Female entrepreneurs hold immense promise but they often face significant hurdles in accessing opportunities and funding. Despite notable progress, disparities persist, particularly in the realm of funding and access to capital. Female founders receive only a minuscule fraction of the investment capital dedicated to male entrepreneurs, hindering their ability to innovate, scale, and fully contribute to the UAE business ecosystem.
In recognition of the importance of entrepreneurship and small businesses, the UAE government has been tirelessly working to create an environment that supports and promotes entrepreneurial endeavors. Initiatives such as the Entrepreneurial Nation program, aimed at developing more than 8,000 SMEs and start-ups, and the Future 100, designed to connect UAE entrepreneurs with investors and mentors, are just a few examples of these efforts.
However, despite these commendable initiatives, women entrepreneurs are disproportionately underrepresented in many of these programs. This raises the question: Why are women entrepreneurs’ representation low in these programs?
Arabian Business recently gathered female business leaders to discuss the challenges of forging paths in male-dominated industries. It was evident that female aspiring entrepreneurs often grapple with limiting belief systems that hinder their progress. Beliefs such as “Having a family will constrain my business success” or “I have to work twice as hard to affirm my leadership” create self-imposed barriers. Overcoming these beliefs and recognizing that having a seat at the table is a right earned through showing up can help break through the imposter syndrome that holds many back.
Statistics reveal that in the UAE, women are more than two-thirds less likely than men to start an early-stage business. This stark disparity is reflected in the Global Entrepreneurship Monitor report, which states that only 3 percent of women, compared to 9.6 percent of men, engage in entrepreneurial activities. Furthermore, according to Wanda Digital Digest, capital raised by female-founded start-ups in the MENA region represented a mere 1.3 percent of the total $4 billion raised in 2022.
In the fast-paced venture capital world, where finding unicorns is the primary focus, resources dedicated to the longer-term growth of young female entrepreneurs are limited. Long-term, affordable, or “no-equity” approaches to enabling opportunities for sustainable organic growth receive insufficient attention.
The responsibility falls upon us to show up and change the narrative for the next generation. We have an unprecedented opportunity right now to make a difference. With just an idea, unwavering drive, and determination, we can start. We can achieve this kind of freedom.
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