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Entrepreneurship in Israel |
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Israel is not yet consider as an active entrepreneurship country as prove the Total entrepreneurship activity (around 7.0). However, the Israeli government is developing a program to simplify the entrepreneurship. This program is to facilitate Israeli and foreign entrepreneurs to start a business in Israel. |
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| Author: Jim Beach |
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The work force of Israel is known to be well-trained and efficient. A lot of electronic industries and high quality devices industries opened in Israel because of the high educated employees. There are 7 millions people living in the country and the unemployment rate is just under 8%.
Israel bases its economy and its entrepreneurial capacity on the investment capacity. The Israeli money (Shekel) is very stable and the inflation rate of -0.1 in 2007 is excellent. It is very easy to find investors inside the country. There are a lot of different Venture Capitals. It is possible to find several Venture Capitals in the same industry and there are Venture Capitals in all kinds of industry. It is also possible to find Angel investors in Israel but there are not as many as Venture Capitals.
The main economy of the country is communication and electronic. Israel is also called Silicon Valley II in reference of the numbers of communication and internet companies located inside the country.
The second activity is the electronic industry. A lot of well-trained employees are specialized in the electronic filed and a lot of emerging companies are opening in Israel. Few other small activities are developed inside the country. Those activities don’t represent a big portion of the economy but they are very important for the country. Those activities are very specific and generate a lot of wealth for the country. The polishing of diamonds is one of those activities.
With all those advantages, the entrepreneurial situation in Israel is still suffering from the political aspect. The political situation is a strong brake for the Israeli economy and for the entrepreneurs. The current situation between Israel and Palestine generates a very instable place for investment. A lot of foreign investors refuse to invest in Israel because of the political reason. Also, foreign entrepreneurs are not willing to start a business in Israel because of the same reason.
Another reason for foreign entrepreneurs is the religion. Even if the country is open to other religion, the Judaism is always present and it is not always easy to start a new activity. For example, a food industry would have to deal with the rules about Kosher food. Non Jewish employers will also have to deal with specific practices due to the Jewish religion.
About Author
Jim Beach has lived, traveled, and started businesses around the World. He joined the faculty of the Institute of International Business at Georgia State University in 2001and in 2008 moved to the University of Tennessee, and teaches graduate and undergraduate International Entrepreneurship and International Business. He is known for his energy, excitement, and love of teaching. He is also Executive Director of www.InternationalEntrepreneurship.com, the web’s largest source on entrepreneurship for over 100 countries.
Before joining Georgia State University, Mr. Beach was the Co-founder and CEO (from 1993 to 2000) of American Computer Experience of Atlanta. During these years, Mr. Beach grew the company with no capital infusion to $12 million in annual revenue in 2000 and to over 60 permanent and 700 temporary employees, operating in 39 states and in three countries. The company became the world’s largest technology training company for children, and enjoyed corporate tie-ins with M.
Article Source:
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