The Role of Entrepreneurship in Economic Development in Saudi Arabia
Yusuf N1* and Albanawi NI2
1Department of Economics and Administration, Jamia Street, King Abdul-Aziz University, Jeddah-21551, Saudi Arabia
2King Abdul-Aziz University, Jeddah, Saudi Arabia
- *Corresponding Author:
- Yusuf N
Department of Economics and Administration
Jamia Street, King Abdul-Aziz University, Jeddah-21551, Saudi Arabia
E-mail: [email protected]
Received Date: February 18, 2016; Accepted Date: March 04, 2016; Published Date: March 10, 2016
Citation: Yusuf N, Albanawi NI (2016) The Role of Entrepreneurship in Economic Development in Saudi Arabia. Bus Eco J 7:204. doi:10.4172/2151-6219.1000204
Copyright: © 2016 Yusuf N, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
One of the key objectives of modern economics is to determine factors that influence the economic development. This paper, therefore, seeks to discuss entrepreneurship as one of the factors that influence the economy of a nation, either directly or indirectly. It is a fact that entrepreneurship plays a significant part in shaping the landscape of a country’s economy. Economists and policy makers recognize this fact. In fact, entrepreneurship is the engine of economic growth and it has come to be perceived as a catalytic agent for expansion and promotion of productive activities in every sphere of economic life all over the world. This research will focus on finding out how entrepreneurship influences the economy of Saudi Arabia. The paper will begin with a brief introduction of the topic before proceeding to present a comprehensive review of literature relevant to the topic. It will then proceed to present an overview of relevant variables used in determining the role played by entrepreneurship in the economy of Saudi Arabia. There will then follow a discussion on the disadvantages of entrepreneurship to the economy. The paper will end with a conclusion summarizing all the keys points discussed, research limitations, and recommendations for further research.