@Khalifa_Fund “ENTREPRENEURSHIP: AN EMIRATI PERSPECTIVE” book launched

Khalifa Fund and Zayed University launched a book titled “Entrepreneurship: An Emirati Perspective”, the UAE’s first book to provide a comprehensive outlook on the role played by Emiratis involved in entrepreneurial activities across the UAE.

In the foreword of the book The Chairman of Khalifa Fund, H.E. Hussain J Al Nowais says: “This book aims to monitor the distinctive components of entrepreneurial activity amongst Emirati nationals, highlighting the policy, institutional, and structural obstacles that they may face.”  He also says that “The publication of this book also may be seen as a vehicle whereby the government, business and individual stakeholders can assess the challenge and issues distinctive to Emirati nationals in relation to entrepreneurial activity.”

The Provost of Zayed University, H.E. Professor Abdalla AlAmiri points out that, “This book is uniquely positioned to advance our understanding of the Emirati entrepreneur, the key challenges they may face, and presents recommendations to accelerate increased entrepreneurial activity as an impetus towards achieving robust global competitiveness in the years ahead.” He adds that, “Zayed University values the great efforts made by both institutions in producing this important publication.”

The book examines key aspects of entrepreneurship among Emiratis measuring their attitudes, activities and aspirations, and making comparisons which contributes to the emerging knowledge about Emirati Entrepreneurs.  The findings can provide policy makers with a foundation for reviewing current and prospective policies in order to enhance and highlight the vital role of Emirati Entrepreneurs in the economy.  Among the book’s key findings, measurements of Total entrepreneurial activity (TEA) amongst Emiratis indicate that less than one in ten Emiratis are involved in entrepreneurial activity and 82.5% of Emirati Entrepreneurs are employed in addition to their entrepreneurial activity. Emiratis have positive attitudes towards entrepreneurship with nearly 80% that perceive entrepreneurship as a good career choice and 60% see good opportunities to start a new venture in the short term, but only 50% believe that they have the necessary skills and knowledge necessary to start their own business. One in three Emiratis surveyed indicated that fear of failure would prevent them from starting a business.

The key findings of this book also suggest that the Emirati Entrepreneur is driven by opportunity which suggests a need to instill opportunity-based motives and entrepreneurial incentives to capture this entrepreneurial drive.  Furthermore, Entrepreneurship can benefit from the participation of all groups in society, including women, youth and elders, having different educational levels and from all of the Emirates and the regions of the UAE. Another key point is that high-growth entrepreneurship is a key contributor to new employment in this innovation-driven economy.

To increase both entrepreneurial and intrapreneurial activity among the Emirati population will mean addressing many challenges that these potential and current entrepreneurs face. The authors have highlighted recommendations focused on: enhancing the UAE entrepreneurial ecosystem, cultivating the entrepreneurial mindset, supporting the entrepreneurial process, and building capacity of the Emirati entrepreneur. Finally, this book provides an opportunity to gain insight directly from the voice of the Emirati nationals themselves, to understand Emirati entrepreneurs better, their needs, and make relevant recommendations for change.