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Press Release – Regional Views: Entrepreneurship– 14. XI. 2012                                      Arabia Monitor
                                                                                                       Economic and Market Research


Entrepreneurship: A game-changer post Arab Spring?
Arabia Monitor publishes new Regional Views report in collaboration with
Angels’ Den, Mowgli and Norman Broadbent
Florence Eid, Ph.D, Chief Economist
Melissa Moubarak, Analyst


London, November 14th - In the MENA region, 12% of the adult population has started a private business, compared to an
average of 18% in emerging Latin American economies and 5% in G7 countries. The opportunities for investing in start-up
enterprises are compelling, and fostering an environment conducive to entrepreneurship will ease the pressure on labor
markets, where the average youth unemployment rate of 27% in the region’s cohort group of 18-35 (more than one third
of the population) is the highest worldwide.

      Over the next 10 years, the net entry into the job market across MENA is expected to reach 57.1M. This would imply the
       need for a 40% expansion in jobs available, just to keep unemployment at current levels. MENA entrepreneurs are typically
       young (30% under 35) and educated (49.5% with at least a secondary school degree), thus associating more closely with
       youth unemployment and underscoring the importance of this conduit in tackling youth unemployment.

      Across MENA 46% engage in private enterprise to be independent and increase their wealth, rather than solely out of
       necessity, compared to 55% in G7 countries and on par with LatAm. This is an encouraging indicator, as entrepreneurs
       driven by opportunity will seek to grow their business, rather than focus on subsistence solely, triggering a virtuous cycle of
       innovation and job creation. In fact, 33% of MENA entrepreneurs expect to employ at least five workers over the next five
       years.

      Access to capital for start-ups in need of micro-financing (almost 40% of entrepreneurs estimate they need less than USD
       10K to start their business) is difficult, despite the liquidity surplus in the region, and this is where angel investors and seed
       funding come in. Currently, on average, only 22% of MENA entrepreneurs are financed by such institutions. Yet the capital
       requirement dynamics provide a compelling argument as 37.2% of investors surveyed expect to recoup between twice and
       five times their original investment over a decade. The risks are also commensurate, as over 45% expect to be paid back
       their initial investment or less over the same period.

      Another area of improvement lies in formal education and mentorship of entrepreneurs. While on average one third of
       entrepreneurs in emerging markets (Ex-BRIC) have received some sort of business training, the level in MENA drops to 17%.
       The lack of an adequate regulatory infrastructure makes MENA one of the most difficult places to start a business
       worldwide, following LatAm & Sub-Saharan Africa.

      With over 65% of entrepreneurial support initiatives coming from the private sector, governments have a long way to go to
       prove their start-up friendliness. Slowly but surely, the MENA region is catching up with more established entrepreneurial
       havens and in our view, the Arab youth’s newfound interconnectedness through social media is a game-changer that will
       help overcome obstacles standing in the way of innovative enterprise.



Arabia Monitor is an independent research firm specialized in economic and market studies on the Middle East & North African
region, which we view as the new emerging market. Our forward looking perspective allows us to place current developments
in the region within a broader context and a long-term view. Our analysis is based on the macroeconomic and financial balance
sheet of the Arab region and delivers unique strategy insights and forecasts to businesses across sectors.

To learn more about our offering and how we could add value to your operations, visit www.arabiamonitor.com


Arabia Monitor
18b Charles Street | London W1J 5DU
Tel +44 203 170 5533 | Fax +44 203 170 5532
info@arabiamonitor.com
Press Release – Regional Views: Entrepreneurship– 14. XI. 2012                                                Arabia Monitor
                                                                                                               Economic and Market Research


This report has been prepared in collaboration with:




Disclaimer

© Arabia Monitor 2012
This is a publication of Arabia Monitor Limited (AM Ltd), and is protected by international copyright laws and is for the subscriber's use only.
This publication may not be distributed or reproduced in any form without written permission.
The information contained herein does not constitute an offer or solicitation to sell any security or fund to or by anyone in any jurisdictions, nor
should it be regarded as a contractual document. Under no circumstances should the information provided on this publication be considered as
investment advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by AM
Ltd from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. AM Ltd is not responsible
for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link.

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Entrepreneurship: A game-changer post Arab Spring? Arabia Monitor publishes new Regional Views report in collaboration with Angels’ Den, Mowgli and Norman Broadbent

  • 1. Press Release – Regional Views: Entrepreneurship– 14. XI. 2012 Arabia Monitor Economic and Market Research Entrepreneurship: A game-changer post Arab Spring? Arabia Monitor publishes new Regional Views report in collaboration with Angels’ Den, Mowgli and Norman Broadbent Florence Eid, Ph.D, Chief Economist Melissa Moubarak, Analyst London, November 14th - In the MENA region, 12% of the adult population has started a private business, compared to an average of 18% in emerging Latin American economies and 5% in G7 countries. The opportunities for investing in start-up enterprises are compelling, and fostering an environment conducive to entrepreneurship will ease the pressure on labor markets, where the average youth unemployment rate of 27% in the region’s cohort group of 18-35 (more than one third of the population) is the highest worldwide.  Over the next 10 years, the net entry into the job market across MENA is expected to reach 57.1M. This would imply the need for a 40% expansion in jobs available, just to keep unemployment at current levels. MENA entrepreneurs are typically young (30% under 35) and educated (49.5% with at least a secondary school degree), thus associating more closely with youth unemployment and underscoring the importance of this conduit in tackling youth unemployment.  Across MENA 46% engage in private enterprise to be independent and increase their wealth, rather than solely out of necessity, compared to 55% in G7 countries and on par with LatAm. This is an encouraging indicator, as entrepreneurs driven by opportunity will seek to grow their business, rather than focus on subsistence solely, triggering a virtuous cycle of innovation and job creation. In fact, 33% of MENA entrepreneurs expect to employ at least five workers over the next five years.  Access to capital for start-ups in need of micro-financing (almost 40% of entrepreneurs estimate they need less than USD 10K to start their business) is difficult, despite the liquidity surplus in the region, and this is where angel investors and seed funding come in. Currently, on average, only 22% of MENA entrepreneurs are financed by such institutions. Yet the capital requirement dynamics provide a compelling argument as 37.2% of investors surveyed expect to recoup between twice and five times their original investment over a decade. The risks are also commensurate, as over 45% expect to be paid back their initial investment or less over the same period.  Another area of improvement lies in formal education and mentorship of entrepreneurs. While on average one third of entrepreneurs in emerging markets (Ex-BRIC) have received some sort of business training, the level in MENA drops to 17%. The lack of an adequate regulatory infrastructure makes MENA one of the most difficult places to start a business worldwide, following LatAm & Sub-Saharan Africa.  With over 65% of entrepreneurial support initiatives coming from the private sector, governments have a long way to go to prove their start-up friendliness. Slowly but surely, the MENA region is catching up with more established entrepreneurial havens and in our view, the Arab youth’s newfound interconnectedness through social media is a game-changer that will help overcome obstacles standing in the way of innovative enterprise. Arabia Monitor is an independent research firm specialized in economic and market studies on the Middle East & North African region, which we view as the new emerging market. Our forward looking perspective allows us to place current developments in the region within a broader context and a long-term view. Our analysis is based on the macroeconomic and financial balance sheet of the Arab region and delivers unique strategy insights and forecasts to businesses across sectors. To learn more about our offering and how we could add value to your operations, visit www.arabiamonitor.com Arabia Monitor 18b Charles Street | London W1J 5DU Tel +44 203 170 5533 | Fax +44 203 170 5532 info@arabiamonitor.com
  • 2. Press Release – Regional Views: Entrepreneurship– 14. XI. 2012 Arabia Monitor Economic and Market Research This report has been prepared in collaboration with: Disclaimer © Arabia Monitor 2012 This is a publication of Arabia Monitor Limited (AM Ltd), and is protected by international copyright laws and is for the subscriber's use only. This publication may not be distributed or reproduced in any form without written permission. The information contained herein does not constitute an offer or solicitation to sell any security or fund to or by anyone in any jurisdictions, nor should it be regarded as a contractual document. Under no circumstances should the information provided on this publication be considered as investment advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by AM Ltd from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. AM Ltd is not responsible for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link.