Number of entrepreneurs continues to increase
KUWAIT CITY, Feb 9: Kuwaitis who own private projects have not lost their confidence in the work environment in the private sector, despite the difficulties and the level of risks they faced when government introduced measures to contain the repercussions of the spread of the Corona virus since 2020, reports Al-Anba daily. They voiced their concerns, loud and clear, in the face of the imposition of a curfew that stopped work and this reflected in direct losses that affected the continuity of their business, leading to many of them selling their projects to avoid continuing losses.
The figures indicated the self-employed citizens (subject to Chapter Five) insured with the Public Institution for Social Security (PIFSS) witnessed a remarkable increase, as their number reached 16,770 at the end of September 2021, compared to 16,240 at the end of 2019, that is, before the outbreak of the virus, with an increase of 531 male and female citizens, which confirms that citizens have great confidence in the economic returns of private projects and have not lost their passion or ambition to start working in the private sector.
The figures show female citizens are more inclined to self-employment than male citizens, as their numbers at the end of last December reached 9,615, an increase of 2,457, or 34%, compared to the 7,158 self-employed Kuwaiti males notching an increase of 368. The number of male citizens owning private businesses increased from 6,790 immediately before Corona to 7,158 at the end of last September, while the number of female citizens also increased by about 163, bringing their number from 9,452 female citizens at the end of 2019 (before the crisis) to 9,615 female citizens at the end of last September.
The figures indicate that despite the start of Kuwait’s precautionary measures in the second and third quarters of 2020, which included total closure and partial and complete curfew, the number of self-employed citizens who are insured with PIFSS increased from April 1 to the end of June 2020 by 212 male and female citizens, bringing their number to 16,454 male and female citizens by the end of June 2020, compared to 16,242 male and female citizens at the end of December 2019. With the continuation of the government’s measures to confront the repercussions of the spread of the Corona virus during the third quarter of 2020, the number of self-employed citizens increased again, as it rose by 82 male and female citizens to 16,536 Kuwaitis at the end of September 2020, compared to 16,454 Kuwaitis at the end of June of the same year. The figures showed that when Kuwait returned to tighten precautionary measures in the second quarter of 2021, specifically during April 1 until the end of last June, the number of insured civilians working for their own account increased again, as their numbers increased by 136 male and female citizens to reach 16,768 male and female citizens at the end of June 2021 compared to 16,632 Kuwaitis at the end of December 2020.
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