Boosting and Inspiring Dynamic Youth Achievement: A new beginning for Syria's entrepreneurs
Syria, Economics, 4/20/2005

In the presence of Syria's First Lady, Asma al-Assad, a celebration was held in Damascus on Monday evening on honoring ten young Syrian entrepreneurs, marking for progress they made in the project under the title Boosting and Inspiring Dynamic Youth Achievement (BIDAYA).

In an introductory statement, Ms Nouar Shara, public relations director of the Fund for the Integrated Rural Development of Syria (FIRDOS), said that FIRDOS have a particularly special relationship with BIDAYA and can be described as the parent organization, having hosted BIDAYA its first year BIDAYA which was established in August 2004, is a new micro finance program on the verge of its national launch. She indicated that its main objective is to promote the continuing success of Syria's young entrepreneurs and to assist disadvantaged youth to achieve self-employment by providing small loans and supportive mentors.

She indicated that the of BIDAYA started with the visit Mrs. Asma al-Assad to Britain and the experience of the Wale's "Youth Business International" (YBI).

One of the major challenges facing Syria is youth unemployment. In Syria, an active entrepreneurial labor force exists. The society has a long tradition of quality craftsmanship with great potential for improving their skills. But with high population growth rates, the number of unemployed has reached 545,000 according to 2001 statistics, out of which 497,000 are under 30 years old with no work experience.

Ms Shara said that BIDAYA helps to address the challenge as the Syrian partner of the worldwide network of YBI that is already developing and supporting young entrepreneurs in 25 countries.

Rana Shanawani, a Syrian- American who came back to the country to work as a general manager for BIDAYA, focused in her presentation on how to ensure funding, to encourage how to become an entrepreneur. "This is a pilot project, open to suggestions and ideas exchange," she said. She underlined the importance of business mentoring as a well- established concept designed to assist young people in starting their own businesses. She indicated that mentors help produce plans, identify needs and give advice as necessary.

Funds are made available by BIDAYA will be small scale, micro financing arrangements with a maximum 200,000 Syrian Lira (SL) with a three year payback. A key focus of BIDAYA is to provide the correct level of investment for the needs of the local climate.

However, the beneficiary of this program is any Syrian between the age of 18- 35 who will be able to show they have been unable to obtain finance through conventional means; must have a viable business idea; earnings from business should be their main source of income.

A role of one beneficiary was presented in the story of success made by one young Syrian Mohamed Abu Turki who efficiently succeeded in using the 200,000 SL loan in improving his family financial conditions from a taxi driver to its owner.

The role of the mentor was told by Shadi Nadim of the Syrian Young Enterpreneurship Association (SYAE) citing his voluntary experience in selecting entrepreneurs and aiding the beneficiaries on the best use of the loan.

In his presentation Richard Street, YBI senior consultant, said that the challenge is to create sustainable employment and livelihood for young people. He added that in most countries around the world the level youth employment is an average two to three times the national figure.

He said that BIDAYA has created a very viable solution to this challenge. It provides a model to mobilize the business community to provide this help and support. It is a business led organization where local business people replicate what a family would like to provide for their son or daughter but cannot.

He said that BIDAYA is a not for profit organization created by the business community. The board, is mainly made up of business people, business people interview the young applicants and provide them with a volunteer business monitor for their first 3 year and include them in their local business network.

He indicated that with the support and encouragement of their Chair, Her Excellency Mrs. Asma al-Assad, the Board, their General Manager have very successfully developed the program through a pilot phase, some of the results seen in the experience of Mohamed Abu Turki who said he was a zero and has risen to create his own business.

Mrs. Asma al-Assad was invested SYEA order of merit which is awarded only for one time as an appreciation for her efforts in developmental works in Syria.

At the end of BIDAYA's reception certificates of Appreciation were awarded to mentors and young volunteers who helped making BIDAYA's new experience a success.

Tomader Fateh

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