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Wed 9 Oct 2013 03:12 PM

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Qatar needs more angel investors to encourage entrepreneurs - survey

A survey conducted by Bayt.com reveals that the majority of Qataris would rather be employed than self-employed

Qatar needs more angel investors to encourage entrepreneurs - survey
(photo for illustration only).

Qatar needs more angel investors to encourage entrepreneurship as a new survey found 40 percent of Qataris who replied said they would be keen to run their own business but were put off by the need to obtain the right contacts and were put off by the uncertainty of profit and income.

A recent Bayt.com survey revealed that fifty percent of Qataris prefer to be employed than self employed.

While the majority said they would preferably like to work in the private sector, four in 10 (42 percent) said that, given the choice, they would explore the possibilities of entrepreneurship.

The survey found the top three main concerns Qatari had about setting up their own business were the need to establish the right contacts (rated by 42 percent of respondents) and the uncertainty generating profit and income (32 percent).

“It would seem there are issues standing in the way of people becoming self employed, with finance being the number one problem across the Middle East, it suggests that the region needs more angel investors to step in and help local entrepreneurs; it might also be of benefit for authorities to reconsider their policies, as less stringent regulations could encourage the creation of more start-ups,” said Suhail Masri, VP of Sales, Bayt.com

Seventy two percent agreed that their education has helped them develop an entrepreneurial attitude and the survey found the main reason most Qataris would chose to work for someone else is so they can learn new techniques and skills under different companies.

Another strong motive was the regular income (32 percent) and fixed working hours (28 percent).

Data for the Bayt.com Entrepreneurship in the Middle East survey was collected online from September 1 to 15 2013, with 8,776 respondents from the UAE, Saudi Arabia, Kuwait, Qatar, Oman, Bahrain, Lebanon, Syria, Jordan, Algeria, Egypt, Morocco, and Tunisia.