Retail Insight
and Women’s Angel Investment Network, which offers mentorship and angel investment to women entrepreneurs. As per PwC’s survey titled ‘Family businesses at the forefront of Middle East’s growth’ over the last two decades, the role of women in family firms has undergone a paradigm shift. Raised standards of education coupled with improved economic conditions and financial opportunities have resulted in women contributing significantly towards the growth and success of family businesses.
THE WAY FORWARD:
Higher education, the research suggests, is associated with greater business success. About 57% of women entrepreneurs have degrees or have completed postgraduate education, and only 3% have succeeded in business without a college education. Being a woman entrepreneur in the Middle East is still tough. Starting a new business demands a large amount of time and attention. As women have maintained the traditional role of caring for their own children, the support of family members (sisters, mother, etc.) remains an essential support element for an entrepreneur to meet the demands of both job and children. Women entrepreneurs in the
UAE need guidance to further develop their businesses, according to Muna Al Gurg, director of retail at the Easa Saleh Al Gurg Group. “One of the most crucial things that female entrepreneurs need to do is find a mentor — that really helps a lot,” Muna said. “I think they reach a point where they don’t know how to grow and be high impact. By high impact, I mean you take your business to another level, so your revenue is much higher. “Start-up and entrepreneurial ideas are growing in this region. There are a lot of platforms that entrepreneurs can go to, I think they just need to explore these platforms,” she said. Mentors: some of these include Impact Hub Dubai
With the surge in opportunities offered by the retail sector will drive more Middle East women to explore opportunities. Women entrepreneurship is an important source of rapid economic growth today. Women entrepreneurs are not only starting business ventures but also creating new jobs for others, providing society with employment and growth opportunities. At an entrepreneurial program launched in collaboration with Dubai Business Women Council (DBWC) and MasterCard, Micheal Miebach, President of MasterCard Middle East and Africa region says, “Women in UAE are playing an increasingly important role in driving the economy, and we remain committed to helping them realize their business vision.” Thus, explaining the importance of entrepreneurial ventures for women in Gulf region. Women are the key to a prosperous future, as they account for a major proportion of Gulf’s population. retail people | 27