Entrepreneurship is no more the monopoly of a patriarchal society. Women entrepreneurs play a crucial role in the business sector of every developed nation. UAE being a highly advanced country have realized the importance of women empowerment long ago. This has paved the way for numerous female entrepreneurs to establish their mark in UAE’s business sector. Let us analyze various opportunities available for women entrepreneurs in UAE society and how the government support them through different initiatives. Below are some of the reasons why women should consider about a business setup in UAE.
The UAE is a land that values gender equality more than any other nation in the MENA region. It is one of the UAE government’s development goals, so that it becomes one among the top 25 nations across the globe for gender equality by 2021.There have been many positive changes that took place recently in the GCC with regard to women empowerment. Effective strategies have been adopted to empower female entrepreneurs in the GCC with the support of the UAE government.
As a part of bridging the gender gap in business sector, the UAE government had promised $50m to the Women Entrepreneurs Finance Initiative fund in 2017, leading to huge rise in the number of women entrepreneurs making their mark in the business industry.
The UAE government is supporting various initiatives to help female entrepreneurs thrive in the business industry. One such initiative is the Dubai Business Women Council (DBWC), a non-profit organization that provides educational, professional and financial assistance to support the business goals of businesswomen in UAE.
Another step is the Abu Dhabi Business Women Council (ADBWC)’s Integrated and Innovative Business Incubator for women that provides new business ideas. This initiative helps women to identify the latent creative ideas within themselves and transform them into productive projects. The incubator also offers technical assistance and guidance, apart from financial backing to deserving entrepreneurs.
Yet another one is the Dubai Women Establishment (DWE), an enterprise that conducts an annual Women Leadership Exchange Programme that offers guidance to women entrepreneurs on sustainable leadership practices and networking opportunities.
Private Company Partnerships
The UAE can play a major role in the economic empowerment of women, but this can be effective only with a partnership of the public and private sectors. The private sector companies need to realize this change as a constructive thing for their company and not just for the women employees. Several multinational companies have joined in this initiative and the government is working to attract more investors for spreading awareness about the same.
Change in organizational culture
One of the major determinants that prevent gender diversity across business environment is the organizational culture that upholds patriarchal values. Most of our institutions and companies have been run by a male dominated society for a long time and that system does not recognize the needs and challenges of women who aspire to arouse to that status. The UAE government has realized the need for a drastic change in the hiring policies and organizational culture across work sector. This will enable the career growth and development of female employees and will motivate them to strive towards entrepreneurial roles in the future.
Flexible Work Options for Women
Women need to cater to more diversified life roles compared to their male counterparts. This fact should be considered while framing work rules in companies and institutions. Many companies in UAE have started developing technology-based solutions to make work comfortable for women during pregnancy and child rearing period. Governments have started realizing the need for flexible timings and work from home options for women to establish their presence in the mainstream economy. The UAE government’s mission of creating an inclusive work environment that accommodates everyone, regardless of life commitments, has boosted the nation’s economy and encouraged more women to investor roles.
Women comprise about 70% of the UAE’s university graduates and 44% of the total workforce. These facts will explain how UAE government is working towards the development of its female population. With an increased support from companies and due to evolving government policies, there has been a huge surge in the number of women entrepreneurs during the past few years. At Axiom Mark, we understand the challenges faced by female entrepreneurs and offer them complete support towards a successful business setup in UAE.