Cairo 23 Apr 2024:
According to the GoDaddy 2024 Global Entrepreneurship Survey, entrepreneurs in Egypt are well-informed, have a meaningful purpose for becoming small business owners, and have a positive outlook on how technology can be used in business.
GoDaddy 2024 Global Entrepreneurship Survey results showed that entrepreneurship scene in Egypt is budding, with 86% falling into the Baby Boomers age bracket (55 years old and above), surpassing Generation X (78%), Generation Z (78%), and Millennials (59%). Despite being relatively new to owning a business, with 71% reporting five years or less in business, they demonstrate a proactive approach by seeking mentorship or guidance, as indicated by 80% of respondents.
The Survey data shows motivations for starting a business are multifaceted, with the top three answers being a way to follow their passion (29%), having an idea for a new product or service (20%), and needing an additional source of income (18%). Additionally, 81% of entrepreneurs reported they were parents (57% mothers, 43% fathers), illustrating the dedication to pursuing meaningful work while managing the demands of a family.
This inclination towards purpose-driven entrepreneurship aligns with their outlook on technology for business advancement. Ninety- three percent of respondents acknowledged the importance of digitization for their businesses. This positive outlook on technology underscores their adaptability and readiness to leverage modern tools and innovations to propel their businesses forward.
Furthermore, the GoDaddy 2024 Global Survey reveals entrepreneurs’ confidence in technology with 93% reporting confidence in navigating the use of Artificial Intelligence tools for their business, and 54% reported wanting to use technology to expand their market reach to get new customers. These results highlight the determination and drive of entrepreneurs in Egypt to forge their paths in the business world by merging their passions with technology for successful digital entrepreneurship.
“At GoDaddy, we are inspired to see entrepreneurs embracing technology, including AI technologies, and feel confident in their entrepreneurial journey,” says Selina Bieber, Vice President for International Markets at GoDaddy. “GoDaddy’s easy to use integrated suite of online tools and services, along with guidance and resources, are designed to support entrepreneurs and small businesses grow their business throughout their digital journey,” she added.
The findings from GoDaddy’s 2024 Global Entrepreneurship Survey shed light on the dynamic landscape of entrepreneurship in Egypt, where innovation, purpose, and technology converge. Results show that the entrepreneurial spirit in Egypt is not only alive but thriving. As these passionate individuals navigate their journey, GoDaddy is ready to empower them with the necessary online tools, services, and guidance, affirming its support for their digital endeavors.
