Small and Medium Entrepreneurship in Saudi Arabia's Vision 2030 and Its Role in Reducing Unemployment in the Kingdom of Saudi Arabia

Abstract

SMEs (small and medium-sized enterprises) account for 60 to 70 percent of jobs in most OECD (Organization for Economic Cooperation and Development) countries with a particularly large share in Italy and Japan, and a relatively smaller share in the United States. Throughout; they also account for a disproportionately large share of new jobs, especially in those countries which have displayed a strong employment record.In Saudi Arabia, more than two-thirds of the population are younger than 30 and about 100,000 graduates enter the job market each year. The present paper discusses what measures should be taken and highlights the importance of understanding the relationship and interaction between unemployment and entrepreneurship. The present research focuses on studies that explain small and medium-sized entrepreneurship and its role in reducing unemployment in the Kingdom of Saudi Arabia. Both qualitative and quantitative approaches are used to collect data that may contribute to a better understanding of the employment issues of Saudi young men and women. Besides; we introduce entrepreneurship Survey Questionnaire; this survey has focused mainly on understanding the relationship and interaction between unemployment and entrepreneurship. In this survey, a more balanced view is taken by examining the factors which contribute to creating more job opportunities.