DOHA: Seventy percent of Qatari youth, responding to a survey by the Ministry of Economy and Commerce, said they wanted to take up jobs in the public sector after graduation.
Fifty-five percent of the surveyed said they wanted to set up their business while the remaining 45 percent expressed wish to take up jobs in the private or public sector.
The survey was conducted on the occasion of the recent Youth Empowerment Forum at Qatar University in the context of a new law on establishing commercial companies. The law has removed the minimum capital required earlier for setting up companies with limited liabilities.
Forty percent of youth who expressed intention to set up businesses said they would invest in retail and food and 25 percent chose the construction sector. Twenty percent said they will try in the financial services sector. Only 15 percent had a liking for industries, especially in the energy sector.
Thirty-five percent of respondents believed that enough information about the market, competitors and the law make a business venture successful while 30 percent thought enough capital is the basic requirement for a successful project. Twenty-five percent said fast procedures to start a business is the main factor for success. Only 15 percent felt no project will succeed without skilled workers. On challenges faced by youth to build their future or find a suitable job, 45 percent said there is lack of a clear plan to take an appropriate decision.
Thirty-five percent blamed inadequate information about job market and requirements, while the remaining 20 percent said curriculum and school programmes are not tailored for the job market.
Fifty-eight percent believed the biggest challenge faced by investors is the high prices of land and high rents while 42 percent found high overheads as the main hindrance to start a business.
Twenty-eight percent of respondents said they are involved in some business while 79 percent said they do not have enough information about projects or know very little about business. Forty-four percent said education helps set up a business while 26 percent said education has nothing to do with business.
Majority of youth said high operational costs have forced people to run business from homes rather than at markets and commercial places.
Businesses like processing foodstuff, providing financial and commercial services are appropriate to run from homes, they said. Ninety-seven percent of respondents said home-run business is necessary but should be monitored to make businessmen comply with specifications and health regulations for the protection of consumers’ rights. The Peninsula
