Monday, September 9, 2019

Unforeseen Challenges Facing Entrepreneurs in the UAE Research Paper

Unforeseen Challenges Facing Entrepreneurs in the UAE - Research Paper Example Suggestively, this particular mechanism can be regarded as effective in dealing with this unforeseen challenge (Hoque, 2013). Additionally, taking examples of entrepreneurship strategies applied by successful entrepreneurs in UAE may also contribute to the forecasting ability of these professionals, which can only be possible through practical experiences in the field (Drucker, 2012). Raising capital for the setup When focusing on the Emirati entrepreneurship trends, it can be observed that in comparison to male entrepreneurs, female entrepreneurs have to face significant challenges in terms of capital generation, where their association with smaller business ideas and limited demand for products, increases their obstacles considerably (Kargwell & Inguva, 2012). The only key to solve this problem, entrepreneurs must be adequately aware of the government funding sources made available in support for small entrepreneurs in the UAE. ... Cultural divergences and the currently observed alterations in the Emirati society can be signified as a major constituent in causing this particular challenge for the entrepreneurs (Malit Jr & Oliver, 2013). Contextually, understanding the cultural dimensions, various societal forces affecting the labor market and employees’ motivational needs must be considered as essential for skilled entrepreneurs in UAE to contribute to the efficiency of entrepreneurs in managing the team more efficiently (Drucker, 2012). Finding the right business location In UAE, national entrepreneurs are recently facing this challenge owing to a substantial rise in the competition level from the global plethora, as a consequence of the sudden increase in the penetration of international entrepreneurs (Malit Jr & Oliver, 2013). In this regard, the government should ensure that the skilled small Emirati entrepreneurs are able to obtain adequate support in developing their physical infrastructure and als o take due measures to imbibe technological advancements, which will offer them competitive advantages over the international players. In addition, entrepreneurs from the medium and large-sized business sectors in the UAE should also be encouraged to come forward and support small entrepreneurs so that the location barriers are mitigated substantially. Finding the right employees As employees are the key strengths and pillars of any business, it is very difficult and meticulous work to find right and trustworthy employees who can understand and deliver their committed services to establish a new set up (Cappelli, 2013).  Ã‚  

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