Printer Friendly

Recession breeds start-ups too.

Byline: Mrudu Naik

MUSCAT Muscat, Maskat, or Masqat (all: mŭs`kăt, mŭs`kət), city (1993 pop. 533,774), capital of Oman, SE Arabia, on the Gulf of Oman. It is flanked by rugged mountains.  Eoe1/4" As the worst global downturn since the 1940s forces companies around the world to cut staff, more and more people are thinking about starting their own businesses.

Mohammed Al Maskari, director-general, Knowledge Oasis Muscat (KOM KOM King of the Mountain (bicycle racing)
KOM Knowledge Oasis Muscat (Oman)
KOM Kick-Off Meeting
KOM Kingdom O' Magic (computer game)
KoM Knights of Maple
), and organiser of the annual TKM-Ernst & Young Big Business Idea Competition, says: Eoe1/4EoStriking out on your own in such times might seem risky, but if youEoe1/4aore sitting on a great business idea then perhaps you should give it a go. In a downturn, competition dwindles and office space, stock and advertising become cheaper.

Eoe1/4EoIn fact, downturns often encourage creativity. For

instance, Apple, Microsoft and Facebook were all recession start-ups.Eoe1/4A[yen]

Launched four years ago, the goal of the annual business plan competition is to encourage ground-breaking innovations and problem solving problem solving

Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error.
 Eoe1/4" challenging Omani entrepreneurs to make a real difference by developing new markets and making a sustainable profit.

Working on developing accounting software for the finance sector; creating SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM.

(2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server.
 search engines; developing web page templates Eoe1/4" this yearEoe1/4aos selected finalists will deliver five-minute elevator pitches Elevator Pitch

A slang term referring to the 20-60 seconds an entrepreneur has to interest a venture capitalist (VC) in his or her business idea.

Entrepreneurs have about the same amount of time to pitch their idea to a VC as they would if they ran into the VC in
 to an audience of 150 invited guests at the Grand Hyatt Hotel on October 13.

Eoe1/4EoThe gala dinner is always very exciting and highly entertaining,Eoe1/4A[yen] says a smiling KOM director-general. The winners in this yearEoe1/4aos competition will take about six months to get their businesses up and running, and by that time the world expectedly would have climbed out of recession and consumers would have a new-found confidence.

Great time

Eoe1/4EoItEoe1/4aos a great time to strike out with a new business,Eoe1/4A[yen] says Mohammed Al Hinai, TKM TKM Turkmenistan (ISO Country code)
TKM To Kill a Mockingbird (Harper Lee novel)
TKM Teraz Kurwa My
TKM Teras Kasi Master (Star Wars)
TKM Toyota Kirloskar Motor

Surprisingly, a recession can provide opportunities for business start-ups. Eoe1/4EoWhen the recovery begins,Eoe1/4A[yen] says Al Maskari, Eoe1/4Eopeople and

companies start to spend and look for suppliers. Those new businesses that have made their names known through good marketing during the downturn would certainly be noticed.Eoe1/4A[yen]

Rayan Al Kalbani of Mazoon Environmental & Technical Services and former winner of the Big Business Idea Competition says: Eoe1/4EoItEoe1/4aos important to keep things simple and not get carried away by your plans before you know theyEoe1/4aore going to work.

Eoe1/4EoDuring the start-up phase, people tend to make over-optimistic forecasts, and there can be serious consequences for your business if your projections arenEoe1/4aot realistic.Eoe1/4A[yen]

The young entrepreneur goes on to say: Eoe1/4EoStarting a business in an incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the  like TKM is a marvellous opportunity. Since winning the competition and setting-up business, the incubator staff has been amazing a·maze  
v. a·mazed, a·maz·ing, a·maz·es
1. To affect with great wonder; astonish. See Synonyms at surprise.

2. Obsolete To bewilder; perplex.


Eoe1/4EoTheyEoe1/4aove arranged a series of mentor Mentor, in Greek mythology
Mentor (mĕn`tər, –tôr'), in Greek mythology, friend of Odysseus and tutor of Telemachus.
 sessions for me, and those have been brilliant.Eoe1/4A[yen]

As far as advising local entrepreneurs is concerned, Al Maskari believes itEoe1/4aos Eoe1/4Eoall about getting thoughts onto paper and looking at the viability of the business idea.

Eoe1/4EoThis is where business plan competitions like ours play such an important role.Eoe1/4A[yen]

Muscat Press and Publishing House SAOC SAOC Studies in Ancient Oriental Civilization
SAOC Sunbeam Alpine Owners Club (UK)
SAOC Sector Air Operations Center
SAOC South African Orchid Council
SAOC Submariners Association Of Canada (Gloucester, ON, Canada) 

Provided by an company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion




Article Details
Printer friendly Cite/link Email Feedback
Publication:Times of Oman (Muscat, Oman)
Date:Sep 27, 2009
Previous Article:HM gets more Eid greetings.
Next Article:Oman to boost trade ties with Uzbekistan.

Related Articles
High hopes for auction.
Bucking the trend.
Women lead way in fight to beat slump; Diane's challenge.
Recession fears fail to stem start-ups.
District sets trend as start-ups rise by 82%.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters