In today’s business climate, entrepreneurs face challenges due to slow economic growth and the results of the Covid-19 outbreak.
These challenges can make it difficult to start or grow a business. Resilient entrepreneurs can overcome these challenges with a positive attitude, and a strong work ethic can help entrepreneurs overcome obstacles.
The slow economic growth has made it difficult for businesses to get the funding they need to grow and expand, so many companies have had to reduce their operations or even close down. The outbreak of Covid-19 has also been harmful to businesses. The restrictions on movement that have been established to prevent the spread of the virus have forced many companies to close, resulting in job losses and reduced incomes.
Due to the slow economic growth, businesses are increasingly looking to adopt new and innovative ways to grow their businesses and new vital markets to open.
The Middle East is one of these major markets for business expansions worldwide, offering significant growth opportunities. The region’s economies are diverse and dynamic, with a growing middle class and a young population. It is home to some of the world’s most vibrant and fastest-growing economies. Businesses in the region are benefiting from strong economic growth fueled by rising levels of trade and investment.
The Middle East is an essential business region due to its strategic location between Europe and Asia. The nineteen Arab countries in the Middle East and North Africa comprise a large market for businesses with a large population of over 430 million people, offering significant growth opportunities.
There is no doubt that entrepreneurship is on the rise in the Middle East. With a growing population and a youthful population, the region has the potential to become a powerhouse of entrepreneurship. The future of entrepreneurship in the Middle East is bright.
The MENA Region has excellent business potential, especially in the technology telecommunication sector. There are many reasons why starting a technology business related to mobile growth in the Middle East is a great opportunity.
Based on statstica, GCC countries accounted for the highest adoption rate of smartphones in the Middle East and North Africa (MENA) region, with 79 percent in 2019 and 91 percent in 2025. A fivefold increase in mobile data consumption was predicted for the MENA region by 2025.
As the world progresses, the mobile gaming industry is one of the many areas seeing significant growth in the Middle East is one of the most important markets for mobile gaming, and businesses are booming as a result.
The mobile games industry is growing rapidly in the Middle East and North Africa region. The high number of mobile phone users in the region is driving the growth of the mobile games market.
The mobile games market in the region is expected to reach $5 billion by 2025 according to a new report.. The growing popularity of mobile games among the region’s population is due to the increasing availability of high-speed mobile broadband networks and the increasing affordability of smartphones.
The Arab world’s largest economies – Saudi Arabia and the United Arab Emirates – led the industry growth in the region.
The game revenue in Saudi Arabia, United Arab Emirates, enforced with the largest Arab population in Egypt was $1.76 billion in 2021 and is expected to rise to $3.14 billion in 2025 at a CAGR of 13.8%.
The number of mobile gamers is expected to increase in the region over the next few years, driven by the growing number of smartphone and tablet users supported by the following growth drivers:
First, the Middle East is home to a growing population of consumers increasingly using technology daily, providing a large potential market for technology businesses to sell their products and services.
MENA region is experiencing rapid economic growth, creating new business opportunities. This economic growth is driven by population growth, urbanization, and oil and gas production.
Third, the Middle East is becoming increasingly connected to the global economy, providing new opportunities for businesses in the region to trade and invest.
Fourth, the Middle East is home to many world-class universities and research institutions, producing a new generation of talented and skilled workers.
Finally, the Middle East is an attractive destination for foreign investment due to its political stability, economic growth, and significant potential market.
Thus, starting a technology business in the Middle East is an excellent opportunity for those looking to capitalize on the region’s growing economy and large potential market. Mobile Games come on the front line of these economic and growth promises.
The mobile gaming industry is projected to be worth over $110 billion by 2022, and the Middle East is poised to be a significant player in that growth, with the highest YoY +12.9%. The region is an ideal market for mobile gaming companies, with a young population that is increasingly tech-savvy and has a high disposable income.
The Middle East is an exceptional place to start a technology business because of its growing economy and large potential market. Mobile Games are particularly well-positioned to take advantage of these opportunities.
There are already some successful mobile gaming companies in the Middle East, like leading mobile game Studio Maysalward, and many more are sure to follow in their footsteps. As the industry continues to grow, so will the economies of the countries in the region.
The mobile gaming industry is providing a significant boost to the economies of the Middle East, and businesses are growing as a result. The region is an ideal market for mobile gaming companies, with a young population that is increasingly tech-savvy and has a high disposable income.
As the industry continues to grow, so will the economies of the countries in the region. The mobile gaming industry is providing a significant boost to the economies of the Middle East, and businesses are growing as a result.
Several factors have contributed to the growth of the mobile gaming industry in the Middle East. The increasing number of smartphone and tablet users is among the most critical factors. The availability of high-speed mobile internet is another important factor.
The growing number of people spending money on smartphones and mobile games is a significant factor in the region’s economy. Most importantly, the young people are the fastest-growing segment; some 60% of the population is under 25 years old, making this one of the most youthful regions in the world, with a median age of 22 years compared to a global average of 28.
Businesses in the Middle East face many challenges, including political instability, economic turbulence, and the need to adapt to rapidly changing markets. However, the region’s economies are expected to continue to grow in the coming years, providing opportunities for businesses that can seize them.
The Middle East economy has been impacted by falling oil prices, geopolitical tensions, and the Covid-19 pandemic. These factors have contributed to slow economic growth in the region, with some economies experiencing negative growth rates. This has led to reduced opportunities and increased competition for Middle East entrepreneurs.
The Covid-19 pandemic has significantly impacted businesses and workers in the Middle East. Business activity has declined, travel and tourism have decreased, and unemployment has risen, creating difficulties for regional entrepreneurs.
The challenges faced by Middle East entrepreneurs are significant but not insurmountable. By taking advantage of available resources and opportunities, these entrepreneurs can overcome these challenges and continue to grow their businesses.
Overall, the challenges that Middle Eastern entrepreneurs are facing today are significant. However, some opportunities are arising as a result of these challenges. Entrepreneurs who can seize these opportunities will be well-positioned to succeed in the current environment.
The Middle East Market is one of the world’s most vibrant and resilient markets. It is an important market for entrepreneurs due to its growth potential. The essential characteristic MENA entrepreneurs develop to succeed in this market is resilience.
Resilience is the ability to bounce back after setbacks. In the Middle East Market, due to the faced challenges, entrepreneurs developed resilience to overcome the difficulties of doing business in this region. These challenges include political instability, cultural differences, and difficulty doing business in a complex legal environment.
Successful entrepreneurs in the Middle East Market can adapt to change and overcome adversity. They have the determination and perseverance to succeed despite the challenges they face.
Starting and running a business is no easy feat. There are countless moving parts, and it can be challenging to keep everything running smoothly. However, with dedication and hard work, the MENA entrepreneurs kept their business afloat and managed to grow it over the years despite the burdens and obstacles.
Part of the success formula is the MENA Entrepreneur Resilience – the ability to withstand the knocks, setbacks and challenges that come their way and come out stronger from them.
Building Entrepreneur Resilience isn’t something that happens overnight. It’s a process that takes place over time as you learn from your mistakes, adjust your methods and fine-tune your operations. It’s about having the mental strength to keep going when things get tough, and the fortitude to stick to your plans even when facing obstacles.
The gaming industry proliferates in the region, with rising interest and investment in locally developing homegrown talent and games to serve the region and international worldwide audience.
Maysalward studio is one of the few startups able to weather the storm and continue to grow. The company was founded in 2003 by Nour KHRAIS, passionate about gaming and technology.
If you’re an entrepreneur, it’s important to build your resilience, regardless of where you’re located. Khrais, the founder of a mobile game studio startup, shares some tips he’s learned from his 20 years of experience in the industry.
Some tips from Maysalward Founder for entrepreneurs looking to build their resilience include:
Find a role model: Look for someone who’s already achieved what you want to achieve, and study their journey. What did they do to overcome the challenges they faced? What did they do differently when things got tough? Use their example to inspire and motivate you.
Build a support network: No one achieves success entirely on their own. Behind every successful entrepreneur is a team of supportive family, friends, colleagues, and mentors. Build a strong support network of your own, and lean on them when things get tough.
Create a positive mindset: A positive attitude is essential for Entrepreneur Resilience. When you believe in yourself and your abilities, you’re much more likely to tough out the tough times and come out the other side victorious. So, work on banishing negative thoughts and building a positive mindset.
Learn from your mistakes: Every mistake is an opportunity to learn and grow. When you make a mistake, take the time to analyze what went wrong and what you can do differently next time. This will help you avoid making the same mistake again and make you stronger and more resilient as an entrepreneur.
Be prepared for tough times: No business journey is always smooth sailing. There will be times when things are tough, so it’s essential to be prepared for them. Have a plan for when things go wrong, so you know how you will deal with the setbacks. This will help you stay calm and focused when tough times come, giving you the best chance of weathering the storm.
Building Entrepreneur Resilience takes time, effort, and dedication. But it’s worth it because it’s an essential part of the success formula. By working on your Entrepreneur Resilience, you’ll be giving your business the best chance of weathering any storms that come its way and achieving long-term success.
Business resiliency is critical for long-term success. Small businesses and startups are especially vulnerable to unexpected events and must be prepared to weather the storm. Building a solid foundation and having a plan is essential for business resiliency.
Preparing for the worst-case scenario is one of the most important things a business can do to ensure its survival; a plan to deal with disruptions, whether natural disasters, financial difficulties, or anything else, is crucial.
We have a clear idea of what needs to be done to keep the business running and know who is responsible for each task.
Making sure that your employees are aware of the importance of business resiliency, and are trained in how to deal with disruptions, is also vital. Should occur an incident, everyone must know what to do and whom to turn to for help. Having a plan and being prepared can make all the difference in whether a business can weather the storm or not.
The last few years have been tough for entrepreneurs and small business owners in the Middle East or any other world. The recent political turmoil and instability in the world with ongoing recovery from the COVID-19 have made it very difficult to operate a business.
The entrepreneurial journey is never easy; it’s filled with ups and downs, often downs than ups. But those who persevere and overcome the challenges are rewarded with the satisfaction of having started and built something from nothing. The journey is challenging in the Middle East, where political instability and a lack of funding can make it hard to get a business off the ground.
Despite the challenging environment, Maysalward has been able to find success by focusing on developing quality games that are enjoyed by players all over the world. The company has released several successful titles and IPs.
Lastly, entrepreneurship can still thrive despite the challenges entrepreneurs face today. A few tips from Maysalward’s founder for entrepreneurs in these challenging times:
1. Keep a positive outlook and focus on your goals.
2. Stay flexible and adapt to the ever-changing landscape.
3. Stay connected to your network and build strong relationships.
4. Keep learning and continuously strengthen your skills.
5. Be resilient and never give up on your dreams.
The future of entrepreneurship in the Middle East is bright, and you can be part of it.