start-up businesses since 2004.
Reason #2: Bloomberg added Egypt attracts more entrepreneurs today than it did before the Revolution! A key factor is that the outcome of the Revolution has encouraged more young Egyptians to fight back and be risk takers.
Reason #3: Another boost for entrepreneurship in Egypt is that tourism has improved. Reuters reported a 20% increase in tourism levels in October 2013 and growth is expected.
(via Ahram Online, Bloomberg, Gulf Business, & Reuters)
Now is better than ever to start a new business in Egypt…and we can help. Check out our SoLoMo (social-local-mobile) solution packages designed specifically to meet the needs of smaller businesses.