Startups in Saudi Arabia: Challenges and Opportunities

Majed Qabil Alsolamy
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Majed Qabil Alsolamy: Dean, Faculty of Business Administration, University of Tabuk, Tabuk, Saudi Arabia

International Journal of Research in Business and Social Science (2147-4478), 2023, vol. 12, issue 2, 118-126

Abstract: The main objective of this paper is to investigate the main challenges that startups face in Saudi Arabia. It tries to identify the wave of opportunities that come along with startups and analyze the main factors for success and sustainability. A sample of 40 respondents was established. According to the survey results, consumer-oriented activity dominates startup activities. Startups remain mainly dependent on non-equity funding. The first challenge that startups encounter is finding funding. Saudi startups are more focused on product innovation. Most of the respondents think that aspects of the entrepreneur's personality and skills play a significant role in the success of startups. Key Words:Entrepreneurship, Startups, Saudi Arabia, Challenges, Opportunities

Date: 2023
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