The report revealed that respondents from the Mena region were more inclined to have a positive view of setbacks, show greater persistence and better see the benefits of overcoming adversity, compared to those in Western economies.
81% of the respondents in the Middle East were found to believe that past failure in entrepreneurial endeavors increases the chance that a new business will succeed.
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On being queried whether they would hire an individual who had experienced entrepreneurial failure; within the Mena region, 89% of Saudi (89%) and 86% of Qatari respondents confirmed that they would, compared to 61% of UAE respondents.
Additionally, within the Mena region, 36% of Qataris are most likely found to be cutting their losses when the business is underperforming, though everyone believed that past failure will increase chances of future success in entrepreneurial endeavors, said the survey.
With regards to learning from failure, 73% of Qataris, 45% of UAE and 34% of Saudis cited that they have learnt a great deal from past failures.
And when the respondents were asked if they were able to bounce back quickly from failure the responses were similar; 85% in Qatar agreed with the statement, compared to 45% in Saudi and 37% in UAE.
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