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UAE businesswomen call for government support
The biggest challenge for Emirati female entre-preneurs is access to capital, a study conducted by Dubai Women's College found.
- By Nadia Saleem, Staff Reporter
- Published: 00:38 May 16, 2008
Dubai: The biggest challenge for Emirati female entre-preneurs is access to capital, a study conducted by Dubai Women's College found.
Forty-five per cent of the women surveyed for the report said the government should create a special fund or set up loan guarantee schemes to address the issue of inadequate financing.
The study, carried out in association with the Dubai Business Women Council (DBWC), a subsidiary of the Dubai Chamber of Commerce and Industry (DCCI), focused on the UAE, Bahrain, Jordan, Lebanon and Tunisia.
Obstacles
Regarding other obstacles for women entrepreneurs, 37 per cent of the respondents said registering a business is a costly process. Thirty-two per cent called for the development of a special government body for women's business development issues.
Thirty-five per cent sought a change in employment laws to make it easier to hire and manage staff in women-owned businesses.
Raja Easa Al Gurg, president of DBWC said that 44 per cent of businesses controlled by women in the UAE are small and only two per cent are medium-sized.
She said the council is focused on helping businesses to expand. Two new initiatives have been launch-ed in the UAE to encourage business women to invest in funds that are run by well-known banks and established investors. She cited the examples of Forsa and Enmaa investment funds.
"I hope to gather all business women under one umbrella. It will help women to see there are people in this society who will support and encourage small businesses to expand," Al Gurg told Gulf News.
The survey's findings revealed that 89 per cent of the women have an optimistic outlook on the economy and for their businesses. Seventy-three per cent are planning for expansion and want to access new markets.
According to recent statistics, investments made by women in the Gulf region have reached Dh42 billion. This investment constitutes approximately 12 per cent of total current deposits in Gulf banks, while 20 per cent of mutual fund investments are from women.
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