Challenge of entrepreneurship in GCC
SMEs move from their entrepreneurial phase to a professionally-managed phase. As a result, there is a huge necessity for them to adopt the concept of corporate governance. According to a report by Capita Group International (CGI), Gulf SMEs are not particularly efficient. There is a huge difference between their share of employment and their share of gross domestic product (GDP) to GDP's disadvantage. National Commercial Bank (NCB) shows in a report that the majority of GCC businesses, especially SMEs, demonstrate low efficiency, low growth, little innovation and weak management.
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