Year - 2021


Entrepreneurship Myths: Strong Start

Entrepreneurship, the journey that starts with a spark of an innovative idea and passion to make a difference and provide something unique, is full of challenges and obstacles, however, with proper planning many, if not all, of the challenges can be avoided and resolved with the least possible damages. There are many Entrepreneurship Myths that sometimes kills the business much earlier than the expected life cycle. In this sequence of articles, I will share with you some of the ”Myths” that might not be always true.

In today’s article we will highlight on the idea that “To start a strong Business I need to invest High Capital”. Some business owners thinks that in order for a business to be competitive it has to start with a big team of employees, multiple production lines, huge infrastructure, and luxurious, huge borrowing, etc. While some businesses might need to incur some of these expenses, others will be able to sustain without the same. It is important to highlight that any item has a cost to the business and that cost implies the need for extra efforts to get income that will cover those costs.

A Business life cycle goes through different stages and many small businesses are unable to survive within the first few years of their inception. It is vital to start the business at the right time with the right resources. It is significant to avoid burdening the business with unnecessary expenses and liabilities. Planned step by step expansion is much better than heavily investing at the early stage.

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Umaima Al Ghadani

Umaima Al Ghadani

Investment Manager- Sharakah