Riyadh – Mubasher: Saudi Arabia took the top spots in the Global Entrepreneurship Monitor (GEM) report for 2019/2020, state-run Saudi Press Agency (SPA) reported on Wednesday.
The kingdom accounted for the highest number of people who personally know someone who has started a new business, capturing the positive business scene and desire in commercial work.
It further held the second rank in the indicator of “having knowledge and skills to start a business”, which highlights the positive outcomes of the programmes launched to support males and females in getting their projects up and running.
Moreover, Saudi Arabia came in third place in terms of the governmental policies supporting entrepreneurship and the indicator measuring job creation expectation rate.
In addition, it held sixth place in the indicator assessing promising opportunities to start a project in my area, which increases the chance of opening an activity.
The report further showed that the kingdom has grown to the 18th rank from the 42nd in the “obstacles of entering the local market” indicator and has continued its upward trend to register the 10th rank globally in the "systems and governmental legislations in terms of taxes and bureaucracy” indicator.
The report emphasised the kingdom showcased the highest improvement in the general entrepreneurship scene during 2019, thanks to the initiatives and programmes launched by the Saudi General Authority for Small and Medium Enterprises (Monshaat) with the aim to improve the entrepreneurial cycle.
