Evaluations of the Gulf Region’s economic sphere reveal that much of the business is carried out by Micro, Small, and Medium Sized Enterprises (MSMEs). Bearing in mind the importance of MSMEs in job creation, innovation, and business growth, the Pearl Initiative undertook an extensive survey across these companies to understand their approaches to corporate governance and competitiveness. Our survey revealed that MSMEs are keen to expand their horizons, but encounter obstacles with funding, hiring skilled employees, allotting time for ventures, and retaining talent. The survey thus provides a framework that will help MSMEs address these issues through effective corporate governance towards more stable and successful forms of entrepreneurship.