Business In Iraq

The following exerpts have been taken from this editorial by John Zogby in the St. Louis Buisness Journal:

Zogby International conducted a poll of 454 owners and managers of small and medium-size businesses in three cities -- Baghdad, Irbil and Hilla. Seven in 10 Iraqi business leaders hold an optimistic outlook toward their country's future post-Saddam, while just one in 10 are pessimistic. These percentages hold up across the nation, though optimism jumps to eight in 10 in Hilla.

The freedom to run a business as they see fit, and have the opportunity to keep their profits evidently appeals to them.

Capital expansion is planned at near-universal levels among Iraq's small and medium-size businesses, with 81 percent in Baghdad, 90 percent in Hilla and 89 percent in Irbil indicating they plan to grow their businesses' capital.

Business owners are doing so well that they are expecting to see an increase in revenue. They actually plan on making more money now than they did under Saddam's rule.

Three-fourths of Iraqi business owners and managers believe that long term, the policy of the interim Iraqi government toward business will improve.

The owner's believe that the long-term effects of a change in rule and government will be positive. They also understand that the current policies toward business need to change, and they expect them to while realizing it may take some time.

Business leaders expressed satisfaction with the level of communication and support for business from the government.

A solid majority (86 percent) of Iraqi business operators believes opening Iraq to the international business community will improve their business, and are fairly passionate about the concept -- half (50 percent) of those polled believe this will substantially improve their business.

You bet they believe it will improve their business, why wouldn't it?

There are still many hurdles to overcome in Iraq, no question about that. But as commerce grows and people become used to their new freedoms in business and the marketplace, the effects will roll over into other areas of the country.

Restructuring a nation's government and giving people a freedom they have never had before will take time. And it will come at a cost. The Iraqi business owners realize that, in time, things will improve, but they already admit that things are better now than they ever have been.

It's best to keep the current events in perpsective while looking through a long-term lense.