In an astonishing occasion, Egypt came among the 10 finest places for startup businesses around the world, an info-graphic study – conducted by Brighton School of Business- concluded Cairo’s market has been emerging for the past 10 years, where entrepreneurial opportunities are best served to flourish.
After the 2011 uprising, many doors got opened in the Egyptian market -especially Cairo and Alexandria- for young intellectual business ideas. In a contributed article by Forbes’ Amy Guttman, a brief analysis showed Egypt’s startup business standards where it stated: “Cairo and Alexandria’s Internet speed at 2.8m megabytes per second (Mbps), company registration fee for foreigners comes at $200, value- added tax (VAT) at 10 per cent and corporate income tax at 25 per cent.
The startling list also included cities like Beijing, Kuala Lumpur, Warsaw, Moscow, Sydney, Tunis and London, setting Egypt among some of the world’s most active economies. The astounding ranking encourages the huge population of young educated minds, youth who act as a turbine of local economic cycles, and play vital roles in implementing smart businesses that lift-up the country’s economy. The government’s efforts to refresh markets and facilitate businesses are being prioritized, and signs of stability appear to be looming.
