NAMA報告：阿拉伯聯(lián)合酋長國婦女擁有的企業(yè)

WOMEN-OWNED

BUSINESSESINTHE

UNITEDARABEMIRATES:

AGOLDENOPPORTUNITY

UNITEDARABEMIRATES,

NOVEMBER2022

?2022UNWomen.Allrightsreserved.

ProducedbytheUNWomenLiaisonOfficefortheGCC

Theviewsexpressedinthispublicationarethoseoftheauthor(s)and

donotnecessarilyrepresenttheviewsoftheUnitedNationsEntity

forGenderEqualityandtheEmpowermentofWomen(UNWomen),

theUnitedNationsoranyofitsaffiliatedorganizations.

NAMAWomenAdvancementprovidedfinancialsupportfor

UNWomen’sflagshipprogrammeStimulatingEqualOpportunitiesfor

WomenEntrepreneurs.Thisreportisproducedundertheauspicesof

thatprogramme.Itscontentsaresolelytheauthors’responsibilityand

donotnecessarilyreflecttheviewsofNAMAWomenAdvancement.

Suggestedcitation:UNWomen.2022.Women-OwnedBusinessesin

TheUnitedArabEmirates:AGoldenOpportunity.UNWomenUAE

LiaisonOfficefortheGCC.

Authors:Dr.MayaRmeityandHibaElJardali

Editor:AndyQuan

Designandgraphics:DesignPlusd.o.o.

Coverphoto:Agroupofbusinessownersgatheringduringanetworking

eventinDubai,September2021.Photo:?UNWomen/IanHardie

WOMEN-OWNEDBUSINESSESINTHEUNITEDARABEMIRATES:AGOLDENOPPORTUNITY

ECONOMICEMPOWERMENTSECTION

UNWOMEN

UnitedArabEmirates,

August2022

ACKNOWLEDGEMENTSTABLEOFCONTENTS

ThispublicationwasledbytheUNWomenUAELiaisonOfficefortheGCCaspartofthe

UNWomenStimulatingEqualOpportunitiesforWomenEntrepreneursFlagshipProgramme,

supportedbyNAMAWomenAdvancement.

UNWomenwouldliketothankDrMayaRmeity,leadauthor,andHibaElJardali,whocoordinatedthepublication

andprovidedsubstantiveinputs.WewouldalsoliketothankDrMouzaAlShehhiforheroverallleadershipinthe

UAE,andAnnaGollubatUNWomenheadquartersforhersupportandfeedback.

ThestudywouldnothavebeenpossiblewithoutthecontributionofwomenbusinessownersintheUAEwho

participatedinthesurvey,andthosewhoactivelyengagedintheinterviewsandfocusgroupdiscussions.

Weacknowledgetheircontribution,withgratitude.Additionally,thisresearchbenefitedfromvaluablefeedback

fromandcollaborationwithpartnersincludingtheGeneralWomen’sUnion,SharjahBusinessWomenCouncil

andotherpartnersingovernment,businessandcivilsociety.

Wethankeveryoneinvolvedfortheircontributionstothisimportantresearch.

ACRONYMS

6

FOREWORD

7

EXECUTIVESUMMARY

9

Background

9

Synopsis

9

Mainfindings

11

1THECONTEXTFORFEMALE

ENTREPRENEURSHIPINTHEUAE

13

Anurturingecosystemforentrepreneurship

andinnovation

13

Women-ownedbusinessesintheUAE:opportunities,challengesandneeds

19

2WOB’SACCESSTOFINANCE

25

Regionallandscape

25

ContextoftheUAE

27

GlobalbestpracticesforfinancingWOBs

37

3RECOMMENDATIONS

39

REFERENCES

43

APPENDICES45

Appendix1–U.A.E.federalSMELawNo.2of201445

Appendix2–UAE-basedentrepreneurship

andinnovationcentres48

Appendix3–SMEfundinginitiatives49

Appendix4–GlobalbestpracticesforWOBfinancing51

Appendix5–SummaryofWOB’smainchallenges

inaccessingbankloansintheUAE54

ACRONYMSFOREWORD

ADGMAbuDhabiGlobalMarket

ADBWC

DBWC

DIFC

DMCC

GEM

GCC

GPFI

IFC

KYC

MENA

MSMEs

NAMA

OECD

PWC

RAKEZ

SDGs

SHAMS

SHERAA

SMEs

SRTIP

UAE

VC

WAIN

WEF

WEFI

WOB

AbuDhabiBusinesswomenCouncil

DubaiBusinesswomenCouncil

DubaiInternationalFinancialCentre

DubaiMultiCommoditiesCentre

GlobalEntrepreneurshipMonitor

GulfCooperationCouncil

GlobalPartnershipforFinancialInclusion

InternationalFinanceCorporation

KnowYourCustomer

MiddleEastandNorthAfrica

Micro,SmallandMediumEnterprises

NAMAWomenAdvancement

OrganisationforEconomicCo-operationandDevelopment

PricewaterhouseCoopers

RasAlKhaimahEconomicFreezone

SustainableDevelopmentGoals

SharjahMediaCity

SharjahEntrepreneurshipCenter

SmallandMediumEnterprises

SharjahResearchTechnologyandInnovationPark

UnitedArabEmirates

VentureCapital

WomenAngelInvestorsNetwork

WorldEconomicForum

WomenEntrepreneursFinanceInitiative

Women-ownedbusinessorwomen-ownedbusinesses

STIMULATINGEQUALOPPORTUNITIESFORWOMENENTREPRENEURS

UNWomen,throughtheFlagshipProgrammeInitiative(FPI)StimulatingEqualOpportunitiesforWomenEntrepreneurs,seekstoachieveatransformativeimpactongenderequalityandwomen’seconomicempowermenttocontributetothe2030AgendaforSustainableDevelopmentandtheachievementofitsSustainableDevelopmentGoals(SDGs).UNWomenhaspartneredwithNAMAWomenAdvancement(hereafterNAMA)toimplementthisprogrammeintheUnitedArabEmirates(UAE)andSouthAfrica.

Theprogrammedeliversondifferenttargetsofthe17SDGs,especiallyonSDG5ongenderequalityandSDG8onpromotingfullandproductiveemploymentanddecentworkforall.

Target8.3

“Promotedevelopment-orientedpoliciesthatsupportproductiveactivities,decentjobcreation,entrepreneurship,creativityandinnovation,andencouragetheformalizationandgrowthofmicro,smallandmedium-sizedenterprises,includingthroughaccesstofinancialservices”

TheFPIaimstobeasinclusiveaspossibleandcreateopportunitiesforwomenacrosstheentirespectrum,fromayoungwomanorawomanworkingintheinformaleconomywiththeambitiontogainthenecessaryskillstojointhelabourmarkettomoreestablishedandcertifiedwomen-ownedbusinesseswiththecapacitytoproduceatscaleandforinternationaltrade.Itseekstostimulatethedemandforwomenentrepreneurs’productsandservicesbypromotinggender-responsivepublicandprivateprocurement,andtopromotewomenentrepreneurs’accesstoentrepreneurialskillsandfinanceopportunitiessothattheycanbenefitfromglobalvaluechains.

Atthegloballevel,thisprogrammewillbringtogetherknowledgewithpolicyadvocacyandtechnicalassistance,andbyleveragingplatformssuchasthe

Women’sEmpowermentPrinciples.

Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

6

Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

7

8

Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

AgroupofbusinessownersgatheringduringanetworkingeventinDubai,September2021.Photo:?UNWomen/IanHardie

EXECUTIVESUMMARY

BACKGROUND

WomenentrepreneurshipintheMiddleEastandNorthAfrica(MENA)regionhasbeenarapidlygrowingphenomenoninthepastfewyears(ZeidanandBahrami,2011).Accordingtotheemergingliterature,womencanmakeasignificantcontributiontoentrepreneurialactivityandeconomicdevelopment(Hechevarríaetal.,2019)intermsofcreatingnewjobsandincreasingthegrossdomesticproduct(GDP)withpositiveimpactsonreducingpovertyandsocialexclusion(Rae,2015).Nevertheless,thepercentageofwomenwhodecidetopursueanentrepreneurialcareerislowerthanthatoftheirmalecounterparts(Elametal.,2019)andthisgapismainlycorrelatedwiththelevelofculturalandfinancialbarrierswomenfaceintheregion(Cardellaetal.,2020).

Theissueisnotonlyregional,sinceglobally,althoughwomen-ownedsmallandmediumenterprises(SMEs)makesignificantcontributionstomorethan30percentoftheworldeconomies(WorldBank,2019),theystillfacearangeoffinancialandnon-financialchallengesinrealizingtheirgrowthpotential.Theyaremorelikelythantheirmalebusinessownerstociteaccesstofinanceasamajordrawbacktotheirbusinessoperations.1

Inrecentyears,policymakers,corporateexecutivesandleadersofphilanthropicorganizationshaveexploredwaystosupportwomenentrepreneurs.Theyallemphasizedtheimportanceofentrepreneurshipcapitalanditspositiveimpactonthenations’economicandsocialprogressononehand,andontheinnovationlevelandtheproductivityoutputontheotherhand.Manygovernmentsarethereforetryingtoactivelypromoteentrepreneurshipthroughvariousformsofgovernmentalandnon-governmentalsupport.

Yet,accordingtothe2019WomenEntrepreneursFinanceInitiative(We-Fi)report,women-ownedbusinesses(WOBs)faceparticularchallengesinobtainingfinance,buildingnetworksandlinkingtohigh-valuemarketsandinvestors.Thisissueisstillprevalenteventhoughstudiesaroundtheworldhaveshownthatwomenaremorelikelytorepaytheirloansthanmen(WorldBankandIFC,2019).

Locally,stimulatingtheemergenceofastrongentrepreneurialculturethroughSMEsisattheheartoftheUnitedArabEmiratesNationalStrategytobecomeacompetitive,knowledge-basedeconomy.Overthepastdecade,thecountryhascommittedtopromotingaconducivegeneralframeworkforenterpriseactivitiesandhasheavilyinvestedinbuildingamorediverseandsustainableeconomywhichrelieslessontheoilsectorandmoreoninnovationandtech-ledSMEs.Thefacilitationofdoingbusinessisspecificallytargetedunderthe‘CompetitiveKnowledgeEconomy’pillaroftheUAEVision2021.Asaresultofthiscommitment,theUAEsteadilyimproveditsDoingBusiness(DB)scorebetween2010(asreportedbyDB20112)and2019(asreportedbyDB2020).

WithintheframeworkoftheUAEVision2021andtherelatedseven-yearNationalAgenda(launchedin2014),andinparticularthe‘CohesiveSocietyandPreservedIdentity’pillar,3theUAEGovernmenthascommittedtothepromotionofgenderparity,aimingtobecomeoneoftheworld’stop25countriesforgenderequalityby2021.Insupportofthegender-relatedobjectives,theUAEhasintroducedaseriesoflegal,policyandinstitutionalmeasuresoverthepastdecade,includingthesimplificationofaccesstofinance.

1SeeInternationalFinanceCorporation.“Entrepreneurship”

2WorldBankDoingBusinessReport.

3TheUAEVision2021andNationalAgendaarestructuredaroundsixpillars:(i)SustainableEnvironmentandInfrastructure;(ii)World-ClassHealthcare;(iii)First-RateEducationSystem;(iv)CompetitiveKnowledgeEconomy;(v)SafePublicandFairJudiciary;and(vi)CohesiveSocietyandPreservedIdentity.Seefurtherwww.vision2021.ae.

9

AGoldenOpportunity

Women-OwnedBusinessesinTheUnitedArabEmirates:

8AED1wasequivalenttoUS$0.27asof1May2022.

9ZAYWA,“PearlQuestbySBWCofferssevenaspiringwomenentrepreneursachancetowinfundingfortheirstart-ups”,6February2022.

10Emirates24/7,“UAEwomenshowtheirprofessionalprowess”,2June2010.

11EmbassyoftheUnitedArabEmirates,Washington,DC,“WomenintheUAE”;EmiratesNewsAgency,“Stratasponsors‘GenderHub’ofjointUAE-UNIDOExhibition”,1November2019.

SYNOPSIS

Inthisreport,UNWomenhasconductedacomprehensiveinvestigationonthelandscapeofaccesstofinanceofferedtoSMEsandwomen-ownedbusinesses,inparticularintheUnitedArabEmirates,concludingwithsuggestionsfortailoredinterventionsthatwouldimprovetheiraccesstofinance.

The‘diagnostic’4researchdesignwasusedintwomainreports.Thefirstreportentitled“Women-ownedbusinessesintheUAE:readytothrive,strongtoresist”,fullydetailedthedatacollectionmethodsadopted(e.g.a43-questionsurvey,5interviewsandfocusgroupdiscussions)aswellasthefindingsoftheinsightfulstudyonthemainchallengesfacingWOBsandtheirunderlyingcauses.AbriefsummaryisgiveninChapter1-thefemaleentrepreneurshiplandscapeintheUAE.

Inthissecondreport,thestudywascarriedoutbyfirstadeskreviewofdocumentaryofficialsources6(reviewingthevariousgovernmentandrelevantstakeholderinitiativeswithregardstotheimprovementoffemaleentrepreneurs’accesstofinancialsupport),aswellasconsultationswithrelevantstakeholdersforthegenerationofprimaryevidence:(i)10semi-structuredinterviewswithwomenbusinessowners,(ii)severalmeetingswithfinancialinstitutions,7governmentagencies,andwomenbusinessnetworks,(iii)andthreefocusgroupdiscussionstoanalysewomen’slivedexperiences,challenges,aspirationsandneeds.

Meetingwithotherentrepreneurialecosystemstakeholderssuchasfinancialinstitutions,commercialbanksandgovernmentagenciesallowedtheresearchertotriangulatethedatasourcesandensurethecredibilityandvalidityoftheresearchfindings.

Paneldiscussion,“ThePowerofMentoringforWomenrepreneurs”,atExpo2020Dubai,November2021.

Photo:?UNWomen/Corne-AnnLubbe.

MAINFINDINGS

ThestudypointstothesignificantprogresstheUnitedArabEmirateshasachievedintermsoffosteringagender-sensitiveregulatoryframeworkbyendorsingaseriesoflegal,policyandinstitutionalmeasures,whichprohibitanykindofdiscriminationbasedongenderinemployment,economicparticipationandinaccesstocreditorloans.

Indeed,thenumberoffemaleentrepreneursisrisingsignificantly:25,000Emiratiwomenentrepreneursowning50,000tradelicencesvaluedatAED860billionin20219asreportedbyH.E.AbdallaSultanMohammedAlOwais,ChairmanoftheSharjahChamberofCommerceandIndustry(SCCI)comparedto11,000EmiratibusinesswomenrunningbusinessesworthAED12billionin201010asreportedbyH.E.RajaaAlGurg,ChairmanofDubaiBusinesswomenCounciland23,000EmiratiwomenrunningbusinessesworthAED50billionin2019.11

However,genderdisparitiesinentrepreneurshipcontinuetobeseenacrossdifferentsectors.Researchshowsthatdespiteeconomicdevelopmentandsignificantprogressinfemaleempowermentintheregion,womenhavealwaysdisproportionallybeenaffectedbyinequalitiesrangingfromculturalnormsandsocialstereotypes(NaguibandJamali,2015)toinsufficientsupportofferedtowomen-ledventures,lackofpolicyframeworksaddressingthegendergapandthechallengeofbalancingfamilyresponsibilitieswithworkresponsibilities(Wamda,2019).

Todate,theUAEfinancialsectorlacksacustomizedapproachandspecificlendingpoliciestargetingwomen.Thiswouldnegativelyinfluencewomenentrepreneurs’appetitetogetloansoradditionalcapitalinjection.Currently,commercialbanksoffergenericproductsandservices,whicharenotsuitableforthetypesofbusinesseswomenaretypicallyrunning(microandsmallenterprises,orstart-ups).

Indeed,thelackofreliablegender-disaggregateddatalimitswomen’sopportunitiestopresentabusinesscaseforfinancialinstitutionsandinvestors(IFC,2019).Commercialbanksandinvestorsneedtohaveabetterunderstandingoftheexistingmarketpotentialaswellastheconstraintsfacingwomen-ownedSMEsataterritorialandregionalleveltodesignstrategiesandserviceofferingstomeetthefinancingneedsofthosewomenentrepreneurs.

Toputforwardsolutions,asetofrecommendationsforthisreportwasdeveloped,invitingallstakeholderstotakeaction:governments,lendingandfinancialinstitutionsandwomenbusinessassociations.Itishopedthatpolicymakersandotherstakeholderswillfindmuchvalueinthisstudyinchartinggender-sensitivestrategiesandpracticesthatwouldpotentiallyincreaseWOB’saccesstofinanceopportunities,therebyallowingthemtodriveeconomicgrowthintheUAE.

4Theresearchfollowedamixedmethodologyapproachaimingatreportingonthreemainareas:(i)thefemaleentrepreneurshipcontextintheUAE(businesssize,capacities,challengesandbarriers);(ii)theimpactoftheCOVID-19pandemicontheirbusinesses;and(iii)theaccesstofinanceforwomenentrepreneurs.

5Thedatacollectedfromthesurveycoveredtheresponsesof1,028femaleentrepreneursatdifferentstagesoftheirentrepreneurialjourneyfromalloverthesevenemirates.

6Includinggovernment’slegislativeframeworksandpolicydeclarations,localbanks’publishedreports,financialinstitutions’websites,pressreleases,incubators’publicationsandwhitepapers.

7Includinginformalphonecallsandinterviewswiththreeinternationalbanks,fivelocalbanks,onefintechcrowdfundingplatform,onehealthcare-focusedprivateequityfirmandoneventurecapitalist.

Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

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Women-OwnedBusinessesinTheUnitedArabEmirates:

AGoldenOpportunity

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Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

1.THECONTEXTFORFEMALEENTREPRENEURSHIPINTHEUAE

Numerousstudieshaveshownthatentrepreneursaremorelikelytothriveinenvironmentscapableofnurturinginnovationandopportunity,furnishingahealthymixofinstitutions,regulatoryregimes,infrastructure,venturecapitalandmarketopportunities(WEF,2016).Truly,buildingafemaleentrepreneurialnationisnotaquickprocess.Aninclusiveentrepreneurialcultureneedstobeconditioned,andanentrepreneurialecosystemneedstobenurturedtoinfluencethespeedandabilityoffemaleentrepreneurstocreateandscalenewventuresinasustainableway(Tlaiss,2014;WEF,2014).

ANURTURINGECOSYSTEMFORENTREPRENEURSHIPANDINNOVATION

TheentrepreneurialecosystemintheUAEisrelativelystrongcomparedtotheregion,asessentialingredientsforbuildingathrivingentrepreneurialecosystemarealreadyinplace.TheUAEwasrankedtopintheworldinthe2021/2022GlobalEntrepreneurshipMentorship(GEM)reportintermsofcountriesthatallowforbettereaseofdoingbusiness,aheadofboththeNetherlandsandFinland12.Inthe2019GEMreport,theUAEstronglyoutperformsboththeaverageGEMindexoftheMiddleEastandNorthAfrica(MENA)regionandisnotedasaninnovation-driveneconomyonmostaspectsoftheindices,thankstochangesinculturalandsocialnormsandincrementalimprovementsingovernmentpoliciesandprogrammes.Yet,manyotherelementsneedfurtherattention,suchasfinancingforentrepreneurs,entrepreneurshipeducationinandpost-school,physicalinfrastructure,internalmarketdynamics,andcommercialandlegalinfrastructure

(GEM,2019).

TheUAEVisionandInnovationStrategyof2021aimsatpositioningtheUAEamongthemostinnovativenationsandoneofthemostattractiveglobalstart-uphubs,byprovidingextensivegovernmentsupporttomicro,smallandmediumenterprises(MSMEs),asafelivingenvironment,adynamicbusinessculture,astrongstart-upcommunityandrelativelylowtaxes(EntrepreneurME,2018).

Thethreeemirates—AbuDhabi,DubaiandSharjah—aspiretobuildasustainableeconomybyfosteringyouthentrepreneurshipandemergingtech-ledindustries,enhancingcompetitivenessandimprovingbusinessopportunitiestoMSMEs(NationalEconomicRegister,2020).Hence,asteadyincreaseinnewregisteredbusinessesinthethreeemiratesisshownbetween2018to2020.ToassistSMEs,UAEpolicymakershaveprimarilyfocusedoncultivatingahealthyrisk-takingculture,improvingaccesstofinance,designingsupportinginitiativesandimplementingbetterregulationsenablingSMEstoscaleupandaccessmarketopportunities.

12DunyaHassanein.2022.“UAErankedworld’smostsupportiveentrepreneurshipenvironment:GEMReport.”Wamda.11February.

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Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

TheUAEhasalsotakenvariouspracticalandlegalstepstosimplifytheprocessandrequirementsofobtainingalicencetoconductbusinessinandfromtheUAEbyallowingafreezoneslicence(whereco-spacesareallowed).Virtualcommerciallicences,offeredbyDubaiVirtualCommercialCity,forinstance,werelaunchedtoconductbusinessinlimitedsectorssuchascomputerprogramming,consultancy,designactivities,printingandadvertising.Remarkably,theSMEsectorhasrisenfrom200,000registeredenterprisesin2013toanestimatednumberof350,000,13representing95percentofthetotalnumberofregisteredbusinessesintheUAE(MinistryofEconomy,2013–2019).EnhancementofthelegalandregulatoryframeworkaswellasfavourablegovernmentpoliciesandinitiativeshavenodoubtbeenthemaindriversfortheboomingSMEsector.However,WOBsaccountforonly6.57percentofSMEsectoractivity14(UAEGovernmentportal,2019).Thelowrepresentationsuggeststhatfemaleentrepreneurs

arealwaysdrivenbyopportunitymorethantheneedforrewardingemployment.Critically,themajorityofwomen’sentrepreneurialactivitywasfoundinsocialimpactormicroandinformalactivity:

“Emiratiwomen’sintentionsforlaunchingandmanagingnewbusinessesmaydifferfromthoseofmen.Insteadofwomenperceivingbusinessasaneconomicentitydesignedtoachieveprofitthrougheconomicadvantage,womenmayperceivetheirbusinessesascooperativenetworksofrelationshipsinwhichbusinessrelationshipsareintegratedratherthanseparatedfromfamily,societal,andpersonalfactors.Thisleadstodifferentapproachestoventurecreationandbusinessgrowthexpectancies.InitiativesaimedatincreasingfemaleparticipationinentrepreneurshiparethusanimportantstrategyforeconomicdevelopmentintheUAE.”

–ElSokarietal.(2013)

Governmentinitiativesforincreasingaccesstoknowledgeandfinance

TheUAEgovernmentisplayingasignificantroleinsettingpolicies,regulatingsocialandeconomicmechanisms,anddrivingbothacademiaandindustrythroughentrepreneurialsupportmechanisms(RangaaandEtzkowitz,2013).

AspartoftheUAE’seffortstogrowtheSMEsector,theUAEgovernmenthassupportednumerousSMEsandstart-upsthroughinitiativesincludingtheestablishmentofsomeinstitutions(government-ledincubatorsandaccelerators),suchastheKhalifaFundforEnterpriseDevelopment(KFED),theSharjahEntrepreneurshipCenter(SHERAA),theSharjahSME(RUWAD),theSheikh

MohamadBinRashidEstablishment(SMEDubai),

StartAD,Ma’anandSaudBinSaqrEstablishmentforYouthEnterpriseDevelopment(RasAlKhaimah),offeringbusinessincubatorsprogrammes,businessworkspacesandsuggestionsforfunding.

Inacademia,theUAEwitnessedagrowingnumberofinitiativestofosterentrepreneurialmindsets,attitudesandskillsacrossalllevelsofeducation.Severaluniversities(MasdarInnovationCenter,AbuDhabiSchoolofManagement,UAEUniversityScienceandInnovationPark,AmericanUniversityofSharjah,

DubaiFutureAcademy,ZayedUniversity,NewYork

UniversityAbuDhabi,HigherCollegeofTechnologies,andSharjahResearchTechnologyandInnovationPark–SRTIP)haveestablishedeconomicandcreative“freezones”,buildinginnovationecosystemsforstudentsoncampusandbeyond.15Nevertheless,entrepreneurshipeducationisstillatarelativelyearlystageintheUAEeducationsystem.Ina2019survey,universitystudentsshowedsignificantinterestinpursuingentrepreneurship.However,theyacknowledgedthattheuniversityenvironmentdoesnotfullyequipthemwiththenecessaryskillsandcapabilitiestostarttheentrepreneurialjourneyrightaftergraduation(BascoandHamdan,2019).

Women-focusedentrepreneurship

initiatives

WomenintheUAEhavelongbeenrecognizedasequalpartnersinnationaldevelopmentandmanyeffortshavebeentakentopursuewomen’sempowermentincultural,socialandeconomicfields(AlKhayaletal.,2020).In2002,theNationalStrategyfortheEmpowermentofEmiratiWomen(NSEEW)advocatedforwomen’spositiveparticipationineightmajorandsignificantfields16.WomenintheUAEhavebeenencouragedandempoweredsincethefoundationofthestate.Thispolicyisspearheadedbythecountry’sleadershipandbackedbytheUAEConstitution,whichguaranteesequalrightsformenandwomen.Womenenjoythesamelegalstatus,accesstoeducation,therighttopractiseprofessionsandtherighttoinheritpropertyasmen.

AfurtherimportantachievementoftheNSEEWwastoattachabusinesswomen’scounciltoeachChamberofCommerceandIndustryinordertosupportwomeninbusiness.Althoughthisdecisionaimedatprovidingadvocacyandpolicysupporttopublicpolicymakers,theworkofthebusinesswomencouncilsisstillevolving,providingoccasionaleducationalassistanceforwomeninvolvedintraditionalactivitieswithlittlemarketlinkageopportunitiesoraccesstofinancialsupport,twokeychallengesforSMEsandWOBs(OECD,2016).Itisworthmentioningthatthebusinesswomencouncilswerethemaindriverfornationalbusinesslegislationencouragingwomen’sgreaterparticipationinentrepreneurshipthroughmicrobusinesses.Emiratiandyoungwomenwereencouragedtothriveandtostarttheirentrepreneurialjourneywithminimalset-uprequirements.Significantwomen-focusedinitiativesforSMEsandhome-basedactivitiesgaveaccesstothousandsofwomenentrepreneurstosetuptheirbusinesses:“Intilaq”launchedbytheDubaiChamberofCommerce,“Badiri”and“Irthi”byNAMAinSharjah,and“Sougha”and“Mubdi’ah”bytheAbu

DhabiBusinesswomenCouncil.

13ArabianBusiness.2020.“UAEbanksgave4.3%moreloanstoSMEsinQ12020.”19May.

14IntheUAE,SMEenterprisesaccountfor92percentofallfirms.UAESMEfirmsaccountfor86percentoftheworkforceandcontributearound60percenttotheGDPgeneratedintheUAEeconomy,accordingtotheUAEMinistryofFinance(ENBD2014Report–DubaiSMEsOverview).

15SeeAppendix2:ListofUAEUniversity-ledEntrepreneurshipIncubators.

16Includingeducation,economy,information,socialwork,health,legislatureandtheenvironment,inadditiontopoliticalandexecutivefields(UnitedArabEmiratesYearbook,2004).

Women-OwnedBusinessesinTheUnitedArabEmirates:AGoldenOpportunity

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Startingin2020,andwiththeCOVID-19pandemicdrasticallyimpactingWOBs,government-ledinitiativesrecognizedtheneedtoimplementfemale-focusedinitiatives:SheMeansBusiness(ajointinitiativebetweentheKhalifaFundforEnterprisesDevelopment(KFED)17andFacebook;theSBWC18-PearlQuestInitiative19inpartnershipwiththePwCAcademyprovidingfemaleentrepreneurswithtraining,mentoringandfundingaswellasaplatformtopitchforexternalinvestment;SheTradesMENA(ajointinitiativebetweenDBWC,DubaiSMEandDubaiDepartmentofEconomic