According to the GoDaddy 2024 Global Entrepreneurship Survey, entrepreneurs in the UAE are well informed, have a meaningful purpose for becoming small business owners and have a positive outlook on how technology can be used in business.
Survey results showed that entrepreneurs in the UAE are predominantly young, with 64% falling into the Millennial age bracket (between 25 and 39 years old), surpassing Generation X (48%), Generation Z (50%), and Baby Boomers (50%). Despite being relatively new to owning a business, with 60% reporting five years or less in business, they demonstrate a proactive approach by seeking mentorship or guidance, as indicated by 73% of respondents.
The survey data shows motivations for starting a business are multifaceted, with the top three answers as needing an additional source of income (28%), a way to follow their passion (22%), having an idea for a new product or service (20%). Additionally, 67% of entrepreneurs reported they were parents (44% mothers, 55% fathers), illustrating their dedication to pursuing meaningful work while managing the demands of a family.
This inclination towards purpose-driven entrepreneurship aligns with their outlook on technology for business advancement. Ninety two percent of respondents acknowledged the importance of digitization for their businesses. This positive outlook on technology underscores their adaptability and readiness to leverage modern tools and innovations to propel their businesses forward.
Furthermore, the GoDaddy 2024 Global Survey reveals entrepreneurs’ confidence in technology with 92% reporting confidence in navigating the use of Artificial Intelligence tools for their business, and 55% reported wanting to use technology to expand their market reach to get new customers. These results highlight the determination and drive of entrepreneurs in the UAE to forge their paths in the business world by merging their passions with technology for successful digital entrepreneurship.
“At GoDaddy, we’re inspired by their confident spirit and purposeful approach to entrepreneurship. It’s encouraging to see small business owners and entrepreneurs embracing technology and feel confident in their entrepreneurial journey,” says Selina Bieber, Vice President for International Markets at GoDaddy. “GoDaddy is here to support them with online tools and resources to feel confident throughout their digital journey,” she added.
The findings from GoDaddy’s 2024 Global Entrepreneurship Survey shed light on the dynamic landscape of entrepreneurship in the UAE, where innovation, purpose, and technology converge, showing that the entrepreneurial spirit in the UAE is both alive and thriving. As these passionate individuals navigate their journey, GoDaddy offers easy-to-use online tools, services, and resources designed to support their digital endeavours.
