According to a new survey conducted by the leading job platform in the Middle East, in collaboration with Yojov, a leading market research organization, approximately two-thirds (63%) of professionals in the UAE prefer working for themselves or starting their own business if given the opportunity.
The survey results also revealed that 64% of current employees are considering launching their own ventures, 20% have previously attempted to start a personal business, and 7% have never considered entrepreneurship. The primary motivations behind choosing self-employment include achieving work-life balance (44%), personal fulfillment (41%), positively impacting society (40%), and higher income potential (39%).
Those already running their own businesses reported similar drivers: independence in achieving goals (32%) and the prospect of earning a higher income (32%).
For the 30% of respondents in the UAE who prefer working within companies, the main reasons include stable income (40%), acquiring new skills (39%), and job security (34%).
In response to the findings, Alaa Hadad, Human Resources Director at the platform, said: "Entrepreneurs are an essential part of today’s rapidly evolving labor market, where companies are adopting innovative strategies beyond those used before the crisis. Our annual survey aims to highlight the opportunities and challenges in entrepreneurship, empowering individuals to expand their impact and contribute to economic growth and innovation."
Most Attractive Sectors for Entrepreneurs
Trade/Retail (12%) and Real Estate/Construction/Property Development (12%) emerged as the most appealing sectors for entrepreneurs, followed by Information Technology/Internet/E-commerce (9%) and Consumer Goods/Fast-Moving Consumer Goods (7%).
Entrepreneurship Ecosystem in the UAE
Entrepreneurship continues to grow in the UAE. Despite challenges faced when launching businesses, the survey indicates that entrepreneurship is more popular than ever. Many entrepreneurs are focused on scaling their startups and building sustainable ventures. In fact, over six in ten respondents plan to hire new employees in the coming year.
Additionally, 60% of entrepreneurs across the Middle East and North Africa launched their businesses within the past five years. Among those currently self-employed, 35% are in the initial startup phase, 27% report their businesses are stable but underperforming, while 21% say their businesses are both stable and performing well.
One-third (33%) of respondents expressed personal ambitions to grow their businesses locally, 24% aim to establish global companies, and another 24% aspire to create multinational business groups.
The top challenges faced by entrepreneurs in the UAE before launching their ventures include securing sufficient funding (56%), building the right professional network (40%), and dealing with irregular income (36%).
Guidance and Support
The survey highlights the positive impact of entrepreneurship on communities and the broader economy. In the UAE, entrepreneurs are viewed very favorably—82% of respondents believe they continuously seek new opportunities, and 85% agree they play a key role in creating new jobs.
Key advice offered by respondents from the region includes not fearing failure (44%) and developing a solid business plan (12%). Additionally, over a quarter believe innovation is crucial to entrepreneurial success (30%), followed by hiring the right team (24%) and securing adequate capital (22%).
From the perspective of Zafar Shah, Research Director at Yojov: "Entrepreneurs are the primary source of job creation and innovation, driving economic expansion. The survey clearly demonstrates the strong link between entrepreneurship and innovation in the UAE, offering valuable insights that can inform new strategies and strengthen existing ones."
Data for the regional entrepreneurship survey were collected online between June 22 and July 19, 2022, involving 2,727 participants from the UAE, Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Iraq, Palestine, Syria, Egypt, Morocco, Algeria, Tunisia, Sudan, and other countries.
