In 2017, there were more than 80,000 registered Saudi entrepreneurs, while another 3,000 new startups were added during the year.
In addition, there were around 6,500 Saudi startups with over $100 million invested in their operations by investors in 2016. However, the total number Business Setup in Saudi of small and medium businesses owned by women in Saudi Arabia was estimated to be about 5,500 at the end of 2015.
Despite this encouraging growth rate, there is still a lack of awareness about the business world among Saudi women and girls. It seems that Saudi women are more interested in social entrepreneurship than in business. There is an urgent need to provide women with opportunities to participate in business. To achieve this, the government must make sure that women receive enough training to become entrepreneurs.
The most effective way to teach women is through vocational training. For example, vocational training institutes can be established that provide the knowledge necessary to create businesses. Additionally, female entrepreneurs can learn to read books and write business plans.
Saudi women entrepreneurs tend to be younger than their male counterparts. For example, 70% of Saudi female entrepreneurs had either a bachelor’s or higher degree, while only 57% of male entrepreneurs did.