IMPACT OF ENTREPRENEURSHIP PROCESS ON THE ECONOMY IN SAUDI ARABIA

Abstract

Entrepreneurship can be generally described as the capacity of an individual person or a group of persons in creating opportunities and utilize them for the growth of the society and in return bring success to their organizations as well as their innovations. The characteristics such as flexibility and adaptability of entrepreneurship provide an opportunity for the nation to compete internationally along with the stable economic position. The Small and Medium enterprises act as a cornerstone in achieving more balanced growth considering the bottom line of the income pyramid. However, in spite of supportive governance, the performance and contribution of SMEs to economic growth process of KSA is lagging somewhere. The main objective of this study is to understand and evaluate the role of entrepreneurship process on the economy of Kingdom of Saudi Arabia. This study is conducted for analytical framework and the significance to the economy. The online questionnaire survey is used as research tool to gather the primary data. The customers and the managers of the small and medium size organizations of Saudi Arabia are considered as the research population. The finding of this study provides an overview of the business environment and its relation entrepreneurship process of Kingdom of Saudi Arabia.