Version 1
: Received: 2 July 2024 / Approved: 3 July 2024 / Online: 3 July 2024 (06:36:47 CEST)
How to cite:
Elmonshid, L. B. E.; Sayed, O. A. The Relationship between Entrepreneurship and Sustainable Development in Saudi Arabia: A Comprehensive Perspective. Preprints2024, 2024070291. https://doi.org/10.20944/preprints202407.0291.v1
Elmonshid, L. B. E.; Sayed, O. A. The Relationship between Entrepreneurship and Sustainable Development in Saudi Arabia: A Comprehensive Perspective. Preprints 2024, 2024070291. https://doi.org/10.20944/preprints202407.0291.v1
Elmonshid, L. B. E.; Sayed, O. A. The Relationship between Entrepreneurship and Sustainable Development in Saudi Arabia: A Comprehensive Perspective. Preprints2024, 2024070291. https://doi.org/10.20944/preprints202407.0291.v1
APA Style
Elmonshid, L. B. E., & Sayed, O. A. (2024). The Relationship between Entrepreneurship and Sustainable Development in Saudi Arabia: A Comprehensive Perspective. Preprints. https://doi.org/10.20944/preprints202407.0291.v1
Chicago/Turabian Style
Elmonshid, L. B. E. and Omer Ahmed Sayed. 2024 "The Relationship between Entrepreneurship and Sustainable Development in Saudi Arabia: A Comprehensive Perspective" Preprints. https://doi.org/10.20944/preprints202407.0291.v1
Abstract
This study examines the relationship between entrepreneurship and sustainable devel-opment in Saudi Arabia from 2006 to 2022, focusing on the economic, social, and en-vironmental dimensions. Using the Autoregressive Distributed Lag (ARDL) model, the research investigates both short-run and long-run dynamics to understand how entre-preneurial activities influence sustainable development within the framework of Saudi Arabia's Vision 2030 initiative. The findings indicate that entrepreneurship significantly contributes to economic growth through job creation and innovation, thereby aiding in the diversification of the economy away from oil dependency. Socially, entrepreneurial ini-tiatives have a positive impact on gender equality and social inclusion by empowering women and integrating youth into the labour market. Environmentally, entrepreneurship helps reduce carbon emissions and promotes sustainable business practices. Despite these positive outcomes, challenges such as regulatory barriers, limited access to finance, and the need for a supportive entrepreneurial ecosystem remain. Recommendations include enhancing entrepreneurial education, providing financial incentives, and streamlining regulatory processes to better support start-ups and SMEs. The study highlights the ne-cessity of addressing these challenges to fully realize the potential of entrepreneurship for sustainable development in Saudi Arabia. By providing empirical evidence on the sig-nificant role of entrepreneurship in driving sustainable development, this research offers actionable insights for policymakers aiming to foster a more resilient and diversified economy in line with Vision 2030.
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Keywords
Entrepreneurship; Sustainable Development; Economic Growth; Environmental Sustainability; ARDL Model
Subject
Business, Economics and Management, Economics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
