This high rate of entrepreneurship can be attributed to the fact that women have better understanding of financial management than men. The average monthly salary for a Saudi woman is USD 2,664 whereas the average salary for men is only USD 1,845. Women are also more comfortable and confident about taking risks to pursue new ventures and ideas. As a result, female business owners outnumber male entrepreneurs by four to one.
The Saudi government is encouraging women to be entrepreneurs in order to meet the needs of its growing workforce. Women make up a majority of the Women Entrepreneurs in KSA Saudi population, yet they are largely confined to the household. The government’s “Vision 2030” plan promises to open the country to global trends and increase opportunities for women.
In addition, the government has introduced a Saudi Women’s Entrepreneurship Fund which offers grants to local and expatriate women entrepreneurs. The government has also invested heavily in infrastructure and education. The government has also adopted several laws to support women’s empowerment, such as giving married women equal rights with their husbands, lifting a decades old ban on women driving, and allowing them to work and study in all educational institutions.
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