One of the main factors that discourage entrepreneurs from starting a business in the Gulf is the taboo of failure. Young men and women worry that if their project is not a success they will be forever labeled as failures rather than pioneers who tried their best. But the truth is that the taboo of failure does not only run in the young. It exists largely because it is not tolerated at the highest levels.
I always believe that each person should be encouraged to do their best. If they aren’t successful in a particular task, they should move on and keep the valuable lessons they gained from their experience.
In the Gulf it is no secret that many investment firms, real estate developers and banks have messed up. These companies over stretched their arms so far that they actually missed their targets and ended up in heavy debt. In some cases these firms had to resort to government bailouts - a term that was never used in the Gulf's dictionary.
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