Over time, women entrepreneurs have contributed significantly to the strategy for economic growth and prosperity in the UAE. As more women embark on their entrepreneurial ventures, the environment is adapting to provide them with the necessary resources and support.
The UAE is particularly committed to providing women with the best opportunities to excel in their respective industries and realize their entrepreneurial ambitions. In this article, we explain the compelling reasons why the UAE is the ideal destination for women entrepreneurs to start their own businesses.
Women on the rise in the UAE:
The UAE is a leader in the region in promoting gender equality. In 2017, the Emirates allocated $50 million to the Women Entrepreneurs Finance Initiative fund, and by 2018 had reduced the gender gap in the UAE workforce by 64%. Remarkably, 33% of the women-led businesses surveyed in the UAE generated revenues of $100,000 or more, outperforming their counterparts in other countries surveyed. The trend is undeniably positive, as the proportion of women-owned corporations in the UAE is steadily increasing.
While free zones and various jurisdictions are trying to outdo each other in creating the most user-friendly “women entrepreneurs’ packages’,” licensing fees for certain categories of business have also been reduced. This reduction is intended to encourage more women to become entrepreneurs. In addition, local licensing authorities are giving women entrepreneurs more flexibility in determining the approach they want to take in running their businesses.
Here are some of the advantages that women entrepreneurs can enjoy in the UAE in 2023:
Access to a Vast and Expanding Market: With a population of over 9 million people and a rapidly growing economy, the UAE offers a substantial and ever-expanding market for businesses owned by women.
Business-Friendly Atmosphere: The UAE boasts a business-friendly environment characterized by low taxes and well-developed infrastructure, simplifying the process of initiating and managing businesses for women.
Government Backing: The government extends support to women entrepreneurs through various programs and initiatives, including financial aid, training opportunities, and mentorship programs.
Resources abound: Women entrepreneurs in the UAE have access to a wealth of resources, such as business incubators, accelerators and networking communities to facilitate their business endeavors.
Supportive cultural climate: The UAE takes a relatively progressive stance on gender equality and fosters a culture that encourages and supports women entrepreneurs.
The business landscape in the UAE is committed to promoting equality in the corporate sector as well as the business arena. We dare say that there has never been a more opportune time to be a woman entrepreneur in the UAE. Whether you are an Emirati or an expatriate woman, if you have the determination, vision and ambition, your recognition and advancement will depend on your skills. You will also receive extensive support from both the government and various business organizations to pave your way to success.
Sharjah Research Technology and Innovation Park (SRTIP) is among the free zones that actively support the advancement of women through tailor-made business start-up packages in the UAE. To explore these packages and choose the most suitable one, you can seek advice from the UAE SRTIP’s business advisors. For more information on the licensing packages designed exclusively for women entrepreneurs, you can contact us at +971507455315.