Women entrepreneurship on the rise in UAE: Report
A total of 25,000 Emirati women entrepreneurs own 50,000 trade licences valued at AED 60 billion in 2021.
The United Arab Emirates is seeing an increase in women entrepreneurship. A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licences valued at AED 60 billion in 2021 compared to 23,000 Emirati women running businesses worth AED 50 billion in 2019 and 11,000 running businesses worth AED 12 billion in 2010.
The data is from the NAMA Women Advancement survey, which was conducted in partnership with UN Women. Per the survey, 77.6% of women-owned businesses (WOBs) in the UAE are led by those under the age of 40.
The survey was a part of the report ‘Women-Owned Businesses in the United Arab Emirates: A Golden Opportunity’.
A total of 1,000 female business owners took part in the survey, 48.8% of who are chief executive officers (CEOs) and 61.4% are sole proprietors, according to a press release shared by Zawya
UAE's business ecosystem
Addressing UAE’s entrepreneurial ecosystem, the report highlighted the measures undertaken by the country to ensure gender parity via legal, policy, and institutional measures over the past decade.
It also highlighted Sharjah's aim to build a sustainable economy by fostering youth entrepreneurship and emerging tech-led industries, strengthening competitiveness, and enhancing business opportunities for micro, small and medium enterprises (MSMEs).
Respondents expressed confidence in their business growth plans and highlighted the importance of securing financing sources.
Further, they also indicated the need for training and capacity-building in business skills along with commerce and digital marketing skills, financial accounting, and management tools. The requirement of acquiring knowledge on making proposals in response to bids and tenders was also highlighted.
Also, 72% of WOBs are micro-enterprises, 24% are small enterprises and 3% are medium enterprises, revealed the report.
Businesswomen councils were regarded as the main nationwide legislation drivers in encouraging women’s entrepreneurial participation via micro businesses.
Women-focused initiatives for SMEs and home-based activities were cited as sources that give access to women entrepreneurs in establishing their businesses.
The UN Women-NAMA research stated that 41.2% of female business leaders attribute access to markets as the primary challenge they face in the UAE. Out of the rest, 38.8% consider the challenge to be access to finance, while 33.5% consider high market competition to be the biggest hurdle.
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Edited by Affirunisa Kankudti
