Qatar is the best country in the region for entrepreneurs because of the business friendly environment and proactive policies of the government.
Qatar has topped the region in terms of ease of starting and developing a business in the National Entrepreneurship Context Index (NECI) created by Global Entrepreneurship Monitor (GEM). The Index measures and ranks the ease of starting and developing a business in different countries. In the 2019-2020 report, Qatar has secured third place in the global ranking, leaving behind US, China, Japan, UK, Germany and other major global economies.
The outstanding performance of Qatar reflects a strong entrepreneurial spirit amongst its population, and a supportive entrepreneurial ecosystem. The high ranking of the country is a result of the numerous initiatives and efforts undertaken in Qatar to encourage the growth of entrepreneurship, and create a sustainable entrepreneurial environment. In 2019, 50 countries of all sizes, income levels and stages of development participated in the GEM research.
Entrepreneurship, broadly defined as any attempt at new venture or new business creation, such as self-employment, a new business organization or the expansion of an existing business, by an individual, a team of individuals, or an established business, is a vital ingredient in the economic development mix and an important determinant of present and future incomes and jobs.
It is not the first time Qatar has earned appreciation for creative conducive environment for entrepreneurs. Last year, the World Bank had listed Qatar as one of the top 20 countries in the world in terms of their improvement to the ‘Ease of Doing Business 2020’ score. Qatar had earned spot in the top global business environment improvers by embarking on ‘an ambitious program to improve its business regulations’ according to the World Bank.
Entrepreneurship is an essential driver of societal health and wealth, and a formidable engine of economic growth. It promotes the innovation required not just to exploit new opportunities, promote productivity and create employment, but also to help address some of society’s toughest challenges as stated by the United Nations Sustainable Development Goals (SDGs). Many of the world’s governments, think tanks, non-governmental and international organizations now look towards entrepreneurship as a key part of the solution to ending poverty and social inequity, promoting women’s empowerment, and implementing business solutions to the world’s environmental challenges, including climate change.
Qatar will continue to launch its diverse initiatives to promote entrepreneurship, develop small and medium-sized enterprises and Qatari entrepreneurs.
