Riyadh: Evolving to Become as One of the MENA Region’s Key Entrepreneurial Ecosystems
Abstract
:1. Introduction
2. Theoretical Background
- ESIi = the Entrepreneurship Ecosystem Composite Index for ecosystem “i”
- ESISCi = the partial composite index, representing the average state of the systemic conditions of ecosystem “i”
- ESIFCi = the partial composite index, representing the average state of the framework conditions of ecosystem “i”
- 0.6 = the weight assigned to the systemic conditions within the ESI index
- 0.4 = the weight assigned to the framework conditions within the ESI index,
- while Ni to Di are the quantitative measures representing the following.
- Ni = the average state of networking in ecosystem “i”
- Li = the average state of leadership in ecosystem “i”
- Fi = the average state of finance in ecosystem “i”
- Ti = the average state of talent in ecosystem “i”
- Ki = the average state of knowledge in ecosystem “i”
- Si = the average state of services/intermediaries in ecosystem “i”
- Gi = the average state of formal institutions in ecosystem “i”
- Ci = the average state of culture in ecosystem “i”
- Pi = the average state of the physical infrastructure in ecosystem “i”
- Di = the average state of the demand in ecosystem “i”.
3. Data and Methods
Statistical Methods
- The use of crossed tables and Chi-square tests to describe the sector of activity and the size of the nascent and new and established businesses, which were part of the analyzed sample.
- Rescaling all the items and general APS variables to 0–10 Likert scales. This operation was performed to facilitate the interpretation of the results using the same measure for all the variables involved in the analyses, since some of them were initially measured using 5-point Likert scales, while others were categorical variables whose results were percentages.
- Calculating the averages and other descriptive indicators to describe the average state of all the elements that make up the quality of Riyadh’s entrepreneurial ecosystem.
- The use of ANOVA tests to assess the differences between the opinions of nascent entrepreneurs and new and established owners on the quantitative variables once rescaled.
- Preparation of descriptive tables and graphs.
4. Results
4.1. Networking
4.2. Leadership
4.3. Finance
4.4. Talent
4.5. Knowledge
4.6. Services and Intermediaries
4.7. Formal Institutions
4.8. Culture
4.9. Physical Infrastructure
4.10. Demand
5. Discussion
5.1. The Networking Results
5.2. The Leadership Results
5.3. The Results on Financing
5.4. The Results on Talent
5.5. The Results on Knowledge
5.6. The Results for Services and Intermediaries
5.7. The Results Related to Formal Institutions
5.8. The Results on Culture
5.9. The Physical Infrastructure Results
5.10. The Results on Demand
5.11. Discussion of the Overall Evolution of the Perceptions of the Ten Pillars
6. Conclusions
Author Contributions
Funding
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Universes | 18–64 aged population with residence in Riyadh and Saudi Arabia Entrepreneurs and owner-managers who work in Riyadh |
Sample sizes | Total 18–64 population: 2019 = 1711 2020 = 1718 2021 = 1720 2022 = 1699 Nascent entrepreneurs and owner-managers working in Riyadh: 2019 = 272 + 169 = 441 2020 = 229 + 217 = 446 2021 = 207 + 198 = 405 2022 = 278 + 192 = 471 |
Sampling | Random sampling stratified by gender, age group, and territory, with a slight quota control after collecting 75% of the sample |
Method | Phone calls assisted by a computer (CATI) |
Error | For a confidence level of 95%, the total sampling error has been, for each year, lower than ±5% to represent the estimated opinions of the populations under consideration |
Weighting | The samples were weighted by gender, age group, and territory |
Period | All the years’ data was collected between April and 15th July |
Vendor | Field interactive |
Pillar 1 | Networking | 1–5 Likert Scale |
---|---|---|
Item 1 | How often do you attend local business networking events? | Very rarely Very frequently |
Item 2 | Please tell me how much you agree with the following statement: In Riyadh, it is easy to make personal contacts with other owners of young businesses. | Strongly disagree Strongly agree |
Item 3 | Please tell me how much you agree with the following statement: When you need advice or help with your business, you can easily find the right people through your network. | Strongly disagree Strongly agree |
Item 4 | Please tell me how much you agree with the following statement: Most business owner-managers in the same industry and region as you actively participate in at least one local business network. | Strongly disagree Strongly agree |
Item 5 (GAPS) | Do you know someone who has started a business in the last two years? | 0 = none 1 = one 2 = 2–4 3 = 5 or more |
Item 6 (GAPS) | In my country, you will often see companies whose primary goal is to solve social problems. | Strongly disagree Strongly agree |
Pillar 2 | Leadership | 1–5 Likert Scale |
Item 7 | How often do you get mentoring for your new business from established entrepreneurs in your area? | Very rarely Very frequently |
Item 8 | How often do you mentor new business owners? | Very rarely Very frequently |
Item 9 | Your decision to start your own business was strongly inspired by a startup or business from your region. | Strongly disagree Strongly agree |
Pillar 3 | Finance | 1–5 Likert Scale |
Item 10 | You feel there are adequate sources of external capital seed in Riyadh. | Strongly disagree Strongly agree |
Item 11 (GAPS) | Informal investment in RiyadhRR: Informal investors at a regional rateNR: Informal investors at a national rate | 1 = RR/NR < 1 2 = RR/NR = 1 3 = RR/NR > 1 |
Pillar 4 | Talent | 1–5 Likert Scale |
Item 12 | In Riyadh, there is no shortage of certain types of employees needed for one’s business. | Strongly disagree Strongly agree |
Item 13 | You can afford to hire the employees you need for your business locally. | Strongly disagree Strongly agree |
Item 14 | You are satisfied that the skills of the Riyadh workforce are sufficient to meet your business needs. | Strongly disagree Strongly agree |
Item 15 (GAPS) | You have the knowledge, skills, and the minimum experience required to start a new business | Strongly disagree Strongly agree |
Pillar 5 | Knowledge | 1–5 Likert Scale |
Item 16 | Your business is built based on the result of something you learned from a person or organization in your region. | Strongly disagree Strongly agree |
Pillar 6 | Services and Intermediaries | 1–5 Likert Scale |
Item 17 | In your region, your new business is strongly supported by a program focused on startups (e.g., an accelerator or incubator program). | Strongly disagree Strongly agree |
Item 18 | In general, there are enough workshops and other training opportunities available in Riyadh to help you learn the business skills you need for your business. | Strongly disagree Strongly agree |
Pillar 7 | Formal Institutions | 1–5 Likert Scale |
Item 19 | When starting your business, it is not a serious problem to face bureaucracy and regulations. | Strongly disagree Strongly agree |
Item 20 (GAPS) | In Riyadh, it is easy to start a business, agree/disagree. | Strongly disagree Strongly agree |
Pillar 8 | Culture | 1–5 Likert Scale |
Item 21 | Most people in Riyadh support individuals interested in becoming entrepreneurs. | Strongly disagree Strongly agree |
Item 22 (GAPS) | Fear of failure is not an obstacle to starting a new business | Strongly disagree Strongly agree |
Item 23 (GAPS) | In Riyadh, most people consider starting a new business a desirable career choice. | Strongly disagree Strongly agree |
Item 24 (GAPS) | In Riyadh, those successful at starting a new business have a high level of status and respect. | Strongly disagree Strongly agree |
Pillar 9 | Physical Infrastructure | 1–5 Likert Scale |
Item 25 | How satisfied are you with Riyadh’s transportation infrastructure (e.g., parking, roads, and traffic flow) in relation to your business needs? | Completely unsatisfied Completely satisfied |
Item 26 | How satisfied are you with Riyadh’s telecommunications and Internet access and speed for your business needs? | Completely unsatisfied Completely satisfied |
Item 27 | How satisfied are you with the availability and price of additional physical space in Riyadh to grow your business relative to your business needs? | Completely unsatisfied Completely satisfied |
Pillar 10 | Demand | 1–5 Likert Scale |
Item 28 (GAPS) | In the next six months, there will be good opportunities for starting a business in the area where you live. | Strongly disagree Strongly agree |
Year 2019 | ||||||
---|---|---|---|---|---|---|
Type of Actor | Not Classified | Extractive | Transforming | Business Services | Consumer-Oriented | Total |
Nascent | 10.7% | 1.1% | 19.1% | 8.1% | 61.0% | 100.0% |
New or EBO | 4.8% | 13.7% | 10.1% | 71.4% | 100.0% | |
Total | 8.4% | 0.7% | 17.0% | 8.9% | 65.0% | 100.0% |
Chi-Square | 10.158 | p-value | 0.038 | Most businesses were consumer oriented in both groups. | ||
No jobs | 1–5 jobs | 6–19 jobs | 20+ jobs | Total | ||
Nascent | 43.8% | 13.2% | 32.7% | 10.3% | 100.0% | |
New or EBO | 5.3% | 52.1% | 34.9% | 7.7% | 100.0% | |
Total | 29.0% | 28.1% | 33.6% | 9.3% | 100.0% | |
Chi-Square | 109.84 | p-value | 0.000 | Owner-managers created more job positions than nascent. | ||
Year 2022 | ||||||
Type of Actor | Not Classified | Extractive | Transforming | Business Services | Consumer-Oriented | Total |
Nascent | 2.9% | 0.7% | 3.6% | 1.1% | 91.8% | 100.0% |
New or EBO | 2.6% | 0.5% | 7.8% | 5.2% | 83.9% | 100.0% |
Total | 2.8% | 0.6% | 5.3% | 2.8% | 88.5% | 100.0% |
Chi-Square | 11760 | p-value | 0.019 | Most businesses were consumer oriented in both groups. Time intensified this trend. | ||
No jobs | 1–5 jobs | 6–19 jobs | 20+ jobs | Total | ||
Nascent | 67.0% | 21.9% | 6.8% | 4.3% | 100.0% | |
New or EBO | 3.6% | 73.1% | 16.1% | 7.3% | 100.0% | |
Total | 41.1% | 42.8% | 10.6% | 5.5% | 100.0% | |
Chi-Square | 192.44 | p-value | 0.000 | Owner-managers created more job positions than nascent. |
Items for Pillar 1: Networking (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
How often do you attend local business networking events? | ||||
Average: Nascent entrepreneurs | 5.04 | 5.77 | 5.64 | 6.91 |
Std. error: Nascent entrepreneurs | 0.14 | 0.16 | 0.14 | 0.14 |
Average: New and established owner-managers | 4.40 | 5.07 | 5.80 | 6.83 |
Std. error: New and established owner-managers | 0.15 | 0.19 | 0.16 | 0.18 |
Average: Total | 4.79 | 5.51 | 5.72 | 6.87 |
Std. error: Total | 0.10 | 0.12 | 0.11 | 0.11 |
ANOVA test, p-value | 0.003 | 0.006 | 0.466 | 0.745 |
In Riyadh, it is easy to get in touch with other owner-managers of nascent businesses. | ||||
Average: Nascent entrepreneurs | 5.31 | 7.79 | 7.32 | 6.86 |
Std. error: Nascent entrepreneurs | 0.13 | 0.13 | 0.14 | 0.13 |
Average: New and established owner-managers | 6.02 | 7.58 | 7.86 | 7.08 |
Std. error: New and established owner-managers | 0.16 | 0.15 | 0.14 | 0.16 |
Average: Total | 5.60 | 7.71 | 7.58 | 6.95 |
Std. error: Total | 0.10 | 0.09 | 0.10 | 0.10 |
ANOVA test, p-value | 0.001 | 0.307 | 0.006 | 0.289 |
When you need advice or help with your business, you can easily find the right people through your network. | ||||
Average: Nascent entrepreneurs | 6.84 | 7.86 | 7.32 | 6.95 |
Std. error: Nascent entrepreneurs | 0.15 | 0.12 | 0.14 | 0.14 |
Average: New and established owner-managers | 5.96 | 7.66 | 7.74 | 7.35 |
Std. error: New and established owner-managers | 0.16 | 0.15 | 0.14 | 0.16 |
Average: Total | 6.46 | 7.79 | 7.53 | 7.11 |
Std. error: Total | 0.11 | 0–09 | 0.10 | 0.10 |
ANOVA test, p-value | 0.000 | 0.308 | 0.042 | 0.072 |
You can meet most business owners and managers in your industry and region by actively participating in at least one local business network. | ||||
Average: Nascent entrepreneurs | 5.05 | 7.32 | 7.27 | 6.85 |
Std. error: Nascent entrepreneurs | 0.15 | 0.13 | 0.15 | 0.14 |
Average: New and established owner-managers | 5.71 | 7.25 | 7.53 | 7.18 |
Std. error: New and established owner-managers | 0.14 | 0.17 | 0.13 | 0.17 |
Average: Total | 5.32 | 7.29 | 7.40 | 6.99 |
Std. error: Total | 0.11 | 0.19 | 0.10 | 0.11 |
ANOVA test, p-value | 0.004 | 0.739 | 0.225 | 0.145 |
Do you know someone who has started a business in the last two years? | ||||
Average: Nascent entrepreneurs | 2.43 | 2.30 | 1.87 | 2.90 |
Std. error: Nascent entrepreneurs | 0.10 | 0.12 | 0.13 | 0.11 |
Average: New and established owner-managers | 3.80 | 2.69 | 1.48 | 3.40 |
Std. error: New and established owner-managers | 0.14 | 0.16 | 0.11 | 0.12 |
Average: Total | 2.96 | 2.45 | 1.68 | 3.10 |
Std. error: Total | 0.09 | 0.09 | 0.09 | 0.08 |
ANOVA test, p-value | 0.000 | 0.058 | 0.032 | 0.004 |
In my country, you will often see companies whose primary purpose is to solve social problems. | ||||
Average: Nascent entrepreneurs | 6.31 | NA | 8.05 | 8.20 |
Std. error: Nascent entrepreneurs | 0.13 | NA | 0.13 | 0.09 |
Average: New and established owner-managers | 5.62 | NA | 8.57 | 8.11 |
Std. error: New and established owner-managers | 0.17 | NA | 0.12 | 0.13 |
Average: Total | 6.04 | NA | 8.30 | 8.16 |
Std. error: Total | 0.10 | NA | 0.09 | 0,07 |
ANOVA test, p-value | 0.001 | NA | 0.006 | 0.551 |
Total Averages | ||||
Na: Networking: Average score for nascent entrepreneurs | 5.06 | 6.21 | 6.24 | 6.44 |
Na: Networking: Std. error for nascent entrepreneurs | 0.06 | 0.08 | 0.07 | 0.07 |
Nb: Networking: Average score for new and established owner-managers | 5.26 | 6.05 | 6.50 | 6.66 |
Nb: Networking: Std. error for new and established owner-managers | 0.07 | 0.10 | 0.06 | 0.10 |
N: Networking: Total average score | 5.13 | 6.15 | 6.37 | 6.53 |
N: Networking: Total Std. error | 0.04 | 0.06 | 0.05 | 0.06 |
ANOVA test, p-value | 0.045 | 0.241 | 0.014 | 0.079 |
Items for Pillar 2: Leadership (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
How often do you get mentoring for your new business from established entrepreneurs in your area? | ||||
Average: Nascent entrepreneurs | 6.09 | 6.78 | 5.85 | 6.63 |
Std. error: Nascent entrepreneurs | 0.13 | 0.13 | 0.15 | 0.13 |
Average: New and established owner-managers | 5.88 | 5.70 | 5.90 | 7.03 |
Std. error: New and established owner-managers | 0.15 | 0.18 | 0.15 | 0.16 |
Average: Total | 6.01 | 6.38 | 5.88 | 6.79 |
Std. error: Total | 0.10 | 0.11 | 0.10 | 0.10 |
ANOVA test, p-value | 0.315 | 0.000 | 0.807 | 0.063 |
How often do you mentor new business owners? | ||||
Average: Nascent entrepreneurs | 5.97 | 6.65 | 5.71 | 6.77 |
Std. error: Nascent entrepreneurs | 0.15 | 0.14 | 0.16 | 0.13 |
Average: New and established owner-managers | 7.20 | 6.26 | 5.95 | 6.96 |
Std. error: New and established owner-managers | 0.18 | 0.17 | 0.16 | 0.17 |
Average: Total | 6.44 | 6.51 | 5.83 | 6.85 |
Std. error: Total | 0.12 | 0.11 | 0.11 | 0.10 |
ANOVA test, p-value | 0.000 | 0.105 | 0.311 | 0.393 |
Your decision to start your own business was strongly inspired by a startup or business from your region. | ||||
Average: Nascent entrepreneurs | 7.00 | 7.34 | 7.60 | 7.25 |
Std. error: Nascent entrepreneurs | 0.13 | 0.16 | 0.15 | 0.14 |
Average: New and established owner-managers | 7.01 | 6.13 | 8.19 | 7.28 |
Std. error: New and established owner-managers | 0.16 | 0.22 | 0.14 | 0.17 |
Average: Total | 7.00 | 6.89 | 7.89 | 7.26 |
Std. error: Total | 0.10 | 0.13 | 0.10 | 0.11 |
ANOVA test, p-value | 0.935 | 0.000 | 0.006 | 0.869 |
Total averages | ||||
Sa: Leadership: Average score for nascent entrepreneurs | 6.35 | 6.95 | 6.39 | 6.88 |
Sa: Leadership: Std. error for nascent entrepreneurs | 0.08 | 0.12 | 0.11 | 0.11 |
Sb: Leadership: Average score for new and established owner-managers | 6.70 | 6.03 | 6.69 | 7.08 |
Sb: Leadership: Std. error for new and established owner-managers | 0.11 | 0.16 | 0.10 | 0.12 |
S: Leadership: Total average score | 6.48 | 6.61 | 6.54 | 6.97 |
S: Leadership: Total Std. error score | 0.07 | 0.10 | 0.07 | 0.08 |
ANOVA test, p-value | 0.017 | 0.000 | 0.046 | 0.248 |
Items for Pillar 3: Finance (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
You feel there are adequate sources of external capital seed in Riyadh. | ||||
Average: Nascent entrepreneurs | 5.77 | 7.73 | 7.16 | 6.90 |
Std. error: Nascent entrepreneurs | 0.27 | 0.13 | 0.14 | 0.13 |
Average: New and established owner-managers | 4.83 | 6.76 | 7.49 | 7.31 |
Std. error: New and established owner-managers | 0.19 | 0.18 | 0.14 | 0.14 |
Average: Total | 5.31 | 7.37 | 7.32 | 7.07 |
Std. error: Total | 0.16 | 0.11 | 0.10 | 0.10 |
ANOVA test, p-value | 0.005 | 0.000 | 0.102 | 0.047 |
Informal investment in Riyadh | ||||
Average: Nascent entrepreneurs | 2.57 | 1.82 | 2.10 | 2.24 |
Std. error: Nascent entrepreneurs | 0.26 | 0.23 | 0.28 | 0.25 |
Average: New and established owner-managers | 1.83 | 2.03 | 0.72 | 0.98 |
Std. error: New and established owner-managers | 0.29 | 0.31 | 0.18 | 0.21 |
ANOVA test, p-value for the comparison between nascent and owner-managers | 0.074 | 0.584 | 0.000 | 0.000 |
Average: Total Riyadh adult population | 1,63 | 1.3 | 1.1 | 1.3 |
Std. error: Total | 0.08 | 0.08 | 0.08 | 0.08 |
Average: Total Riyadh adult population involved in any type of business | 2.69 | 1.8 | 1.6 | 2.0 |
Std. error: Involved in businesses | 0.26 | 0.21 | 0.21 | 0.21 |
Average: Total Riyadh adult population not involved in business | 1.42 | 1.2 | 1.0 | 1.1 |
Std. error: Not involved in businesses | 0.09 | 0.09 | 0.08 | 0.08 |
ANOVA test, p-value for the comparison between the adults involved and not involved in businesses | 0.000 | 0.002 | 0.004 | 0.000 |
Total averages | ||||
Fa: Financing: Average score for nascent entrepreneurs | 3.49 | 4.75 | 4.64 | 4.56 |
Fa: Financing: Std. error for nascent entrepreneurs | 0.21 | 0.13 | 0.16 | 0.14 |
Fb: Financing: Average score for new and established owner-managers | 3.32 | 4.41 | 4.15 | 4.14 |
Fb: Financing: Std. error for new and established owner-managers | 0.18 | 0.18 | 0.11 | 0.13 |
F: Financing: Total average score | 3.42 | 4.62 | 4.40 | 4.39 |
F: Financing: Total Std. error | 0.15 | 0.10 | 0.10 | 0.09 |
ANOVA test, p-value for the comparison between nascent and owner-managers | 0.576 | 0.133 | 0.015 | 0.042 |
Items for Pillar 4: Talent (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
In Riyadh, there is no shortage of certain types of employees needed for one’s business. | ||||
Average: Nascent entrepreneurs | 6.62 | 4.82 | 4.99 | 5.43 |
Std. error: Nascent entrepreneurs | 0.16 | 0.14 | 0.16 | 0.14 |
Average: New and established owner-managers | 4.28 | 5.73 | 4.44 | 4.95 |
Std. error: New and established owner-managers | 0.20 | 0.19 | 0.14 | 0.17 |
Average: Total | 5.70 | 5.15 | 4.72 | 5.23 |
Std. error: Total | 0.13 | 0.11 | 0.10 | 0.11 |
ANOVA test, p-value | 0.000 | 0.000 | 0.015 | 0.031 |
You can afford to hire the employees you need for your business locally. | ||||
Average: Nascent entrepreneurs | 5.26 | 7.65 | 7.21 | 7.23 |
Std. error: Nascent entrepreneurs | 0.16 | 0.13 | 0.14 | 0.13 |
Average: New and established owner-managers | 4.25 | 7.44 | 7.64 | 7.35 |
Std. error: New and established owner-managers | 0.16 | 0.18 | 0.14 | 0.15 |
Average: Total | 4.78 | 7.57 | 7.42 | 7.28 |
Std. error: Total | 0.12 | 0.11 | 0.10 | 0.09 |
ANOVA test, p-value | 0.000 | 0.358 | 0.034 | 0.576 |
You are satisfied that the skills of the Riyadh workforce are sufficient to meet your business needs. | ||||
Average: Nascent entrepreneurs | 5.01 | 8.21 | 7.45 | 7.25 |
Std. error: Nascent entrepreneurs | 0.16 | 0.11 | 0.14 | 0.13 |
Average: New and established owner-managers | 4.22 | 8.13 | 7.67 | 7.46 |
Std. error: New and established owner-managers | 0.14 | 0.13 | 0.14 | 0.14 |
Average: Total | 4.67 | 8.18 | 7.56 | 7.34 |
Std. error: Total | 0.11 | 0.08 | 0.10 | 0.09 |
ANOVA test, p-value | 0.001 | 0.655 | 0.271 | 0.307 |
You have the knowledge, skills, and the minimum experience required to start a new business | ||||
Average: Nascent entrepreneurs | 7.86 | 8.63 | 8.86 | 8.42 |
Std. error: Nascent entrepreneurs | 0.10 | 0.09 | 0.10 | 0.09 |
Average: New and established owner-managers | 7.82 | 8.85 | 8.54 | 8.18 |
Std. error: New and established owner-managers | 0.14 | 0.10 | 0.10 | 0.12 |
Average: Total | 7.85 | 8.71 | 8.70 | 8.32 |
Std. error: Total | 0.08 | 0.07 | 0.07 | 0.07 |
ANOVA test, p-value | 0.788 | 0.155 | 0.029 | 0.138 |
Total averages | ||||
Ta: Talent: Average score for nascent entrepreneurs | 6.32 | 7.33 | 7.13 | 7.09 |
Ta: Talent: Std. error for nascent entrepreneurs | 0.08 | 0.06 | 0.06 | 0.06 |
Tb: Talent: Average score for new and established owner-managers | 5.14 | 7.54 | 7.08 | 6.99 |
Tb: Talent: Std. error for new and established owner-managers | 0.09 | 0.07 | 0.05 | 0.07 |
T: Talent: Total average score | 5.87 | 7.40 | 7.10 | 7.05 |
T: Talent: Total Std. error | 0.07 | 0.04 | 0.04 | 0.04 |
ANOVA test, p-value | 0.000 | 0.037 | 0.553 | 0.285 |
Items for Pillar 5: Knowledge (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
Your business is built based on the result of something you learned from a person or organization in your region. | ||||
Average: Nascent entrepreneurs | 6.77 | 7.54 | 7.56 | 6.97 |
Std. error: Nascent entrepreneurs | 0.12 | 0.14 | 0.14 | 0.13 |
Average: New and established owner-managers | 6.58 | 6.58 | 7.43 | 7.04 |
Std. error: New and established owner-managers | 0.16 | 0.21 | 0.12 | 0.16 |
Average: Total | 6.70 | 7.19 | 7.50 | 7.00 |
Std. error: Total | 0.09 | 0.12 | 0.09 | 0.10 |
ANOVA test, p-value | 0.332 | 0.000 | 0.519 | 0.737 |
Total averages | ||||
Ka: Knowledge: Average score for nascent entrepreneurs | 6.77 | 7.54 | 7.56 | 6.97 |
Ka: Knowledge: Std. error for nascent entrepreneurs | 0.12 | 0.14 | 0.14 | 0.13 |
Kb: Knowledge: Average score for new and established owner-managers | 6.58 | 6.58 | 7.43 | 7.04 |
Kb: Knowledge: Std. error for new and established owner-managers | 0.16 | 0.21 | 0.12 | 0.16 |
K: Knowledge: Total average score | 6.70 | 7.19 | 7.50 | 7.00 |
K: Knowledge: Total Std. error | 0.09 | 0.12 | 0.09 | 0.10 |
ANOVA test, p-value | 0.332 | 0.000 | 0.519 | 0.737 |
Items for Pillar 6: Services and Intermediaries (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
In your region, your new business is strongly supported by a program focused on startups (e.g., an accelerator or incubator program). | ||||
Average: Nascent entrepreneurs | 5.66 | 7.03 | 7.63 | 6.95 |
Std. error: Nascent entrepreneurs | 0.11 | 0.16 | 0.14 | 0.14 |
Average: New and established owner-managers | 6.43 | 5.92 | 7.76 | 6.99 |
Std. error: New and established owner-managers | 0.16 | 0.21 | 0.15 | 0.17 |
Average: Total | 5.95 | 6.62 | 7.70 | 6.97 |
Std. error: Total | 0.09 | 0.13 | 0.10 | 0.11 |
ANOVA test, p-value | 0.000 | 0.000 | 0.550 | 0.853 |
In general, there are enough workshops and other training opportunities available in Riyadh to help you learn the business skills you need for your business. | ||||
Average: Nascent entrepreneurs | 5,95 | 7.84 | 7.43 | 7.19 |
Std. error: Nascent entrepreneurs | 0.13 | 0.12 | 0.13 | 0.12 |
Average: New and established owner-managers | 6.13 | 7.42 | 7.65 | 7.20 |
Std. error: New and established owner-managers | 0.15 | 0.16 | 0.14 | 0.16 |
Average: Total | 6.02 | 7.69 | 7.54 | 7.19 |
Std. error: Total | 0.10 | 0.09 | 0.09 | 0.10 |
ANOVA test, p-value | 0.416 | 0.036 | 0.269 | 0.952 |
Total averages | ||||
Sa: Services: Average score for nascent entrepreneurs | 6.09 | 7.44 | 7.53 | 7.07 |
Sa: Services: Std. error for nascent entrepreneurs | 0.08 | 0.11 | 0.11 | 0.11 |
Sb: Services: Average score for new and established owner-managers | 6.27 | 6.67 | 7.70 | 7.11 |
Sb: Services: Std. error for new and established owner-managers | 0.11 | 0.15 | 0.12 | 0.12 |
S: Services: Total average score | 6.16 | 7.16 | 7.61 | 7.09 |
S: Services: Total Std. error | 0.07 | 0.09 | 0.08 | 0.08 |
ANOVA test, p-value | 0.204 | 0.000 | 0.338 | 0.806 |
Items for Pillar 7: Formal Institutions (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
When starting your business, it is not a serious problem to face bureaucracy and regulations. | ||||
Average: Nascent entrepreneurs | 7.13 | 4.65 | 5.05 | 6.72 |
Std. error: Nascent entrepreneurs | 0.15 | 0.13 | 0.15 | 0.13 |
Average: New and established owner-managers | 4,40 | 5.39 | 4.34 | 6.96 |
Std. error: New and established owner-managers | 0.17 | 0.18 | 0.15 | 0.16 |
Average: Total | 6.09 | 4.91 | 4.70 | 6.82 |
Std. error: Total | 0.13 | 0.10 | 0.10 | 0.10 |
ANOVA test, p-value | 0.000 | 0.001 | 0.001 | 0.236 |
In Riyadh, it is easy to start a business, agree/disagree. | ||||
Average: Nascent entrepreneurs | 6.50 | 8.91 | 8.54 | 8.04 |
Std. error: Nascent entrepreneurs | 0.13 | 0.09 | 0.11 | 0.10 |
Average: New and established owner-managers | 5.42 | 8.38 | 8.89 | 7.98 |
Std. error: New and established owner-managers | 0.16 | 0.15 | 0.12 | 0.13 |
Average: Total | 6.09 | 8.71 | 8.71 | 8.01 |
Std. error: Total | 0.10 | 0.08 | 0.08 | 0.08 |
ANOVA test, p-value | 0.000 | 0.002 | 0.036 | 0.707 |
Total averages | ||||
Ga: Formal Institutions: Average score for nascent entrepreneurs | 6.84 | 6.80 | 6.81 | 7.38 |
Ga: Formal Institutions: Std. error for nascent entrepreneurs | 0.10 | 0.07 | 0.09 | 0.08 |
Gb: Formal institutions: Average score for new and established owner-managers | 4.88 | 6.93 | 6.57 | 7.48 |
Gb: Formal institutions: Std. error for new and established owner-managers | 0.12 | 0.11 | 0.10 | 0.12 |
G: Formal institutions: Total average score | 6.09 | 6.85 | 6.69 | 7.42 |
G: Formal institutions: Std. error score | 0.09 | 0.06 | 0.07 | 0.07 |
ANOVA test, p-value | 0.000 | 0.312 | 0.102 | 0.498 |
Items for Pillar 8: Culture (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
Most people in Riyadh support individuals interested in becoming entrepreneurs. | ||||
Average: Nascent entrepreneurs | 6.33 | 7.96 | 7.28 | 6.80 |
Std. error: Nascent entrepreneurs | 0.14 | 0.11 | 0.14 | 0.13 |
Average: New and established owner-managers | 5.13 | 8.29 | 7.48 | 6.93 |
Std. error: New and established owner-managers | 0.17 | 0.14 | 0.13 | 0.16 |
Average: Total | 5.87 | 8.08 | 7.37 | 6.85 |
Std. error: Total | 0.11 | 0.09 | 0.09 | 0.10 |
ANOVA test, p-value | 0.000 | 0.074 | 0.316 | 0.534 |
Fear of failure is not an obstacle to starting a new business. | ||||
Average: Nascent entrepreneurs | 6.33 | 6.72 | 7.68 | 6.49 |
Std. error: Nascent entrepreneurs | 0.14 | 0.16 | 0.19 | 0.17 |
Average: New and established owner-managers | 5.13 | 6.32 | 6.93 | 5.72 |
Std. error: New and established owner-managers | 0.17 | 0.22 | 0.21 | 0.21 |
Average: Total | 5.87 | 6.57 | 7.31 | 6.17 |
Std. error: Total | 0.11 | 0.13 | 0.14 | 0,13 |
ANOVA test, p-value | 0.000 | 0.153 | 0.009 | 0.006 |
In Riyadh, most people consider starting a new business a desirable career choice. | ||||
Average: Nascent entrepreneurs | 7.16 | 9.02 | 7.68 | 8.67 |
Std. error: Nascent entrepreneurs | 0.12 | 0.08 | 0.19 | 0.08 |
Average: New and established owner-managers | 6.61 | 8.88 | 6.93 | 8.53 |
Std. error: New and established owner-managers | 0.18 | 0.12 | 0.21 | 0.11 |
Average: Total | 6.95 | 8.97 | 7.31 | 8.61 |
Std. error: Total | 0.10 | 0.07 | 0.14 | 0.06 |
ANOVA test, p-value | 0.012 | 0.348 | 0.009 | 0.299 |
In Riyadh, those successful at starting a new business have a high level of status and respect. | ||||
Average: Nascent entrepreneurs | 7.84 | 9.07 | 8.83 | 8.69 |
Std. error: Nascent entrepreneurs | 0.13 | 0.07 | 0.09 | 0.09 |
Average: New and established owner-managers | 7.27 | 9.25 | 9.01 | 8.53 |
Std. error: New and established owner-managers | 0.15 | 0.09 | 0.10 | 0.12 |
Average: Total | 7.62 | 9.14 | 8.86 | 8.63 |
Std. error: Total | 0.10 | 0.05 | 0.07 | 0.07 |
ANOVA test, p-value | 0.006 | 0.143 | 0.066 | 0.272 |
Total averages | ||||
Ca: Culture: Average score for nascent entrepreneurs | 7.09 | 8.19 | 8.12 | 7.66 |
Ca: Culture: Std. error for nascent entrepreneurs | 0.07 | 0.06 | 0.07 | 0.05 |
Cb: Culture: Average score for new and established owner-managers | 6.30 | 8.17 | 7.95 | 7.42 |
Cb: Culture: Std. error for new and established owner-managers | 0.10 | 0.08 | 0.08 | 0.08 |
C: Culture: Total average score | 6.79 | 8.18 | 8.04 | 7.57 |
C: Culture: Total Std. error | 0.06 | 0.05 | 0.05 | 0.04 |
ANOVA test, p-value | 0.000 | 0.890 | 0.116 | 0.012 |
Items for Pillar 9: Physical Infrastructure (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
How satisfied are you with Riyadh’s transportation infrastructure (e.g., parking, roads, and traffic flow) in relation to your business needs? | ||||
Average: Nascent entrepreneurs | 6.19 | 8.30 | 8.24 | 8.00 |
Std. error: Nascent entrepreneurs | 0.12 | 0.11 | 0.11 | 0.11 |
Average: New and established owner-managers | 7.23 | 8.29 | 8.24 | 7.42 |
Std. error: New and established owner-managers | 0.18 | 0.13 | 0.13 | 0.16 |
Average: Total | 6.59 | 8.30 | 8.24 | 7.76 |
Std. error: Total | 0.10 | 0.08 | 0.08 | 0.09 |
ANOVA test, p-value | 0.000 | 0.952 | 0.998 | 0.003 |
How satisfied are you with Riyadh’s telecommunications and Internet access and speed for your business needs? | ||||
Average: Nascent entrepreneurs | 5.46 | 8.67 | 7.88 | 8.22 |
Std. error: Nascent entrepreneurs | 0.14 | 0.10 | 0.13 | 0.10 |
Average: New and established owner-managers | 6.80 | 8.52 | 7.66 | 7.62 |
Std. error: New and established owner-managers | 0.14 | 0.12 | 0.14 | 0.14 |
Average: Total | 5.98 | 8.61 | 7.77 | 7.98 |
Std. error: Total | 0.10 | 0.07 | 0.09 | 0.08 |
ANOVA test, p-value | 0.000 | 0.387 | 0.264 | 0.001 |
How satisfied are you with the availability and price of additional physical space in Riyadh to grow your business relative to your business needs? | ||||
Average: Nascent entrepreneurs | 4.62 | 8.35 | 7.95 | 7.86 |
Std. error: Nascent entrepreneurs | 0.13 | 0.11 | 0.12 | 0.11 |
Average: New and established owner-managers | 5.94 | 8.04 | 7.81 | 7.41 |
Std. error: New and established owner-managers | 0.17 | 0.15 | 0.14 | 0.16 |
Average: Total | 5.12 | 8.24 | 7.88 | 7.68 |
Std. error: Total | 0.11 | 0.09 | 0.09 | 0.09 |
ANOVA test, p-value | 0.000 | 0.118 | 0.485 | 0.023 |
Total averages | ||||
Pa: Physical infrastructure: Average score for nascent entrepreneurs | 5.46 | 8.44 | 8.02 | 8.03 |
Pa: Physical infrastructure: Std. error for nascent entrepreneurs | 0.10 | 0.08 | 0.09 | 0.08 |
Pb: Physical infrastructure: Average score for new and established owner-managers | 6.70 | 8.29 | 7.90 | 7.49 |
Pb: Physical infrastructure: Std. error for new and established owner-managers | 0.13 | 0.10 | 0.11 | 0.13 |
P: Physical infrastructure: Total average score | 5.93 | 8.39 | 7.96 | 7.81 |
P: Physical infrastructure: Total Std. error | 0.08 | 0.06 | 0.07 | 0.07 |
ANOVA test, p-value | 0.000 | 0.266 | 0.429 | 0.000 |
Items for Pillar 10: Demand (All Scores Re-Scaled to a 0 (Lowest)—10 (Highest) Point Scale) | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
In the next six months, there will be good opportunities for starting a business in the area where you live. | ||||
Average: Nascent entrepreneurs | 7.85 | 8.82 | 9.05 | 8.25 |
Std. error: Nascent entrepreneurs | 0.14 | 0.08 | 0.08 | 0.10 |
Average: New and established owner-managers | 6.39 | 8.02 | 8.90 | 8.05 |
Std. error: New and established owner-managers | 0.21 | 0.15 | 0.12 | 0.14 |
Average: Total | 7.29 | 8.53 | 8.98 | 8.17 |
Std. error: Total | 0.12 | 0.08 | 0.07 | 0.08 |
ANOVA test, p-value | 0.000 | 0.000 | 0.306 | 0.261 |
Total averages | ||||
Da: Demand: Average score for nascent entrepreneurs | 7.85 | 8.82 | 9.05 | 8.25 |
Da: Demand: Std. error for nascent entrepreneurs | 0.14 | 0.08 | 0.08 | 0.10 |
Db: Demand: Average score for new and established owner-managers | 6.39 | 8.02 | 8.90 | 8.05 |
Db: Demand: Std. error for new and established owner-managers | 0.21 | 0.15 | 0.12 | 0.14 |
D: Demand: Total average score | 7.29 | 8.53 | 8.98 | 8.17 |
D: Demand: Total Std. error | 0.12 | 0.08 | 0.07 | 0.08 |
ANOVA test, p-value | 0.000 | 0.000 | 0.306 | 0.261 |
2019 | 2020 | 2021 | 2022 | ||||
---|---|---|---|---|---|---|---|
Demand | 7.29 | Demand | 8.53 | Demand | 8.98 | Demand | 8.17 |
Culture | 6.79 | Physical infrastructure | 8.39 | Culture | 8.04 | Physical infrastructure | 7.81 |
Knowledge | 6.70 | Culture | 8.18 | Physical infrastructure | 7.96 | Culture | 7.57 |
Leadership | 6.48 | Talent | 7.40 | Services | 7.61 | Formal institutions | 7.42 |
Services | 6.16 | Knowledge | 7.19 | Knowledge | 7.50 | Services | 7.09 |
Formal institutions | 6.09 | Services | 7.16 | Talent | 7.10 | Talent | 7.05 |
Physical infrastructure | 5.93 | Formal institutions | 6.85 | Formal institutions | 6.69 | Knowledge | 7.00 |
Talent | 5.87 | Leadership | 6.61 | Leadership | 6.54 | Leadership | 6.97 |
Networking | 5.13 | Networking | 6.15 | Networking | 6.37 | Networking | 6.53 |
Financing | 3.42 | Financing | 4.62 | Financing | 4.40 | Financing | 4.39 |
Pillar | % Change 2022/2019 |
---|---|
Physical I. (framework) | 31.70 |
Finance (systemic) | 28.36 |
Networking (systemic) | 27.29 |
Formal I. (framework) | 21.84 |
Talent (systemic) | 20.10 |
Services (systemic) | 15.10 |
Demand (framework) | 12.07 |
Culture (framework) | 11.49 |
Leadership (systemic) | 7.56 |
Knowledge (systemic) | 4.48 |
Hypothesis: On average, nascent entrepreneurs and new and established owner-managers, show opinions/actuations that can be considered statistically equal or at the same level | ||||
---|---|---|---|---|
To interpret the conclusions, NE = nascent entrepreneurs and OM = new and established owner-managers | Conclusions | |||
2019 | 2020 | 2021 | 2022 | |
Attend local business networking events with a similar frequency | NE > OM | NE > OM | NE = OM | NE = OM |
Consider that, in Riyadh, it is easy to get in touch with other owner-managers of young business personally. | OM > NE | NE = OM | OM > NE | NE = OM |
Consider that if you need any advice or help regarding your business, you can easily find the right people through your network. | NE > OM | NE = OM | OM > NE | NE = OM |
Most business owner-managers in the same industry and region as you actively participate in at least one local business network. | OM > NE | NE = OM | NE = OM | NE = OM |
You know someone personally who started a business in the past 2 years | OM > NE | NE = OM | NE > OM | OM > NE |
Consider that, in Riyadh, you will often see businesses that primarily aim to solve social problems. | NE > OM | Not measured | OM > NE | NE = OM |
Networking average perception | OM > NE | NE = OM | OM > NE | NE = OM |
Get advice on your new business through mentoring from established entrepreneurs in Riyadh. | NE = OM | NE > OM | NE = OM | NE = OM |
Provide mentoring advice to new business owners and managers | OM > NE | NE = OM | NE = OM | NE = OM |
A startup or business in your area was a strong influence on your decision to start your own business. | NE = OM | NE > OM | OM > NE | NE = OM |
Leadership average perception | OM > NE | NE > OM | OM > NE | NE = OM |
In your opinion, there are sufficient sources of external seed capital in Riyadh. | NE > OM | NE > OM | NE = OM | OM > NE |
Acting as an informal investor | NE = OM | NE = OM | NE > OM | NE > OM |
Finance average perception | NE = OM | NE = OM | NE > OM | NE > OM |
In Riyadh, there is no shortage of certain types of employees needed to run a business. | NE > OM | OM > NE | NE > OM | NE > OM |
You can afford to hire the people you need to run your business locally. | NE > OM | NE = OM | OM > NE | NE = OM |
You are satisfied that the skills of the Riyadh workforce are sufficient for your business needs. | NE > OM | NE = OM | NE = OM | NE = OM |
You have the knowledge, skills, and experience to start a new business. | NE = OM | NE = OM | NE > OM | NE = OM |
Talent average perception | NE > OM | OM > NE | NE = OM | NE = OM |
Your business is built on what you have learned from a person or organization in your area. | NE = OM | NE > OM | NE = OM | NE = OM |
Knowledge average perception | NE = OM | NE > OM | NE = OM | NE = OM |
Your new business is strongly supported by a regional program designed to help start businesses (e.g., an accelerator or incubator program). | OM > NE | NE > OM | NE = OM | NE = OM |
In general, there are enough workshops and other training opportunities accessible in Riyadh to learn the business skills you need for your business. | NE = OM | NE > OM | NE = OM | NE = OM |
Services and intermediaries average perception | NE = OM | NE > OM | NE = OM | NE = OM |
The bureaucracy and regulations you encounter when starting your business are not serious problems. | NE > OM | OM > NE | NE > OM | NE = OM |
In Riyadh, it is easy to start a business, agree/disagree. | NE > OM | NE > OM | NE = OM | NE = OM |
Formal institutions average perception | NE > OM | NE = OM | NE = OM | NE = OM |
Most people in Riyadh are supportive of individuals who are interested in becoming entrepreneurs. | NE > OM | NE = OM | NE = OM | NE = OM |
Fear of failure is not a barrier to starting a new business. | NE > OM | NE = OM | NE > OM | NE > OM |
In Riyadh, most people consider starting a new business a desirable career choice. | NE > OM | NE = OM | NE > OM | NE = OM |
In Riyadh, those who are successful in starting a new business have a high level of status and respect. | NE > OM | NE = OM | NE = OM | NE = OM |
Culture average perception | NE > OM | NE = OM | NE = OM | NE > OM |
Satisfaction with transportation infrastructure (e.g., roads, parking, traffic flow) | OM > NE | NE = OM | NE = OM | NE > OM |
Satisfaction with telecommunications; Internet access and speed | OM > NE | NE = OM | NE = OM | NE > OM |
Satisfaction with the price and availability of additional physical space to grow your business | OM > NE | NE = OM | NE = OM | NE > OM |
Physical infrastructure average perception | NE = OM | NE = OM | NE = OM | NE > OM |
In the next six months, there will be good opportunities to start a business in the area where you live. | NE > OM | NE > OM | NE = OM | NE = OM |
Demand average perception | NE > OM | NE > OM | NE = OM | NE = OM |
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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
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Roomi, M.A.; Coduras, A.; Saiz-Alvarez, J.M. Riyadh: Evolving to Become as One of the MENA Region’s Key Entrepreneurial Ecosystems. Sustainability 2023, 15, 15109. https://doi.org/10.3390/su152015109
Roomi MA, Coduras A, Saiz-Alvarez JM. Riyadh: Evolving to Become as One of the MENA Region’s Key Entrepreneurial Ecosystems. Sustainability. 2023; 15(20):15109. https://doi.org/10.3390/su152015109
Chicago/Turabian StyleRoomi, Muhammad Azam, Alicia Coduras, and José Manuel Saiz-Alvarez. 2023. "Riyadh: Evolving to Become as One of the MENA Region’s Key Entrepreneurial Ecosystems" Sustainability 15, no. 20: 15109. https://doi.org/10.3390/su152015109