Sometimes, the opportunity to establish a company can result from a misfortune event. Recognising opportunities in such unpleasant situation is key. Riad Taha’s story holds true to this. After breaking the screen of his "iPhone", he found that not only could he fix it himself for less than the market price and quicker, there was an opportunity to do this professionally and build a business.
During the July 26th Touchpoints Business MeetUps event at the social popup restaurant, Chiche!, the Syrian refugee shared his Luxembourg entrepreneurship story. His initial idea has grown beyond repairing phones to providing other IT services (Information Technologies). He currently operates from his first shop in Etterbruck and also from another in Esch-sur-Alzette. Riad shared with the house how he opened a shop in Luxembourg city but closed it within six months. The experience was an interesting topic of discussion as participants reviewed with Riad the reasons for closing the shop. Whereas, in Etterbruck, his business enjoys a less competitive market, Luxembourg was quite the contrary. With low sales to cover high expenses, it was a better decision to close it, participants agreed.