Patience is a virtue and can be an essential element in the creation of a successful business or business leader. Photo: Linkedin Sales Solutions/ Unsplash
Patience is a virtue and can be an essential element in the creation of a successful business or business leader. Photo: Linkedin Sales Solutions/ Unsplash
Patience is a virtue and can be an essential element in the creation of a successful business or business leader. Photo: Linkedin Sales Solutions/ Unsplash
Patience is a virtue and can be an essential element in the creation of a successful business or business leader. Photo: Linkedin Sales Solutions/ Unsplash

What young entrepreneurs need to do to achieve success


  • English
  • Arabic

A relative of mine pointed out how impatient I was in my younger days. “The problem with your generation,” she would say, “is that you don’t put in the time and dedication for anything to work. You have big dreams, but you give up too easy”.

As a teenager, I dismissed her comments and thought they were irrelevant.

It wasn’t until I gave up on a small business idea that I started in college a few years later that I started paying attention to her advice.

“If you just dedicate time and persistence to anything in life, it will become a success,” she had said.

Over the years, I learnt to become more patient. I knew that the success stories we hear about are the result of long years of hard work.

Eventually, I got better at focusing on future goals. Just as my relative had advised, I realised that success — be it on business or personal front — is about showing up every single day, and consistently dedicating time and effort to developing your business, abilities, skills and brand.

While we can’t guarantee that our business journey will be free of challenges, we can control the time we dedicate to our business and trust that persistence results in success in the long run.

Back in my teenage years, even though I was impatient, I was always a dreamer. Like many entrepreneurs, I dreamt of success and a corner, beach-view office.

But dreaming is not enough, like my relative said. To realise my dreams, I needed to believe that my efforts will pay off eventually.

Impatience isn’t unique to me. It’s a pattern I see with many young entrepreneurs. I have worked with a number of young mentees and interns, whose passion and hard work inspire me to think outside the box and to be unconventional.

I have also seen how disheartened they get when dealing with multiple rejections, and how impatient they might get when they don’t see results shortly after pursuing their dream business.

It’s easy to think that only certain kinds of entrepreneurs can make it … those with more experience, with the right background, or those who just got lucky. Though it may be the case for some, it’s not the rule, but an exception.

From what I have seen over the past 12 years, what separates those who make it big in life from those who don’t, is their continuous dedication and commitment to learn, grow and realise their goals.

That consistency is the reason behind every successful entrepreneur I know of, and this is what I urge young and future entrepreneurs to keep in mind.

Commitment and consistency are hard to keep up, especially amid uncertain times, and that’s why not many entrepreneurs end up being successful. But the more committed and persistent you are, the closer you are to realising your goals.

If you are constantly developing your business, learning, growing and networking, it is bound to expand.

I urge young entrepreneurs to ask themselves: do you have what it takes to be persistent to realise your goals?

I promise, that if you do, the results are worth the wait.

Manar Al Hinai is an award-winning Emirati writer and communications consultant based in Abu Dhabi

MATCH INFO

Uefa Champions League quarter-final second leg:

Juventus 1 Ajax 2

Ajax advance 3-2 on aggregate

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

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THE%20FLASH
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TEAMS

US Team
Dustin Johnson, Jordan Spieth
Justin Thomas, Daniel Berger
Brooks Koepka, Rickie Fowler
Kevin Kisner, Patrick Reed
Matt Kuchar, Kevin Chappell
Charley Hoffman*, Phil Mickelson*

International Team
Hideki Matsuyama, Jason Day 
Adam Scott, Louis Oosthuizen
Marc Leishman, Charl Schwartzel
Branden Grace, Si Woo Kim
Jhonattan Vegas, Adam Hadwin
Emiliano Grillo*, Anirban Lahiri*

denotes captain's picks

 

 

Company%20profile
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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
The biog

Profession: Senior sports presenter and producer

Marital status: Single

Favourite book: Al Nabi by Jibran Khalil Jibran

Favourite food: Italian and Lebanese food

Favourite football player: Cristiano Ronaldo

Languages: Arabic, French, English, Portuguese and some Spanish

Website: www.liliane-tannoury.com

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Men’s singles 
Group A:
Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)

Women’s Singles 
Group A:
Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)

Updated: May 12, 2023, 3:19 PM