Silatech: Qatar youth lead Arab world in entrepreneurship
One in three Qataris aged 15-29 plan to start their own business within the next year, according to a new report published by the Qatar’s job creation initiative Silatech and the Gallup research firm.
According to the study, entrepreneurship amongst the younger demographic in the region has been steadily falling since 2009, going from an average 26% across the Arab world to 9% in the fall of 2011. This is attributed to the global economic recession, and political turmoil across the Middle East.
Only Qatar has seen a rising number of young entrepreneurs, Silatech says, going from 24% in 2009 to 33% in its most recent poll. And the reasons for that? They have access to resources like funds, training & mentors.
Young Qataris’ likelihood of starting businesses appears to be increasing as conditions become more favorable for entrepreneurs. The government is vigorously promoting support services for aspiring and current entrepreneurs as young Qataris seek to start a business.
All the same, and despite changing attitudes, Silatech found that most Qatar (58%) would prefer to work for the government, in line with views across the region. And with last year’s announcement of a 60% pay rise for all Qatari government employees, why wouldn’t they.
Read the full report:
Credit: Photo of Qatari entrepreneur Khalifa Haroon by ictQatar