Empowering Women Entrepreneurs in Saudi Arabia: Institutional Determinants and Pathways to Sustainable Development

Abstract

Saudi Vision 2030 aims to diversify the economy and promote societal inclusion, aligning with the UN’s Sustainable Development Goals. It emphasizes women entrepreneurship, enhancing social fairness, economic diversification, and innovation. This study explores the determinants affecting Saudi women’s entrepreneurial aspirations and challenges they face. This research utilizes an institutional economic framework to analyse the influence of institutional determinants on women’s entrepreneurial inclinations, drawing on data from the global entrepreneurship monitor (GEM). The logistic regression study indicates a substantial impact of these parameters on decisions about venture development. The finding shows that secondary education, income level, female network and role model have a significant influence on women entrepreneurship in Saudi Arabia. The insights produced offer essential direction for policymakers seeking to advance sustainable development by boosting women’s entrepreneurship in Saudi Arabia, therefore supporting the country’s overarching economic and social goals and sustainability.