The State of Entrepreneurship in Saudi Arabia. Best Practices, SWOT analysis and case studies

Seminar paper from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: Master, University of Bridgeport, course: New Venture Creation, language: English, abstract: Following the advancement in globalization and technology, businesses are not confined to a single territory. All the major organizations have continuous global expansion as one of their prioritized business objectives. In such a scenario, entrepreneurs and multi-national enterprises seek avenues with promising economic outlook. One such avenue is Saudi Arabia as the country has showed tremendous economic growth in the recent past, mainly due to inflow of financial resources associated with the oil trade. A number of entrepreneurs are attempting to establish businesses in Saudi Arabia, however prior to such establishment, it is essential to know the state of entrepreneurship as it is prevailing in the country. This report presents the current state of entrepreneurship in Saudi Arabia as it includes an evaluation of a number of factors that influence the business environment. The report includes a general overview of the country, the national culture using Hofstede's national culture dimensions, an evaluation of the organizational environment, an evaluation of the ease of establishing business in the country, access to capital for new entrepreneurs, tax and regulatory environment, and human resources of the country. The report also includes a case study of three organizations operating in Saudi Arabia, which are: Lomar, IBS, and Rumman. The report highlights how these organizations have successfully established their places in their respective markets and how they continue to grow in the current state of entrepreneurship in Saudi Arabia.