Women in UAE Business
The UAE has steadily grown to become a lucrative hub for entrepreneurship in recent years, attracting individuals from all over the world to set up their businesses. And as the business landscape in the UAE continues to evolve, the region is seeing a significant rise in the number of female entrepreneurs taking the plunge and starting their own ventures.
These women are breaking down barriers and stereotypes in the business world, and their contribution to the UAE's economy is undeniable.
In this blog, we'll examine the rise of female entrepreneurship in the UAE and examine why a business setup in UAE might be right for you.
Female Entrepreneurs in UAE
According to a report by Dubai SME, the percentage of female entrepreneurs in Dubai alone has risen from 11% to 14% in the past three years. This surge in female entrepreneurship is not only empowering women but also driving the UAE's economy forward.
One reason behind this increase in female entrepreneurship is the UAE government's efforts to create an environment conducive to starting and growing a business. The government has implemented several initiatives to support women in business, including offering financial assistance, training programs, and mentorship opportunities. Additionally, the government has removed several bureaucratic barriers, making it easier for women to set up their businesses in the UAE.
Business setup in Dubai is relatively straightforward, and with the government's support, female entrepreneurs can establish and run successful businesses in the region. From fashion boutiques to tech startups, women are making their mark in various industries.
UAE Government Initiatives for Businesswomen
The UAE government has been proactive in creating an environment conducive to female entrepreneurship. The government has implemented various initiatives to support women in business and empower them to achieve their goals. Here are some of the government initiatives that have been launched to support female entrepreneurs in the UAE.
The Businesswomen Package from RAKEZ Free Zone
The RAKEZ free zone has launched a unique package that offers female entrepreneurs a 50% discount on the company setup fee. The package includes a free zone license, a free zone establishment card, and a 3-year residency visa.
Women in Innovation Package by Sharjah Research, Technology and Innovation Park (SRTI)
SRTI has launched a package to support female entrepreneurs in the technology and innovation sector. The package includes funding, mentorship, and support in the form of research and development facilities.
She Wins Arabia by the International Financial Corporation (IFC) and Abu Dhabi Global Market (ADGM)
She Wins Arabia is an initiative to support female entrepreneurs in UAE by providing access to funding, mentorship, and networking opportunities. The initiative is a collaboration between the IFC and ADGM and is open to female entrepreneurs from all sectors.
Department of Economic Development’s Intilaq Programme
The Intilaq Programme is a government initiative that provides support to Emirati entrepreneurs. The program offers funding, mentorship, and training opportunities to Emirati women looking to start their own businesses.
Dubai Business Women Council
The Dubai Business Women Council (DBWC) is a government initiative that aims to support and empower female entrepreneurs in Dubai. The council provides training, mentorship, and networking opportunities to female entrepreneurs in the region.
Exciting Facts About Female Entrepreneurship in the UAE
Now that we’ve examined some of the large-scale initiatives formed by the UAE, let’s look at a few exciting facts that highlight female entrepreneurship's impact on the country's economy.
Economic Future
According to a report by McKinsey & Company, advancing women's equality in the UAE could contribute $160 billion to the economy by 2025. This underscores the significant role that female entrepreneurship is expected to play in the future of the UAE's economy.
Better Work Options
Female entrepreneurship in the UAE has created better work options for women, allowing them to work from home and manage their businesses around family commitments. This has helped to reduce the gender gap in the workforce and has provided more opportunities for women to contribute to the economy.
Women-led Companies Are Capital Efficient
Women-led companies in the UAE are more capital-efficient than those led by men. A study by Boston Consulting Group found that for every dollar of funding, women-led startups generated 78 cents, compared to 31 cents for male-led startups. This shows that female entrepreneurs in the UAE are creating successful businesses that are efficient with capital.
Support from Various Government Initiatives
Female entrepreneurs in the UAE can benefit from various government initiatives that support their businesses. These initiatives provide funding, mentorship, training opportunities, and access to networks and resources. This support has helped to create a conducive environment for female entrepreneurs to succeed.
Backing for Female Entrepreneurs
One of the primary ways the UAE backs women in business development is by creating a conducive environment for business setup in UAE. The country has streamlined its business registration processes, making it easier for women to start their businesses than ever before. Additionally, the UAE government has created free zones that offer tax incentives and a wide range of benefits to entrepreneurs, including women.
By creating a conducive environment for business setup in UAE and launching several programs and initiatives to support women entrepreneurs, the UAE is making significant strides toward gender equality in business. As a result, we can expect to see more women successfully establishing and growing their businesses in the UAE in the coming years.
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