IslamicFinance.de

According to the official statistics, nearly 85 percent of the Kuwaiti population is still employed by the government. While the last decade has showed a surge in entrepreneurial initiatives, roadblocks and barriers remain. There have been many initiatives for and by entrepreneurs, such as support organizations, bazaars, and farmers markets that were geared toward small businesses and entrepreneurs, many of them just in their first or second year of operation. In 2010, Kuwait passed its first long-term development plan in almost 25 years. The government planned to spend $104 billion over four years to diversify the economy away from oil, and to boost private sector participation in the economy. Young business people are extremely supportive of the government’s initiative and focus on SMEs.