How Entrepreneurship Impacts Sustainable Development: An Empirical Evidence from Emerging

Abstract

The purpose of the manuscript was to examine the impact of entrepreneurship on the sustainable development of Saudi Arabia's consulting industry. Entrepreneurship dimensions included risk-taking, innovativeness, and proactiveness, whereas sustainable development dimensions included economic, social, and environmental sustainability. The research participants were represented by managers of consulting companies in Saudi Arabia. A purposive sample of 177 managers at companies located in Jeddah was acquired, representing a response rate of 80.45% of the total disseminated surveys. To assess the research's hypotheses, structural equation modeling (SEM) was employed as an inferential statistical analytic approach. The study's findings offered support for the impact of entrepreneurship on the sustainable development of the consulting industry in Saudi Arabia. Furthermore, the findings indicated that all dimensions of entrepreneurship had positive effects on the sustainable development of the consulting industry in Saudi Arabia, with risk-taking having the largest impact and proactiveness having the lowest. Accordingly, the manuscript recommended managers of consulting companies and decision-makers in Saudi Arabia allocate extra resources for research and development activities to create new models that could assist in the proactive capture of investment opportunities.

JEL Classification: L26, L31, Q01.

Keywords: Entrepreneurship, Sustainable Development, Consulting Industry, Saudi Arabia.