As we are all well aware, entrepreneurship in the Middle East has exploded in recent years and becoming an important source of growth and employment in the region. Evaluating quantitatively entrepreneurship is difficult though and Bayt, the Middle East’s leading recruiting platform, has released several studies and surveys about entrepreneurship in recent years.
In November, Bayt published the results of one of their most comprehensive surveys into entrepreneurship the Middle East has seen. Bayt’s Entrepreneurship in the Middle East Survey 2015 set out to see what the state of entrepreneurship is in the Middle East and there were some very revealing findings. The clear result of all the data is that more and more people in the Middle East are interested in entrepreneurship and are looking to become entrepreneurs themselves.
Here are Bayt’s main takeaways from the results:
- Given a choice, 64% of respondents would prefer to have their own business
- The top advice respondents would give to aspiring entrepreneurs would be to not be afraid of failure (38%)
- Almost half of respondents (48%) do not have any preference when it comes to the best time to set up a business
- 7 in 10 respondents think that entrepreneurs are ‘profit-driven’
- 97% of respondents know at least one successful entrepreneur in their country of residence
To see the full results, click here.