Qatar’s first ever Global Entrepreneurship monitor (GEM) data set has shown that high entrepreneurial intentions do not necessarily translate into long-term business success in the kingdom.
Including Qatar for the first time, the Global Entrepreneurship Monitor (GEM) 2014 Global Report recorded high levels of entrepreneurial intentions in Qatar while the rate of established business ownership proved to be far below any regional average.
The report showed that out of 50.4 percent of adults planning to set up a business, 16.4 percent of adults in the country had been in the process of starting a venture or running a business for fewer than 3.5 years.
These “total early-stage entrepreneurial activity” (TEA) rates are considered the highest amongst developed economies.
However, further analysis is needed to determine why only 3.5 percent of adults in Qatar actually own and manage an established business which has been in operation for more than 3.5 years.
Looking at other regions, African economies showed the highest ability to perceive and pursue entrepreneurial opportunities with little fear of failure, whereas EU nations were less optimistic, saw fewer opportunities and were more uncertain about their skills in acting entrepreneurially.
Due to the collaboration between Silatech, a regional social initiative, and Qatar University’s Social & Economic Survey Research Institute (SESRI), researchers compared the entrepreneurial landscape in Qatar to 73 other economies − collectively representing 72.4 percent of the world’s population and 90 percent of its Gross Domestic Product (GDP).
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