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Damascus Chamber of Commerce Launches Three Initiatives to Encourage Commercial Entrepreneurship

Damascus Chamber of Commerce has recently  launched three initiatives as well as commercial entrepreneurship-related activities to encourage the young entrepreneurs' works, promote the culture of entrepreneurship,  encourage innovative ideas and provide business  and consultation services for emerging business sector comprising young entrepreneurs who seek establishing their own businesses and services projects.

 The first activity includes launching an annual award titled "Damascus Chamber of Commerce’s Award  for Commercial Entrepreneurship" with the aim of selecting distinguished commercial entrepreneurs and honoring their spirit of initiative as well as highlighting entrepreneurs and owners of the successful business ideas within the framework of the activity of the Chamber's Center for commercial entrepreneurship and the Incubator of trade business.

 The Chamber said in a statement that the award is a national economic and social initiative made by the Chamber to encourage young people  aged  20 - 35 to create new trade ideas as well as innovative and successful marketing initiatives that promote the idea of self-employment and carrying out new projects.

 The statement made it clear that the competition is divided into two categories: Best Idea Award for a new trade enterprise and Best Small or Medium-Sized trade enterprise  .

Competitions are carried out for 14 contestants divided into two categories. The value of the prize to be given to the first place in each category is SYP 250 thousand, while the second prize is valued at SYP 150 thousand.

The Chamber also announced the launch of the Damascus Chamber of Commerce center  for Entrepreneurship as part of the objectives of enhancing social and developmental participation of the business support organizations. This center aims at supporting the culture of entrepreneurship and free business and encouraging the innovative ideas in the field of trade, industry and services among youth groups, especially from the commercial community in the city of Damascus.

The  Chamber identified the services of the  Damascus Chamber of  Commerce’s incubator relating to providing  employment  and consulting  services to the emerging business sector of young entrepreneurs who seek to establish new commercial and service projects.

These services are represented by annually incubating 4 to 6 new trade projects for 9-12 months during which main services will be provided, including the place and business  requirements such as a telephone, computer,  a  fax and e-mail. Other services will include also  guidance and consultation through the chamber’s  specialized scientific staff in the field of marketing, finance and sales, in addition to facilitating administrative procedures when starting a new job.

The Chamber defined the conditions of incubation of entrepreneurs by stating that they should be between 20 and 35 years old and they should present their idea or proposed project for evaluation and for determining the incubation period according to the type of each project.

Rawaa Ghanam