Building Tomorrow's Saudi Entrepreneurs with Digital and Soft Skills
Young Saudis need a combination of digital and technical skills to thrive in the Kingdom's dynamic business environment, experts say.
Riyadh: Young talents in Saudi Arabia require a blend of digital and technical skills, including artificial intelligence (AI) and data analytics, to succeed in the Kingdom's dynamic business environment, according to Arab News.
Strengthening entrepreneurship and bolstering the small and medium enterprises (SMEs) landscape is a key goal outlined in Saudi Arabia's Vision 2030 agenda, as the Kingdom diversifies its economy by reducing reliance on oil revenues.
Amr Kazimi, manager of the public sector practice at Arthur D.
Little Middle East, stated that equipping young Saudis with the ability to innovate and build businesses could help reduce dependence on oil and accelerate diversification into priority non-energy sectors such as technology, tourism, and renewable energy.
To thrive in Saudi Arabia's business environment and stay abreast of global trends, young entrepreneurs need skills such as AI, data analytics, e-commerce, strong financial literacy, and business management skills.
These abilities will aid them in navigating funding opportunities and managing businesses effectively.
Additionally, innovation, problem-solving, leadership, adaptability, and cross-cultural communication are crucial for supporting the Kingdom's push toward a thriving economy.
Philipp Lemmerz, Middle East leader for economic competitiveness at PwC Middle East, noted that technical fluency in finance, digital tools, and emerging technologies is now a basic requirement for young entrepreneurs to confidently lead in the rapidly changing business landscape.
Shihab Elborai, partner at Strategy& Middle East, part of the PwC network, emphasized that interpersonal skills such as adaptability, active listening, and risk awareness play an essential role in career progression for young Saudi entrepreneurs.
Vanina Torlo, head of Oliver Wyman's India, Middle East, and Africa Education Practice, stated that a blend of innovation, creativity, business sense, and strong digital skills is vital for honing entrepreneurship abilities among Saudis.
Nirmal Chhabria, professor at Georgetown University's McDonough School of Business, highlighted the long-lasting economic impact of developing entrepreneurial skills among Saudi youth.
Strengthening these skills will accelerate technology adoption and innovation diffusion, allowing young entrepreneurs to gravitate toward emerging technologies and digital solutions.
The PwC official added that by instilling entrepreneurial confidence and capability across Saudi youth, Vision 2030 can be achieved and anchored in a thriving, innovative private sector.
Shihab Elborai and other experts discussed the importance of a supportive ecosystem for entrepreneurship, including streamlined regulations, robust financing channels, access to mentorship and networking, infrastructure, access to talent, and adequate enablers.
They also emphasized that success in youth entrepreneurship should be measured by outcomes such as SME contribution to the Kingdom's GDP, employment generation, reductions in youth unemployment, venture capital attracted, patent registrations, and participation in accelerator or incubator programs.
Strengthening entrepreneurship and bolstering the small and medium enterprises (SMEs) landscape is a key goal outlined in Saudi Arabia's Vision 2030 agenda, as the Kingdom diversifies its economy by reducing reliance on oil revenues.
Amr Kazimi, manager of the public sector practice at Arthur D.
Little Middle East, stated that equipping young Saudis with the ability to innovate and build businesses could help reduce dependence on oil and accelerate diversification into priority non-energy sectors such as technology, tourism, and renewable energy.
To thrive in Saudi Arabia's business environment and stay abreast of global trends, young entrepreneurs need skills such as AI, data analytics, e-commerce, strong financial literacy, and business management skills.
These abilities will aid them in navigating funding opportunities and managing businesses effectively.
Additionally, innovation, problem-solving, leadership, adaptability, and cross-cultural communication are crucial for supporting the Kingdom's push toward a thriving economy.
Philipp Lemmerz, Middle East leader for economic competitiveness at PwC Middle East, noted that technical fluency in finance, digital tools, and emerging technologies is now a basic requirement for young entrepreneurs to confidently lead in the rapidly changing business landscape.
Shihab Elborai, partner at Strategy& Middle East, part of the PwC network, emphasized that interpersonal skills such as adaptability, active listening, and risk awareness play an essential role in career progression for young Saudi entrepreneurs.
Vanina Torlo, head of Oliver Wyman's India, Middle East, and Africa Education Practice, stated that a blend of innovation, creativity, business sense, and strong digital skills is vital for honing entrepreneurship abilities among Saudis.
Nirmal Chhabria, professor at Georgetown University's McDonough School of Business, highlighted the long-lasting economic impact of developing entrepreneurial skills among Saudi youth.
Strengthening these skills will accelerate technology adoption and innovation diffusion, allowing young entrepreneurs to gravitate toward emerging technologies and digital solutions.
The PwC official added that by instilling entrepreneurial confidence and capability across Saudi youth, Vision 2030 can be achieved and anchored in a thriving, innovative private sector.
Shihab Elborai and other experts discussed the importance of a supportive ecosystem for entrepreneurship, including streamlined regulations, robust financing channels, access to mentorship and networking, infrastructure, access to talent, and adequate enablers.
They also emphasized that success in youth entrepreneurship should be measured by outcomes such as SME contribution to the Kingdom's GDP, employment generation, reductions in youth unemployment, venture capital attracted, patent registrations, and participation in accelerator or incubator programs.
