Dubai’s position to appear as a developing market had made it an optimal place for the development of entrepreneurship. New residents from different countries have been an advantage for Dubai to open even more markets. The government also supports upcoming entrepreneurs through various organizations that help in advancing the young and fresh entrepreneurial talents.
These organizations aim at stimulating young leaders in becoming an essential part in improving the regional economy. They also provide support in setting up a strong business plan/base. Government Procurement Program made it mandatory for the government departments to contribute at least 5% of its annual procurement to Mohammed Bin Rashid Establishment for Young Business Leaders.
IMPORTANCE OF ENTREPRENEURSHIP IN DUBAI
UAE takes pride in providing platform for many large and successful companies, and attracting the Fortune 500 companies to operate in the country. Hence, it has definitely helped in achieving exceptional growth and development in the regional economy.
Entrepreneurship as well as SME (Small and Medium Enterprises) are providing entrepreneurial opportunities for development of local talents and encouraging them to engage directly with economic growth.
CHALLENGES AND OPPORTUNITIES IN ENTREPRENEURSHIP
For…show more content… According to the Knowledge and Human development Authority (KHDA) study, around 74% schools teach this subject. “Entrepreneurship education builds so many skills in students that they will need in their future lives, from communication to collaboration, resilience, negotiation and financial literacy,” said Kaltham Kenaid, head of research at KHDA. Universities like Amity University, University of Wollongong, American University, British University, Murdoch University, etc, and a lot more universities in Dubai have this subject. Thus, they play a crucial role in creating future leaders and