Most countries in the MENA region continue to marginalize the most vulnerable adolescents and youth, particularly young women, poor, refugees or people with disabilities, impacting their ability to realize their full potential. As a result, young entrepreneurs find it extremely difficult to run their micro-enterprises, small businesses, and start-ups the same way they did before the coronavirus pandemic.
The rate of entrepreneurship and business creation in the MENA region is among the lowest in the world. Due to social problems that perpetuate inequalities across the region, there has been a rise in social enterprises seeking social impact, environmental sustainability and necessity-based entrepreneurship. Unemployment, especially for youth, is one of the main socio-economic problems in these countries. Entrepreneurs face administrative red tape and bureaucratic challenges to start a business. Entrepreneurship education lags. The legal framework does not provide adequate support and incentives to enterprises but rather reduces firms' ability to compete in markets. The private sector plays a limited role in the entrepreneurial ecosystem. In many countries, entrepreneurship funding is at an early stage where financial institutions have a risk-averse attitude and are more likely to invest in late-stage start-ups or established SMEs.
continue reading at this link
