(MENAFN-Asdaf News)
Jeddah – Asdaf News:
According to the GoDaddy 2024 Global Entrepreneurship Survey, Saudi Arabian entrepreneurs are well-informed, have a meaningful purpose in becoming a small business owner, and have a positive outlook on how they can leverage technology in their business.
The survey results show that Saudi Arabia’s entrepreneurs are primarily young, with 75% belonging to Gen Z (aged 18-24), outnumbering Millennials (70%), Gen X (46%) and Baby Boomers (0%). Entrepreneurs are still new to starting their businesses, with 69% saying they have been in business for five years or less, but they are proactive, as 76% of respondents indicated they seek mentorship and guidance.
Survey data also shows that the motivation for starting a business is multifaceted, with the top three responses being needing an additional source of income (28%), a way to pursue a passion (28%), and having an idea for a new product or service (14%). Additionally, 80% of entrepreneurs said they were parents (41% mothers, 57% fathers), signaling a desire to pursue meaningful work while managing family demands.
The trend towards purpose-driven entrepreneurship aligns with the view on technology to drive business forward: 87% of respondents recognize the importance of digitalization in their business. This positive view on technology highlights the ability to adapt and be ready to leverage the latest tools and innovations to drive business forward.
Additionally, the GoDaddy 2024 Global Entrepreneurship Survey reveals entrepreneurs’ trust in technology, with 93% saying they are confident in leveraging artificial intelligence tools for their business, and 56% saying they want to use technology to expand their market reach and acquire new customers. These results highlight the determination and drive of Saudi Arabian entrepreneurs to make their way in the business world, blending their passion with technology to launch successful digital start-ups.
Results from GoDaddy’s 2024 Global Entrepreneurship Survey reveal a dynamic landscape of entrepreneurship in Saudi Arabia, where innovation, purpose and technology converge. Entrepreneurship is not only alive in the Kingdom, it’s thriving. As entrepreneurs and small business owners navigate their business journey, GoDaddy stands ready to support them with the online tools, services and guidance they need to start and grow their business.
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