Inexperienced youth who have been financially “guarded and shielded their entire lives,” Bin Hendi said, are basing business ideas on fads as opposed to a legitimate products or services.
Fahim Al Qasimi, partner at UAE-based corporate advisory and investment firm AQ&P, was harsher in his statements. “Go get a job,” he said at the academy, referring to amateur entrepreneurs who lack the experience to set up a business but do so regardless while using investor capital.
In an opinion piece to Arabian Business, Al Qasimi – an entrepreneur himself – said many startups will cease to exist in 2019, stating that claims of being the ‘next big thing’ will be dispelled.Failed startups will be the norm, and a handful of successful exits the exception, Al Qasimi said.
(Source: Arabianbusiness.com YouTube channel)
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