UAE’s entrepreneurship sector is thriving according to the 2024 Global Entrepreneurship Survey by Godaddy.
According to the report, entrepreneurs in the UAE tend to be young, with 64 percent reporting an age between 25 to 39.
Moreover, most have been in business for five years or less despite their relative youth. survey data found motivations for starting enterprises are diverse, top answers being the need for extra income, pursuing a passion, or having a new product idea.
UAE entrepreneurs feel digitisation is important for business
“It’s encouraging to see small business owners and entrepreneurs embracing technology and feel confident in their entrepreneurial journey. We are inspired by their confident spirit and purposeful methodology to entrepreneurship,” Selina Bieber, Vice President for International Markets at GoDaddy said.
Over two thirds of respondents stated they are parents, showing dedication to meaningful work while managing family duties. This aligns with an overall purpose-driven approach to entrepreneurship.
When asked, the vast majority acknowledged digitisation as important for business advancement.
An overwhelming 92 percent expressed confidence using artificial intelligence tools and over half wanting technology to expand their customer reach.
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