Monthly Archives

July 2019

Entrepreneurship & the Importance of Knowing the Risks

We have read a lot of inspiring entrepreneurship stories like how some self-made founders or college dropouts who started their endeavors on garages and more rags-to-riches success stories. Nowadays, business owners are deemed as our heroes who save our economic growth as well as the innovation in our communities.

Let us now know some risks of entrepreneurship that every inspiring business owners should keep track of.

1. The reality of starting a business is not glamorous

Entrepreneurship is an unwarrantable line of work, as a matter of fact, only 50% of all businesses reach their 5th birthdays. If ever they stay longer in the industry, these business owners often lack health insurance making them on high risk of poverty in retirement. According to the Treasury Department, there is only 8% contributing to a retirement plan in a year. On the other hand, people with lots of acquired assets, spouses with stable jobs or wealthy families are the best ones to start their own business. Because if all else fails, they are sure to have something to fall back on.

2. Entrepreneurship is not for older workers

For people 50 years and older who’ve moved back into the labor force through entrepreneurship, most of the time their non-pension wealth fails. Opposite to what the common belief is, business owners earn less compared to their spouses who work for someone else. For retirees, the risks accompanying entrepreneurship increase with age.

3. Safety net programs are significant

Safety net programs or what we usually knew as the retirement savings and health insurance are essential to every person as it gives us healthier and happier lives. However, business owners are mostly the ones whose later lives are at risk. We should be aware of the costs and the benefits of being an entrepreneur especially if you are approaching the age of retirement. Thus it is vital that we make the key safety net programs accessible for people of all ages.

Check out this video with famed entrepreneur, Richard Branson, that goes into more detail:

July 26, 2019 0 comment

Business

CNN President Jeff Zucker Says Media Serves as the Government’s Accountability, Amidst President Trumps’ Attacks

written by Feras Antoon

CNN’s Jeff Zucker and President Donald Trump can be considered as the most unusual of enemies. They are two men who helped elevate each other to get into higher positions and then from there they attacked each other.
In November 2012, Trump tweeted, “Great move by CNN if they sign Jeff Zucker.” “He was responsible for me and The Apprentice on NBC — became #1 show!”

However, five years later, Trump forbid CNN’s White House reporter Jim Acosta.
Not quite five years later, Trump banned Zucker’s White House reporter Jim Acosta. Those days of friendly tweets are long gone and now replaced by accusations of “fake news” by Trump and criticism of the President by Zucker.
“The president, and especially the White House press secretary, should understand their words matter. Thus far, they have shown no comprehension of that,” Zucker said in an interview.

Well, the sarcasm is most remarkable to the people who know them well and also to those who are observing media.
Typically, news executives are always on the rush for media covers. However, now while it’s President Trump’s time, Jeff Zucker is in a hurry towards the barricades, viewers and rallying staff to provide quality journalism.

Zucker said, “These are the moves that governments around the world make when they’re less sophisticated and want to block the press from doing its job.”
Meanwhile, Zucker also got a message for CNN: “Do not be intimidated. Go where the story goes. Report the facts. Make sure you’ve got it right. And don’t let things that the president says or that the White House does throw you off your game.”

Just a few years after taking over CNN in 2013, Zucker promoted brimming the big story that consists of a listing cruiseliner, a storm, and missing airliner, all with airtime and human resources just until the next big story surfaced. Trump developed to be a candidate, a sensation, a president, and a catastrophe all at the same time.

“The job of the media is the accountability of government,” Zucker mentioned.
He added: “And I think it’s never been more important than it is today. And I think we are uniquely positioned to do that with our resources and our reach.”

“The job of the media is the accountability of government,” Zucker said. “And I think it’s never been more important than it is today. And I think we are uniquely positioned to do that with our resources and our reach.”

July 19, 2019 0 comment

Business

Lara Shaheen – From Syrian Refugee to Entrepreneur

written by Feras Antoon

Lara Shaheen is a 34-year-old female Syrian refugee who ran away from Damascus after President’s Bashar al-Assad’s regime detained her brothers, though they were released after three months, the experience has driven them to Amman, Jordan. Along with her are her mother, father, and 17-year-old younger sister while her brothers escaped to Germany. After that nightmare, Shaheen’s parents developed some health problems, and that made her the sole provider for her family considering that her brothers are away from them.

Lara said, “I’m the lonely girl who must work to make money for my family.”

While on Jordan, she volunteered with Hemma- a local organization that provides help to Syrian refugees that live outside camps. The Syrian conflict now is in its sixth year, and it seems like banishment is becoming undying for refugees. Additionally, the majority of Syrian refugees cannot work legally in Jordan. Though they can apply for work permits, the process of getting them is very complicated and expensive.

Lara Shaheen - Jasmine Business Initiative

On the other hand, the government carried out some measures that would benefit Syrian refugees. It includes a temporary waiver of application fees and a grace period of up to 90 days for the informal sector employers to get permits for Syrian refugees.

UNCHR said, “This could see up to 78,000 Syrians able to work legally in Jordan in the short term, and thousands more in the coming years.”

While working with Hemma, Lara Shaheen noticed that lots of Syrian women were weaving, sewing and making handy crafts. She took pictures of them and started selling them on Facebook. She then splits the profits with the women. With the help of her Jordanian friend, Shaheen developed the project into a small business, though she doesn’t have a work permit. She called it Syrian Jasmine, and then she rent a small office space in Amman town center.

Syrian Jasmine sells baby clothes, handmade soaps, toys, jewelry, creams and more that were all made by Syrians. She now has 5 women that work for her full time at the office and also buys merchandise from other Syrian women. Many of the women that Shaheen works with says this is their first job.

She said, “In Syria, many men don’t allow their women to work, but here, it’s different because they know they need to make money.”

Lara Shaheen’s and her employees’ story is far from the norm in Jordan. Because of the administrative barriers to working, women refugees face a high risk of assault and abuse like rape. According to reports, women refugees from Syria feels isolated and unsafe and even too scared to leave the house.

The lack of job opportunities and high risk of violence, a lot of Syrian families, sees marriage as the only way to keep their daughters safe which can also support them economically with the use of dowry exchange. Save the Children reported in 2014 that among Syrian refugees in Jordan, one in every four marriages is a girl under 18 years old to a much older man.

July 12, 2019 0 comment