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The impact of entrepreneurship on economic and social development: a study on entrepreneurial projects in Saudi Arabia

Published Online: Sep 15, 2024

Mahmoud M. AL-AJLOUNI

Email: mahmoud.alajlouni@nbu.edu.sa
Northern Border University, Saudi Arabia

Mohamed Ali SAAD

Email: mohamed.saad@nbu.edu.sa
Northern Border University, Saudi Arabia
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Abstract:
Objectives: The objective of this study is to examine the impact of entrepreneurship on economic and social development, focusing on entrepreneurial projects in the Northern Borders Region of Saudi Arabia. Methods/Approach: The authors employed a descriptive analytical approach, gathering theoretical information from library sources and data by developing a questionnaire consisting of 32 items. This questionnaire was distributed to 151 individuals, including managers and owners of entrepreneurial projects who benefit from the services of the National Entrepreneurship Institute in the Northern Borders Region of Saudi Arabia. The number of valid questionnaires collected for analysis was 112, resulting in a response rate of 74%. Results: The preliminary analysis suggests that there is no statistically significant difference in the perception of the study sample regarding the dimensions of entrepreneurship (innovation, initiative, independence, exclusivity, and risk-taking) based on gender. Additionally, a significant correlation was found between all dimensions of entrepreneurship and economic and social development. The strongest correlation was between risk-taking and economic and social development, whereas uniqueness showed the weakest correlation with economic and social development. The study also revealed a strong, positive, and statistically significant impact of entrepreneurship on economic and social development. Conclusions: These results are important for improving entrepreneurial practices, and entrepreneurs must realize the importance of social responsibility and its impact on business success and positive societal impact. It is also necessary to understand the nature of entrepreneurial talent when determining the type of education and training required.
Keywords:
Entrepreneurship, economic development, Social Development, Northern Borders Region
Pages:
562-578
JEL Classification:
L26; M20; O10; J24; B55
DOI:
https://doi.org/10.46656/access.2023.5.3(11)
How to cite:
Al-Ajlouni, M.M., Saad, M.A. (2024). The impact of entrepreneurship on economic and social development: a study on entrepreneurial projects in Saudi Arabia. Access to science, business, innovation in the digital economy, ACCESS Press, 5(3), 562-578, https://doi.org/10.46656/access.2023.5.3(11)
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