In February 2021, the world praised the UAE for leading the first space mission to Mars. It was not only in terms of scientific achievements but in terms of gender equality. The team was led by 80% females. Hence, the UAE is creating more opportunities for women to enter the business sector. The government has launched many support programs for women such as freelance licenses UAE, entrepreneurship, women-led businesses, etc. With the help of startup consultants, women are now assisted in company formation. Hence, the future of UAE’s economy is women entrepreneurs.
Women’s Economic Empowerment
The great step taken by the UAE to promote women’s economic empowerment can be seen in the 2021 WBL report. In 2021, UAE scored 82.5 points out of 100 points, as compared to 56 points in 2020. These points were based on Pensions, Entrepreneurship, Workplace, Wages, and Movements.
Key reforms have helped to improve the ranking that made amendments to laws on workplace discrimination, access to credit for a startup, paternity leave, social security, protection, political participation, etc. As a result, women entrepreneurs should start working on their startups in 2022 due to equal opportunities in the economy.
Lucrative Business Opportunities
The wide range of lucrative business opportunities in the UAE has made it easier to choose the right sector for a startup. Even during the pandemic period, the UAE government has been able to sustain the economy due to emerging business sectors. Freelance, e-commerce, telemedicine, online education, digital marketing, information technology, financial technology, and food, grocery, and disinfectant delivery have opened a whole new world for women entrepreneurs in the UAE.
Without spending a fortune, women can start their businesses in any of the industries depending on their expertise or team skills. With the help of business setup consultants in Dubai, UAE, it has been easier for women to learn business formations, government regulations, jurisdictions, etc.
Long-Term Residency Options
The government has launched various reforms to enhance the viability of setting up businesses in the UAE through foreign investments. It includes the Golden Visa. Abu Dhabi and Dubai have already implemented the issuance of a ten-year Golden Visa to eligible individuals such as creatives, scientists, talented professionals, investors, etc.
The Golden Visa is considered a coveted citizenship pathway in the UAE for new investors, innovators, real estate investors, and scientists. This visa is beyond the gender barriers and all qualified women are eligible for the Golden Visa.
Business Setup Opportunities in Free Zones
Women entrepreneurs can find plenty of business start-up opportunities in the UAE Free Zones, which enjoy 100% ownership, full capital repatriation, and more. Setting up a business in the UAE Free Zones allows women entrepreneurs to choose flexible office space options at low operating costs. Apart from this, the permission procedure does not take much time as only minimal approvals are required.
Additionally, the Ras Al Khaimah Economic Zone (RAKEZ) offers the creation of a business package that is exclusively for women entrepreneurs.
Government Support
There is a wide range of opportunities for women entrepreneurs to start their businesses in the UAE. Most of the support programs have been initiated by the government. The Dubai Business Women Council (DBWC) is a government initiative to educate, train, and fund the opportunities to boost UAE-based women entrepreneurs.
The Abu Dhabi Business Women Council (ADBWC), is an innovative integrated business incubator for women that provides guidance, advice, technical support, and funding. Also, the Dubai Women’s Establishment (DWE) works on the sustainable leadership practices of women entrepreneurs.
In Conclusion,
UAE has been one of the top countries to provide ample company formation opportunities and guidance to women entrepreneurs. Free zones and various government agencies have been working on mentorship and business setup services in Dubai. Also, funding programs eradicate the hassle of women entrepreneurs in the UAE. The business networks, coaching opportunities, and financing options have made it easier for women to have their startups in Dubai and the UAE.
