Female entrepreneurship surges in UAE

Inayat-ur-Rahman, Business Editor

Women entrepreneurship in the UAE will gain further momentum and contribute a significant boost to gross domestic product (GDP) as more female investors have shown interest in setting up their business in the country, according to a business consultancy.

Business Link, a leading business consultancy with operations in the UAE and KSA, said 47.5% of small and medium enterprises (SMEs) in the emirate are owned by women and they make up 20% of the workforce. Women contribute about 20% to the country’s GDP annually and this share may increase to 25% in coming years, it said.

Referring to latest data from LinkedIn, the business consultancy said that female entrepreneurship in the UAE surged by 68% as the pandemic advanced.

Hatem El Safty, CEO of Business Link, stated: “Since post-pandemic, we have observed more women, both local and foreigners coming forward to establish their own business setup in Dubai, specifically. The UAE’s economy is a perfect landscape for women to launch their businesses due to the increasing government support and incentives, especially for SMEs.” “I truly believe investing in women-led businesses is an excellent investment for any country to progress as women, who are given financial independence, investment in families and communities, which boosts economic growth and helps societies become more healthy,” El Safty added.

“Women empowerment is order of the day to increase their participation in economic activity. Female entrepreneurs will have a higher percentage in tech-based businesses in Gulf region,” El Safty said.

Faisal Qureshi, Chief Marketing Officer at Business Link, said that global events like GITEX also give a platform for women entrepreneurs to present their ideas to international audiences and receive the funding they deserve.

“Women in the GCC are reportedly coming up with innovative methods for overcoming barriers that prohibit them from launching their own businesses or entering the workforce. Recent visa reforms and government initiatives have created a level playing ground for female entrepreneurs and they should take an advantage of conducive environment,” he said.