UAE serves as a hub for entrepreneurs
LinkedIn members are identifying entrepreneurship as a core job function within the Middle East
Professional networking platform, LinkedIn, has revealed that the United Arab Emirates is a hub for business innovation, as the UAE is gaining the highest percentage of LinkedIn members are identifying entrepreneurship as a core job function within the Middle East.
The study found that those who identify entrepreneurship as their job function increased by a year-on-year growth of 98.3%. This increase was most pronounced in the professional services industry, including tax advice, accounting consultancy, or business consultancy. This was followed by the technology software sector and then retail and consumer product sector.
Furthermore, there has been an increase in the percentage of LinkedIn members in the UAE who have moved to work for smaller companies, this has grown by a year-on-year growth rate of 10%.
Ali Matar, head of LinkedIn talent solutions for Southern Europe, Middle East and North Africa, said: "The UAE has evolved to be a preferred destination for talent, entrepreneurs and innovators from across the world. It boasts of a fully-integrated environment that nurtures ideas generated by youth and aims to boost entrepreneurship through comprehensive support systems.
"The study clearly confirms the country's status as a strong economy and an appealing working environment that is highly capable of competing on a global scale. The UAE's ambitions for supporting entrepreneurship perfectly resonate with our LinkedIn mission to connect the world's professionals to make them more productive and successful."
H.E. Hussain Al Nowais, chairman of Khalifa Fund for Enterprise Development said, "Building an environment in which entrepreneurship can flourish is one of the key priorities within the UAE's wider innovation agenda. Today this includes expanding access to information and modern digital tools, as well as fostering a culture of invention across the public and private sectors. This latest data from LinkedIn is further testament that the UAE is on the right track, and most importantly, that the public is welcoming such support with open arms."
An increasing number of UAE residents are becoming entrepreneurs, which is particularly down to the Internet and new technology platforms. Authorities from both the public and private sector continue to note how digital platforms, especially those on mobile, have helped young people get their ideas off the ground and overcome traditional barriers to entry.