Morocco World News
Morocco World News
New York, March 27, 2013
The financial crisis has done its best to put Egypt’s economy away in the last couple of years, but Egypt has dug its heels in. Egyptian Government and institutions are hitting back with measures to restore the economy to health.
Meanwhile, it can be hard to start up or run a business in these conditions. How do you do it? There’s work to do and you need people to do it, but there are also labor costs to consider.
On the other side of the equation, what can you do if you’re job hunting but don’t have all the skills required for the job?
The answer lies in training for all.
Train us up
With 750,000 people entering the Egyptian job market each year, and youth unemployment high in the country, training is a solution for job hunters who need to learn new skills and for companies who want to cut their labor costs. While providing them with the skills they need, businesses can offer young people an opportunity and still get the job done.
However, training is more than just a way to cut labor costs. It’s a potentially lucrative business opportunity for entrepreneurs who play their cards right. There’s a distinct lack of in skills among the Egyptian population. Companies who provide training tailored to employment in a specific sector, such as computer training or language tuition, can really capitalize on this.
Where should you look if you’re a business?
Look to the universities. Of the 750,000 people who are entering the Egyptian labor market each year, 200,000 are graduates.
Interestingly, more and more young people are studying business at university. Community services, development, consultancy, communications, social media marketing and IT have also become popular options.
Equipped with theoretical knowledge, graduates leave university hungry to prove themselves. Not only that, they can offer fresh ideas. Many graduates are turning down job offers which they consider themselves to be overqualified for. They’ll be glad of the opportunity.
Where should you look if you’re a graduate?
Many graduates in Egypt are seeking their fortune abroad. But it doesn’t have to be this way. Right now, the industries that offer the most jobs are business, marketing and commercial sales, IT, customer support, engineering and sales and retail.
Of course, starting up your own business is an option. The Internet has changed the face of employment. As governments across the globe wrestle with unemployment figures, many people have made ends meet by setting up their own business, and have used the Internet to do so.
Whether you’re a graduate starting your own business or an entrepreneur who already has your company up and running, remember you’ll need to do some business banking. Despite the turmoil, Egypt still offers great banking facilities. Not only can you manage your business finances, but also benefit from the advice that banks offer with their services for businesses.
And if you’re looking for work, providing work or thinking about setting up your own business, you should consider the option of training. Be it to make money, increase your job prospects or keep your labor costs down, it will get you where you want to be in Egypt.
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