Volume 1 Cedric - revised luca Final - RUIG-GIAN

a reasonable income and independence compared to her previous job with the government.She tried expanding her project by offering cosmetics and other beauty products. She iscurrently employing one worker and hopes to expand to laboratory services with a partner.Her major obstacle is the location’s rather high rent.Firas (male): 32 years old with high school education and good experience and skillsin carpentry. In 1999 he managed to obtain a loan to set up a carpentry workshopspecialized in furniture. He currently employs 10 workers after expanding his project. Theproject faced difficulties during the war, especially with continuous power shortages(overcome by the purchase of a generator). The workshop generates a good income, butnot enough to finance the expansion he has in mind. Firas has a detailed plan ofdevelopment to modernize machines and outputs, but lacks the finance needed toimplement it. He confessed high interest rates were very discouraging.Basheer (male): a 43 year-old industry school graduate, with more than 10 yearspractical experience in a governmental industrial project. He resigned in 1996 to set up hisprivate project producing sweets and candy, which he then sold in order to move into thefield of mechanical appliances. He obtained a government contract supplying licenseplates. The economic sanction periods caused much hardship to production needs. Thecurrent project, which employs 8 people, is expanding in size and product range.Thamer (male): a 40 year-old with primary school education. He has been woring incarpentry workshops since a young age. In 1985 he worked as a partner with his brother,before establishing his own project in 1989 after borrowing enough capital. He started withsimple equipment. Out of his creative ideas he was successful in offering high-qualityfurniture in a nicely located furniture showroom in the Al Mansur area. Although he has aspecial targeted segment of the market, the overall market suffers from cheaper, readymadeforeign products. His major obstacle was the high costs of imported wood during theperiod of economic sanctions.Ibrahim (male): 63 year-old university professor with a PhD in economics. Ibrahimis running a private office offering economic feasibility study services and financeconsultations, as well as printing and stationary. He opened his business with the help ofpast savings. In 2004 he conducted an economic and financial feasibility study to establisha press and publishing company with a partner importing the required equipment fromGermany. He relied on local staff with experience in this field. Since its establishment, theproject has suffered from the prevailing insecurity conditions and power shortages, despitemarket potential. However, he considers the project worthwhile as it generates reasonableincome, and he prefers it to his former governmental job. The project is currentlyemploying more than 12 workers, using modern printing equipment. The partners areplanning to develop the project with additiona l machines that are yet to be imported, butfinance remains their major obstacle in this regard.Ali Shaker (male): a 44 year-old with a BA in economics and businessadministration. He has accumulated business experience in trade of more than 18 years. InAugust 2004, he established a general trading company. The company was his own ideaafter conducting a simple feasibility study. However, business has lost momentum sincelast year due to security conditions, but he hopes the situation will improve to let thebusiness stay in the market. The company is earning less than he would have hoped. Whilehe is awaiting an improved security situation he would like to expand his business anddismisses the idea of converting to another field. He deals with banks and considers it as anadditional source of finance, particularly in emergency cases. He complained of customsregulations, inefficiency and corruption. He is currently employing 4 men.Alaa (male): a 40 year-old, with a high school education in agriculture. He startedworking in 1990 in the trading field of construction materials with his father, then inheriteda business after his father died in 1995. He decided to expand his business after a82