A ground-breaking study conducted by QNET and Nielsen IQ has found that most Egyptians hold favourable attitudes toward entrepreneurship in the post-pandemic economy. Most also believe the direct selling model provides advantages to starting a business and earning extra income.
A willingness among Egyptians to engage in entrepreneurship is a positive sign for the country, as other studies have suggested that entrepreneurship could be a significant driver of economic growth throughout the Middle East and North Africa (MENA) region, where women and youth – though well-educated – struggle with high levels of unemployment.
The Nielsen study, which interviewed 1,121 respondents from across Egypt, found that most associate entrepreneurship with concepts such as freedom, being your own boss and earning a high income.
A growing desire for independence and flexibility drives this positive perception, as many identified these as primary motivators for becoming an entrepreneur. At the same time, they also noted financial risk as a significant barrier.
More than half the respondents cited online businesses as an example of entrepreneurial activity and 45% believe COVID-19 increased opportunities for online entrepreneurs in Egypt.
This reflects the experience of many others around the world during the lockdowns. When bricks-and-mortar stores were forced to close, e-commerce-based businesses experienced a boom globally, as more people went online to purchase the goods and services they needed.
Advances in mobile technology and the growth of online businesses are creating more income earning opportunities in Egypt and other MENA countries. The Organisation for Economic Co-operation and Development found that online business processes, such as social commerce and mobile phone payment systems, are lowering barriers to entrepreneurship in the MENA region, particularly for women.
The availability of more income-earning opportunities could be changing how Egyptians view their employment. The Nielsen study revealed a broad approval among Egyptians of having a ‘side job’ – in addition to their primary employment – to earn supplemental income.
Again, the attitude among Egyptians is consistent with the global trend, particularly with the growth of the gig economy, in which people use online platforms to sell products and services to earn extra income in their spare time.
According to the Nielsen study, direct selling ranked as the most common activity mentioned by Egyptians who currently have or have had a side job. Of these respondents, 78% said having a side job was a good source of extra income, 45% claimed it provided them with new experiences and 40% mentioned it increased their self-confidence.Click below to share this article