10 Practical Steps to Encourage Entrepreneurship and SMEs in MENA

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I came across these interesting steps tweeted by @Ktabaza, and found them worth sharing. I think we need to adopt some more of those. Here are the steps:

  • Step 1: Build Affordable Incubation Facilities in Every City
  • Step 2: Enable Business Registration and Liquidation (in less than a week, and with no minimum capital)
  • Step 3: Enable Cross-border Work Visas (between human resources rich countries, and their neighbors with large markets)
  • Step 4: Provide Equity Funding (for US$ 10K, US$ 50K, US$ 1M, and beyond)
  • Step 5: Relax Financing (provide loan guarantee programs to SMEs with no collaterals)
  • Step 6 Plug-In Academia (transform universities to incubators and services centers)
  • Step 7: Ease Customs and Taxes (5 year tax breaks for knowledge-based businesses, and custom free knowledge infrastructure)
  • Step 8: Enable Technology Transfer (provide free technical assistance to incorporate technology in every business)
  • Step 9: Provide Mentorship (a qualified mentor is the right for every entrepreneur)
  • Step 10: Celebrate Success (embrace and promote success and create more role models)

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