Entrepreneurship in Algeria
Algeria the largest country in Africa, with most of the Sahara desert to its south and the Mediterranean sea to its north (Entrepreneurial opportunity within the Tourism industry). Having been occupied by French for over a century, Alegria got its independence in 1962, however it continues to use both Arabic and French as their language.
Current Scenario
A socialist government that is responsible for the current state of Algerian people, who depend on social welfare schemes of the government, and not contribute to any economic development. They lack the hunger to create enterprises, to find a problem and create solutions. Although Algeria had got huge reserves of Forex money from the Oil and Gas sector, with which the government did not pursue infrastructure development that could give rise to many industries and diversify its economy, and the setback in using reserves for subsidies has ensured that the country lacks the drive amongst its people to think entrepreneurially.
Algerians are not happy about the system and are protesting for the change. And things are changing slowly. The increased usage of smart phones and internet globally giving rise to many online businesses, has also caught a trend in Algeria. NetBeOpen a web development company, T-Algerie a directory website and Ouedkniss a marketplace, are some of the well known startups in the online space. But their success so far cannot be compared to similar startups in other countries that have a more diversified economy and are market driven. Algeria is yet to open up, surely the successful launching of startups is a sign in that direction, but sustaining them and the ability to launch many more, requires a systemic support.
The Road Ahead
Transforming from a socialist economy to a private market based economy is the prime solution for Algeria. It will result in an increase in investments – domestic and more so international funds. Opening up of the economy will see the country progress in creating businesses, thereby improving its ease of doing business ranking which is currently at 157. Businesses in turn provide jobs, which then helps reducing the unemployment rate which is currently at 11.1 percent overall, and much higher amongst the youth.
Some useful links in relation to the entrepreneurship in Algeria
Is Algeria Ready for Entrepreneurship?
Social Entrepreneurship Among Algeria’s Youth
Algeria Economy: Where has all the money gone?
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