Hadi Khatib on AMEInfo of 18 September 2021 came up with this deep statement on the anxiety list for MENA entrepreneurs that is long, as is the one curing it
The anxiety list for MENA entrepreneurs is long, as is the one curing it
A research report on the mental health challenges and wellbeing of entrepreneurs due to COVID-19 in the MENA region revealed anxiety has several facets in the minds of these leaders. But all of these insecurities have cures.
55% of startup founders said that raising investment has caused the most stress.
More than 95% of entrepreneurs view co-founders as family members and/or friends.
Research finds that entrepreneurs are happier than people in jobs.
EMPWR, a UAE-based digital media agency dedicated to mental health and an exclusive mental health partner for WAMDA and Microsoft for startups, published a research report on the mental health challenges and wellbeing of entrepreneurs due to COVID-19 in the MENA region.
The research indicated that startup founders undergo higher levels of stress than the rest of the region, with twice the likelihood of developing depression issues.
55% of startup founders said that raising investment has caused the most stress; the pandemic was the second most-cited reason cited by 33.7% of respondents. 44.2% spend at least 2 hours a week trying to de-stress.
Other insights, uncovered by the report, include:
A good relationship between co-founders can help startups navigate the pandemic-hit market. More than 95% of entrepreneurs view co-founders as family members and/or friends
Many entrepreneurs live well below their means to fund their ventures, leading to stress that is detrimental to their health
With only 2% of healthcare budgets in the MENA region currently spent on addressing mental health, the impact of the COVID-19 pandemic on young entrepreneurs and achievers could lead to an economic burden of $1 trillion, by 2030, according to the report.
EMPWR’s MENA partners shared special offers on their mental health services for the region’s entrepreneur community.
From Saudi Arabia:
Labayh is offering the technology ecosystem a 20% discount on their online mental health services for 2 months. Promo code: empwr, with the offer valid until October 29.
O7 Therapy are offering 50% off their online mental health services, for 50 Entrepreneurs in the MENA region. Promo code: Entrepreneur50, valid until December 1, 2021.
From the UAE:
My Wellbeing Lab is offering 20 one-on-one coaching sessions to entrepreneurs that wish to be coached and helped; alongside unlimited access for any entrepreneur to their “Discovery Lab”, a platform that gives entrepreneurs and leaders insights into their mental wellbeing as well as their teams. Promo code: MWL21.
Takalam is offering 10% off for 3 months. Promo code: Impact.
Mindtales is offering the MENA ecosystem 50% off their services for one month. Their App can be downloaded here.
H.A.D Consultants is offering 20 one on one coaching sessions to entrepreneurs. Promo code: HAD_SME01.
Nafas, a meditation app focused on reducing stress, anxiety, and help with insomnia, is offering access to its platform. Register as a user via this link to redeem benefits.
Entrepreneurs’ mixed emotions
Entrepreneurs must grapple with uncertainty and being personally responsible for any decision they make. They likely have the longest working hours of any occupational group and need to rapidly develop expertise across all areas of management while managing day-to-day business.
Work on the economics of entrepreneurship traditionally assumed that entrepreneurs bear all the stresses and uncertainties in the hope that over the long term they can expect high financial rewards for their effort. It’s false.
2. Highly stressful, but…
High workload and work intensity, as well as financial problems facing their business, are at the top of the entrepreneurs’ stress list.
But some stressors have an upside. While they require more effort in the here and now, they may lead to positive consequences such as business growth in the long term. Some entrepreneurs appear to interpret their long working hours as a challenge and therefore turn them into a positive signal.
3. Autonomy is both good and bad
The autonomy that comes with being an entrepreneur can be a double-edged sword. Entrepreneurs can make decisions about when and what they work on – and with whom they work. But recent research into how entrepreneurs experience their autonomy suggests that, at times, they struggle profoundly with it. The sheer number of decisions to make and the uncertainty about what is the best way forward can be overwhelming.
4. An addictive mix
The evidence review confirms that, by any stretch of imagination, entrepreneurs’ work is highly demanding and challenging. This, along with the positive aspects of being their own boss coupled with an often competitive personality, can lead entrepreneurs to be so engaged with their work that it can become obsessive.
So the most critical skill of entrepreneurs is perhaps how they are able to manage themselves and allow time for recovery.
Stress management tips for entrepreneurs
Identify what the actual source of your stress is. Is it tight deadlines, procurement issues, raising capital, managing investors’ expectations, building a talented team, or delay in landing the first sale for your new startup business?
Even if numbering more than a few, break them down because unmanageable tasks look simpler when broken down into smaller segments. Then, list down how you plan to successfully tackle each issue. Meanwhile, exercising multiple times a week has been rated as one of the best tactics for managing stress.
Another technique for handling stress is to take a break. Rest as much as you can before going back to continue with the tasks. It’s also a good idea to reach out to friends, family, and social networks because they are likely to understand what you’re going through and offer words of wisdom and courage.
Stay away from energy-sapping junk food. Eating healthy keeps you fueled for the next challenge. Finally, get enough sleep, and power naps. Sleep helps your body and mind recover.
Hadi Khatib is a business editor with more than 15 years of experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about them. He can be reached at: email@example.com
Bibhu Mishra of Humboldt University, Berlin elaborates on Transitioning towards sustainable economy: Role of financial institutions such as Central Banks and financial systems in The Times of India.
Transitioning towards sustainable economy: Role of Central Banks and financial systems
“For peace to reign on Earth, humans must evolve into new beings who have learned to see the whole first”, said Kant.
Climate change is real; it affects and will affect everyone. Mother Nature sends its signals regularly, and most recently through the flash floods in western Germany. These signals are an urgent reminder that we need to take action now. The action must be collective, significant, timely, and futuristic because, in the long term, the risks outweigh the costs.
The Paris climate accord is one such step in the right direction. A holistic and stakeholder-driven approach would be required to achieve the target of maintaining temperature rise by 1.5 degrees Celsius. One of the most significant stakeholders in such efforts is the global financial system. The financial system’s role is pivotal because they provide finance and steer economic growth. Their actions have a significant impact on ESG, i.e., Environment, Society, and Governance.
There is a tremendous surge in investments which keeps ESG at the core of investment decisions. According to Bloomberg, ‘ESG assets may hit $53 trillion by 2025, a third of global AUM’. Despite a phenomenal rise in ESG assets in the past decade, the financial system still faces challenges like ‘short-termism’ and ‘greenwashing.’
Therefore, the role of Central Banks is vital. They look at the financial system of a country as a whole. Former Governor of the Bank of England, Mark Carney coined the concept ‘Tragedy of the Horizon’ to explain this. He argued, “the catastrophic impacts of climate change will be felt beyond the traditional horizons of most banks, investors and financial policymakers, imposing costs on future generations that the current one has no direct incentives to fix.” It is a tricky paradox where the current system has little or no benefits but to save the planet in its current state or better for the coming generations.
Realizing the importance of its role, eight central banks and supervisors created (In December 2017) a ‘Network of Central Banks and Supervisors for Greening the Financial System (NGFS).’The NGFS is aimed to make coordinated efforts to combat climate change. As of June 30, 2021, the NGFS has grown to a network of 95 members and 15 observers. The Network’s purpose, in their own words; “to help strengthen the global response required to meet the Paris agreement’s goals and enhance the role of the financial system to manage risks and mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development.”
The NGFS is a significant step towards bringing central banks of different countries together and ensuring that central banks take the leadership role in fighting against the climate crisis. In its first comprehensive report (Pub 2019), It came up with the following six suggestions and floated the idea of global collective leadership.
Integrating climate-related risks into financial stability monitoring and micro-supervision
Integrating sustainability factors into own-portfolio management
Bridging the data gaps
Building awareness and intellectual capacity and encouraging technical assistance and knowledge sharing
Achieving robust and internationally consistent climate and environment-related disclosure
Supporting the development of a taxonomy of economic activities
Additionally, the steps taken by the Central Banks of England (Bank of England) and France (Banque de France) are noteworthy and worth a mention.
Recently, the [Central] Bank of England launched a stress test for banks and insurers to understand the ability of the UK Financial system to cope with climate change. The test is aimed to examine the resilience of the UK’s 19 biggest banks and insurers. The stress test can also be looked at as an acknowledgement that Climate Change poses significant financial risks to the existing financial system. Therefore, early planning of a transition is necessary.
Moreover, ‘Banque de France,’ the central bank of France, took several initiatives to transition the financial industry into zero carbon. In June 2021, the French ACPR (Autorité de contrôle prudential et de résolution, English translation: French Prudential Supervision and Resolution Authority) published the first climate pilot exercise report an overall ‘moderate’ exposure to climate risks.
Let’s understand the risk through an example. Investing in fossil fuels may generate returns in the short term,’ but it will accelerate climate change and, hence, negatively impact the ESG. The negative impact on climate could cause erratic rains or severe drought, leading to an adverse effect on investments made in agriculture and allied sectors. One sector’s gain can be the loss of another sector, posing a significant risk before the overall financial system.
To ensure a smooth transition of the financial system towards sustainability and make it resilient from other systemic risks, early and coordinated action is needed. Central Banks and financial systems have a significant role to play in our journey towards sustainability.
Bibhu Mishra is a German Chancellor Fellow at Alexander von Humboldt Foundation and a researcher with Institute of Asian and African Studies, Humboldt University, Berlin.
SCOOPEMPIREBusiness provides a Guide for MENA Investors in its Essential Tips for Investing in Gold and Silver. Or is it another way to providing a safe door out of the increasingly Fossil Fuels divestment world trends? Let us find out.
A Guide For MENA Investors: Essential Tips For Investing In Gold And Silver
Precious metals such as gold and silver are fascinating investment asset classes, which also offer the benefits of stability and predictability to traders across the globe.
For example, despite being separated by a number of key differences, both gold and silver see demand and price points soar during specific times, in which each asset is heavily influenced by an array of macroeconomic factors.
Interestingly, precious metals are particularly important for MENA populations, both culturally and from a wider investment perspective. However, when is the best time to invest in gold and silver? We’ll explore this question further below!
The Importance of Precious Metals Amongst MENA Populations
While China and India remain the dominant buyers of gold and precious metals in the global marketplace, there’s no doubt that certain MENA countries are becoming increasingly influential within this space.
To provide some context, China and India acquired more than 364 tonnes of gold jewellery alone during the first quarter of 2015, with this number having increased incrementally through 2019.
However, while the US trails behind in third place in terms of precious metal procurement and consumption, MENA nations are beginning to threaten the established status quo within the industry.
Make no mistake; Saudi Arabia and the UAE are now established as the fourth and fifth biggest buyers of gold in the world, with this trend increasingly driven by cultural elements and age-old traditions (particularly those pertaining to religious celebrations and weddings).
The Economic Case for Gold and the Best Time to Invest
In the MENA region, gold purchases are also commonly completed as an investment, particularly given the increasingly uncertain economic climate that persists across the globe.
The world has seen two significant economic crises during the last decade. For example, in the form of the great recession, and the financial fallout from the coronavirus pandemic.
As a result, gold has never been more fashionable and relevant as an alternative investment, thanks to its reputation as a secure store of wealth and viable hedge against uncertainty, and the inflationary pressures of fiat currencies.
While silver boasts similar qualities, it boasts far greater industrial usage, and is far more likely to increase in value as countries move out of a recession. This point of difference underpins the so-called “gold-silver ratio,” which encourages investors to hedge their bets in both metals, by taking a short position in either gold or silver (depending on live prices and the prevailing economic climate).
As a general rule, however, it’s best to purchase gold during times of economic tumult, whilst transitioning to silver as the global economy and demand begins to improve.
Where to Trade Gold and Silver
There are also plenty of options in terms of how to trade gold or silver, aside from physical procurement and leveraging these precious metals as tangible stores of wealth.
You can also trade precious metals through derivative products such as contracts-for-difference (CFDs), which are ideal from a practical perspective, as physical gold trading is incredibly inefficient and non-cost-effective.
Through CFDs, you can also gain flexibility by profiting through gold and silver price speculation, as you can simply trade price movements and fluctuations that occur on a daily basis.
Here is a story told by Professor Paul Bierman about divestment from fossil fuel how-to get rid of this earth’s malefic resource of easiness. In short, it is about salvaging what remains of the earth’s goodness and secure an unaltered future for the coming generations.
For over a century, burning fossil fuels has helped propel our cars, power our businesses, and keep the lights on in our homes. Even today, oil, coal, and gas provide about a lot of our energy needs.
Divesting is the act of removing any financing of the fossil fuel industry, increasingly found to be an unethical industrial human activity. The fossil fuel divestment movement that started gaining attraction in 2010 could not have begun if no palliative industry can procure all that necessary energy.
In recent years, the divest movement from fossil fuels has grown to a multi-trillion dollar movement involving numerous institutions worldwide. And thanks to stricter policies to address the climate crisis, fossil fuels are gradually becoming yesterday’s energy source. They could soon be considered, were it not for the Big Oils and their lobbies, as a nasty, dirty and nuisance liable to damage the planet’s soils, air and above all, its climate. Luckily, Fossil Fuel complicity being no longer hidden, divestment is gradually brought about and sustained by the likes of the professor here.
A fossil fuel divestment ‘how-to’
As a climate scientist, I find fossil fuel divestment to be critical low-hanging fruit, even if its effects are largely symbolic. But it never ceases to amaze me how we struggle to get it done.
At the University of Vermont (UVM) where I’ve taught since 1993, the divestment movement lasted a decade and got nowhere. Then — in less than a year — it happened. A growing student movement did the work. Emboldened by Mike Mann’s visit to campus and Greta Thunberg’s youth activism, students ramped up pressure on the University administration (which initially pushed back with standard lines about fiduciary responsibility). Some savvy students even noticed — buried deep on UVM’s web site — that the Green Fund, a small piece of our endowment, yielded better growth than the rest of UVM’s investment portfolio. Even that reasoned argument fell flat until public action by students and faculty allies threatened UVM’s well-manicured image as the “Environmental University.” In our image, and in the image of Williams College, lies the power for change.
When more than 100 students arrived with signs and speakers at the UVM fall Board of Trustees public comment period (scheduled at 8:30 a.m. on Saturday, October 26, 2019), the dialogue began to change. At the winter meeting several months later, I, along with students, appealed to the board to divest and diversify (to me, these are tightly linked). Hundreds of students cheered under the watchful eyes of several armed UVM police and through rope barricades isolating the board. Still nothing changed. But TV cameras rolled.
When the same students planned to disrupt admitted students’ day visits a month later (we need to convince students to attend UVM since their tuition pays our salaries), decision makers noticed. I was Nordic skiing at dusk when my cell phone rang. It was the provost. She asked, Would I stop the student “activists” from protesting tomorrow? I said no. But I advised that she call and speak to them directly — hear their voices. The students had an audience and the log jam began to break. The board got a new chair. A committee was formed. By summer, the president celebrated “our” decision to divest because it demonstrated UVM’s true environmental mettle.
Our actions may have had a price. In December, UVM proposed to terminate the geology department — one of the big players in climate-change research on campus. Soon after, I was told by a dean that some in the administration had labeled me a “troublemaker.” A few weeks later, the emails and phone calls began. I’ve now heard from staff, faculty, a dean, and a large donor that some of UVM’s leadership team doesn’t believe climate change is real. So far, UVM has declined Freedom of Information Act requests from reporters to release relevant emails. Change does not come easily and without a cost.
What is clear to me now is that concerted student action, in the public square and supported by faculty (and alums!), is key to making change. Divestment means challenging established economic and management power structures; it’s not easy, and it carries risks. But it’s the right thing to do. In the words of the late John Lewis, “Never, ever be afraid to make some noise and get in good trouble, necessary trouble.” The climate crisis mandates we make some noise and get in some good trouble. Every one of us.
Paul Bierman ’85 is a Professor of Geology at the University of Vermont. He lives in Burlington, VT.
Originally posted on Jayson Casper: Man walking past voting wall, Marrakesh, Morocco For the first time in his life, Rachid Imounan cast a vote—and overturned Morocco’s Islamist-oriented government. He is not alone. Turnout surged to 50 percent as liberals routed the Justice and Development Party (PJD), which led the North African nation’s parliament the past…
Originally posted on MENA Solidarity Network: By Anzar Atrar and David Karvala At 4 am on Saturday 21 August, Spanish authorities took Mohamed Abdellah —along with around 30 other Algerians— from the migrant custody centre in Barcelona and deported him. This was bad news for all of them, of course. But Abdellah, an Algerian anti-corruption…
This site uses functional cookies and external scripts to improve your experience.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.