UAE ranks 1st in having the most new entrepreneurs in Middle East
New technology platforms being introduced in the country have constantly pushed more UAE residents to become entrepreneurs, revealed a study by social networking website LinkedIn.
Digital platforms have helped residents to overcome traditional barriers that came with officially establishing companies, making the process easier, more accessible and more flourished.
The study also showed that entrepreneurship is the fastest-growing job year-on-year in the UAE as the country recorded the highest percentage of LinkedIn members who are entrepreneurs.
The number is higher than any other country in the Middle Eastern region and has had a growth rate of 98.3 per cent year-on-year.
The study, which based on the inputs of more than 433 million LinkedIn profile members, said: “This increase was most pronounced in the professional services industry. This refers to a range of different occupations that provide support to businesses of all sizes and in all sectors, including services such as tax advice, accounting consultancy, or business consultancy. This was followed by the technology (software sector) and then the retail and consumer product sector.”
More residents are also opting for jobs in smaller-sized companies, according to the study.
“The number of UAE members who indicated that they worked for a company employing fewer than 200 employees has grown by a year-on-year growth rate of 10 per cent,” it said. “For example, the number of UAE LinkedIn members who state that they work for a professional services company employing fewer than 200 employees has increased by more than 20 per cent compared with this point last year.”