Bayt.com Survey: Entrepreneurship in the Middle East and North Africa

Why do MENA professionals prefer to be self-employed? How difficult is it to set up a company in the region? What are the ambitions and goals of entrepreneurs? What about the most appealing industries for entrepreneurship nowadays? 

Despite the given challenges of setting up a business, entrepreneurship continues to be a growing trend in MENA. Bayt.com has recently conducted ‘Entrepreneurship in the MENA’ survey to understand the views of entrepreneurs as a way to maximize impact and drive growth and innovation in the economy.

Key Findings:

• Two-thirds (63%) of MENA residents prefer to be self-employed/have their own business if given the choice.
• Personal fulfillment (51%) and freedom to choose work-life balance (43%) are the top reasons for preferring to be self-employed.
• The main reasons to prefer to seek employment in a company are learning new skills (41%), regular income (40%), and stability of employment/ job security (37%).
• Of those who are currently employed, 59% are currently thinking of starting their own business.
• The top concern while setting up a business would be procuring finances to start (63%) and hiring the wrong people (33%).

Data for the Entrepreneurship in the Middle East and North Africa Survey was collected online from January 13 to February 3, 2021. Results are based on a sample of 1,763 respondents from the following countries: UAE, KSA, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Iraq, Palestine, Syria, Egypt, Morocco, Algeria, Tunisia, Libya, and Sudan among others.