Logo Wide

Damascus Chamber of Commerce Launches Three Initiatives to Encourage Commercial Entrepreneurship

The new initiatives have been designed to encourage young entrepreneurs, promote the culture of entrepreneurship and inspire innovative ideas writes The Syria Times.
Damascus Chamber of Commerce Launches Three Initiatives to Encourage Commercial Entrepreneurship

The Damascus Chamber of Commerce has recently launched three initiatives, as well as commercial entrepreneurship-related activities, to encourage young entrepreneurs, promote the culture of entrepreneurship, encourage innovative ideas and provide business and consultation services for the emerging business sector comprising of young entrepreneurs who to seek establish their own businesses and services projects.

The first activity includes launching an annual award titled “Damascus Chamber of Commerce’s Award for Commercial Entrepreneurship” with the aim of selecting distinguished commercial entrepreneurs and honoring their spirit of initiative, as well as highlighting entrepreneurs and the owners of successful business ideas, within the framework of the Chamber’s activities surrounding commercial entrepreneurship and the incubating of businesses. 

The Chamber said in a statement that the award is a national economic and social initiative created by the Chamber to encourage young people aged 20 – 35 to create new trade ideas as well as innovative and successful marketing initiatives that promote the idea of self-employment and carrying out new projects.

The statement made it clear that the competition is divided into two categories: Best Idea Award, for a new trade enterprise and Best Small or Medium-Sized Trade Enterprise.

Competitions are carried out for 14 contestants divided into two categories. The first place winner of each category is awarded 250,000 Syrian pounds, with second place being awarded 150,000 pounds. 

The Chamber also announced the launch of the Damascus Chamber of Commerce Center for Entrepreneurship as part of their efforts to enhance social and developmental participation of business support organizations. This center aims at supporting the culture of entrepreneurship and free business and encouraging the innovative ideas in the field of trade, industry and services among youth groups, especially from the commercial community in the city of Damascus. 

The Chamber identified the services of the Damascus Chamber of  Commerce’s incubator relating to providing employment and consultation services to the emerging business sector of young entrepreneurs, who seek to establish new commercial and service projects.

These services are represented by annually incubating four to six new trade projects for 9-12 months, during which main services will be provided, including a workspace and business requirements, such as a telephone, computer and fax and e-mail. Other services will also include guidance and consultation through the Chamber’s  specialized scientific staff in the field of marketing, finance and sales, in addition to facilitating administrative procedures when starting a new job. 

The Chamber defined the conditions of incubation of entrepreneurs by stating that they should be between 20 and 35 years-old and they should present their idea or proposed project for evaluation and determine the incubation period according to the type of each project.


This article was edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.

Helpful keywords