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SEVENTY-ONE percent of residents of Middle East and North Africa (MENA) prefer to be self-employed, a recent survey conducted by Bayt.com in association with YouGov, has revealed.
According to the 'Entrepreneurship in the MENA' report, 58 percent of the respondents cited 'personal fulfilment' and 41 percent 'freedom to choose work-life balance' as their primary reasons for this preference for self-employment.
On the other hand, close to a quarter of respondents (23%) said that they would prefer to seek employment in a company, as opposed to setting up their own business. The main reason for this decision is the security of a 'regular income' (44%), followed by the interest in 'learning new skills' (41%), 'employment stability' (35%), 'benefits and perks' (31%) and 'fixed working hours' (28%).
For 28 percent of MENA professionals 'lack of finances to start their own business' was the main reason they chose to seek employment in a company rather than set up their own business.
For employed MENA professionals, almost three in five are contemplating starting their own business (59%), while 17 percent have already attempted to do so in the past but either"could not do so" or"failed to do so".
As for MENA professionals who are currently self-employed, 75 percent have taken the first steps to establish their business within the last six years. Respondents who are self-employed said that 'gaining greater independence in what they wanted to achieve' (39%), 'feeling the time was right' (34%) and 'wanting to do what they love' (34%), were the main reasons behind their decision. (TNN)
