In what was termed by the whole world as a remarkable achievement, Qatar topped the global entrepreneurship environment, according to a Global Entrepreneurship Monitor (GEM) report, in which 54 countries worldwide took part.
This clearly reflects the efforts exerted by the Qatari authorities under the wise leadership of Amir H H Sheikh Tamim bin Hamad Al Thani. The sensible role played by various institutions, both indigenous and foreign, also played a pivotal role in this. It attains added significance, when we take a look at the fact that the great nation gained it during a difficult period when the neighbouring nations imposed an unjust siege on it.
The GEM Report is an independent report that identifies the realities of entrepreneurship in 54 countries around the world in line with global best practice and sets the results for government and decision-makers to develop the entrepreneurial environment in each country.
Qatar Development Bank (a GEM member) said that the report showed that the local environment index for business entrepreneurship in Qatar registered about 6.7 points out of 10 points, and Qatar is ranked first among all countries participating in the 2018 report, followed respectively by Indonesia, and the Netherlands by about 6.6 and 6.5 points.
Qatar showed a steady improvement in all sub-indices of entrepreneurship and the results of the report reflected the cohesion of the positive attitudes of the community towards entrepreneurship, as 68.2 percent of the population believe that entrepreneurship is a good professional option, and about 76.7 percent of the population sees high standing for entrepreneurs in the country.
It is an incentive for further efforts in this regard and the nation won the trust of world once again as the best business destination. The global indicators outlined in the report showed that the entrepreneurial environment in Qatar is a golden opportunity to start entrepreneurship and conducive for small and medium-sized enterprises and Qatari entrepreneurs to flourish. After all, this report will help the nation to fulfill its National Vision 2030 and also to add so many other feathers to its crown.
In 2018, about 54.2 percent of the population saw good opportunities for launching projects in the coming months, compared to 45.6 percent in 2017, while 52.3 percent of respondents said they had the entrepreneurial capacity, compared to 41.1 percent in 2017.
The number of “fear of failure” declined to only 32.6 percent in 2018 compared with 41.9 percent in 2017, while the percentage of those with entrepreneurial intentions doubled, with about 29.1 percent of respondents expressing positive intentions for launching a new local project, compared to only 15.7 percent in 2017. With just passing a month in the year 2019, the report adds charm to its vibrant entrepreneurship environment and also fills the nation with the added vigor to move ahead and to embrace more heights in the imminent future.
