Baskets made out of reeds, date molasses, alabaster and sandstone vessels – handicrafts and small projects constitute an important basis for economic development in Egypt. It is not uncommon to hear of young Egyptians who, instead of waiting for jobs, take a more proactive stance and launch their own business by investing in small, medium and micro enterprises. The important project entity behind the success of these projects is the Small and Medium Enterprises Development Agency (SME). It has provided funding for various projects since its establishment in 1992 of 31 regional offices which cover all Egyptian governorates. The SME Development Agency’s regional offices facilitate all the necessary procedures for entrepreneurs to be able complete the required paperwork, receive loans quickly, access the commercial registry as well as obtain tax cards and licenses for carrying out the projects. Seeking to help young people in their respective projects of interest, which vary between agriculture, the industrial field and other means of production, the agency tries to provide them with funding, by collaborating with multiple banks, NGOs and microfinance associations. This simple and smooth initiative generates thousands of jobs for young people,…
