UAE Business Development: 25,000 Emirati Women Are Now Running Businesses Worth Of $16.3 Billion

The business sector is booming in the UAE, especially in Dubai. More and more women are taking the plunge to set up their very own businesses in Dubai. These include a varied palette from food and beverage outlets to consultancies and retail stores.

The entire business industry of luxury flats for sale in Dubai is developing at a rapid pace these days, and the real estate sector seems to be shining the most. Despite various hardships that the whole world has been seeing lately, in which there are a lot of crises that are overwhelming the globe, Dubai seems to manage to keep things going strong on the path of success.

The real estate industry drives Dubai toward the path of ultimate success

The Dubai real estate market is rapidly expanding, and this is quite a big deal. It's a really important matter especially if we take a moment to consider the fact that the world is in the middle of a vast crisis these days.

Foreign buyers have been able to make the best out of these opportunities, and they see the excellent investing environment that Dubai has to offer.

There are a lot of advantages to investing in Dubai, and the most important ones include the following:

·       There is no income tax for individuals

·       Here, we have a really favorable tax environment

·       People can enjoy a return on investment at 6-9%

·       There is also the possibility of obtaining an investors VISA for 3,5 and 10 years

·       The minimum investment threshold constitutes only AED 750,000 (USD 205,000)

One important thing that is worth mentioning is that the government of Dubai continues to build and develop new strategies to attract more international investors.

There is also an enormous benefit that is loved by crypto enthusiasts – the possibility of buying items with digital assets. This is extremely important because, in 2022, crypto has become synonymous with financial freedom. This is really important, especially in the world in which we are living today.

With the help of crypto, real estate related-transactions are now more transparent, and visa issuance will also become more flexible, covering more than ten types of entry visas. Just in case you didn’t know, there is a visa reform in Dubai that was approved by the UAE Cabinet of Ministers back in April 2022, and it should come into force this month.

The UAE has become the best place for both investment and permanent residences. The nation has already taken the first position in essential factors such as housing, bureaucracy, professional prospects, digital life, healthcare, language, security, job satisfaction, labor protection, leisure, and so on.

25,000 Emirati women are running massive businesses in the UAE

Women all around the UAE are playing a top role in driving the local economy, and it’s also important to note the fact that the number of female entrepreneurs has been doubling in about a decade, and this is very exciting to note.

According to the official notes starting with 2021, there have been about 25,000 Emirati women who own 50,000 trade licenses that are reportedly valued at 60 billion UAE dirhams ($16.3 billion).

It’s also worth noting the fact that the number of women who chose to become entrepreneurs has more than doubled from just 11,000 in 2020. The same number jumped by more than 8% compared to 2019.

It’s also really exciting the fact that the value of women-owned businesses also expanded significantly. This went straight from 12 billion UAE dirhams in 2020. 

These are some of the numbers that have been highlighted in a report published by NAMA Women Advancement in partnership with The Economic Empowerment Section of the UN Women. 

The report talked about the realities and prospects of Emirati women’s contributions to the UAE’s “comprehensive development, enhancing the sustainability of economic sectors and diversifying sources of national income”.

One other element that we really have to mention is the fact that Among the businesses run by Emirati women, 77% are led by those under the age of 40. The data is according to a survey that was conducted by NAMA as part of the report.

The survey included 1,000 female business owners. Among the women who have been polled, 48.8% are CEOs, and 61.4% are sole proprietors. This, NAMA said, indicates that women are “making significant contributions to the GDP in emerging economic sectors.”

The survey concluded the fact that a small percentage of female entrepreneurs (13%) are co-owners, with more than 51% of shares. The data noted that 25% are business leaders with less than 51% of shares.

It’s also worthwhile noting the fact that around 72% of the women-owned businesses are micro-enterprises, and 24% are small enterprises. Also, 3% are medium enterprises.

The very same survey stated the fact that female entrepreneurs are really confident in their growth plans. The notes also stated that there is a high importance on securing financing businesses.

The experts also made sure to highlight that there is a massively growing importance of engaging women in organizations that are able to offer comprehensive support for entrepreneurs. This is made via networking, trading, and advisory services as well.

And last, but definitely not least, it is really important to note the fact that the women who took part in the survey also talked about the massive need for training and capacity-building in business skills. These include the following: commerce and digital marketing skills and financial accounting. It also turns out the fact that financial accounting and management tools are really essential as well, and so is the airing of knowledge on making proposals in response to tenders and bids.

Dubai sees a massive drive to empower women entrepreneurs

According to the latest reports, a lot of women who own businesses in Dubai are doing great, but they could be doing better and enjoying more success by supporting each other. Experts believe that there should be more organizations for women entrepreneurs. This would definitely bring a positive impact on the business sector for women. It's always easy to say that every business is very challenging, but at the same time, this gives you lots of happiness when you can see your very own success in whatever it is that you are doing.

Not only the female entrepreneur are the ones who are pushing the envelope in Dubai. For instance, according to the latest reports coming from Euro News, Dr. Saeeda Jaffar is the SVP & Group Country Manager for Visa in the GCC region. An Emirati national with over 20 years of experience in the region, she told Euronews there are few places in the world that are as welcoming and as openly inclusive.

"Women in the workforce is not only something that's promoted, but it's something that is very much expected."

She offered a bit of advice for succeeding in traditionally male-dominated industries.

"Focus on what you do enjoy and then the rest comes. And if that's how you go about it, I think it matters much less, whether it's a traditionally male-dominated world or not. That being said, I think it always helps to have role models, and it always helps to have other people around you who have perhaps gone through a similar path and seen similar things. I know certainly at Visa we do a lot of that."

Team up with a top-notch business that helps you thrive

It's really important that you have a great partner in crime in any industry that you are a part of. For instance, in the real estate industry, one of the best brokerages out there is Starling Properties.

Starling Properties is a new and innovative real estate brokerage in Dubai and the surrounding areas. The firm is specializing in luxury properties. The company flaunts a team of experienced professionals who is committed to providing our clients with the highest level of customer service tailored to their individual needs.

Their team of experts understands your unique requirements and strive to meet them with the utmost care and attention. The team is composed of experienced real estate professionals, each with a unique set of skills and knowledge, providing our clients with the best possible advice and services. The pros and Starling Properties have an extensive portfolio of luxury properties, including apartments, villas, and commercial spaces.

The dedicated team of agents is knowledgeable about the local real estate market, and they are committed to providing their clients with the best possible service. They strive to ensure that your experience is as effortless and stress-free as possible. The firm is proud to be a trusted partner for those seeking to invest in luxury real estate in Dubai and the surrounding areas.

The Starling Properties team boasts 15 highly-proficient brokers who pride themselves on having vast and comprehensive knowledge of Dubai's real estate market. Unmatched professionalism and expertise are what make this dedicated team of professionals second to none.

Exquisite customer service, integrity, and unrivaled professionalism are what make StarlingProperties a cut above the rest. The firm takes pride in our sheer dedication and commitment to serving our clients with nothing but the best Dubai real estate has to offer.

The importance of Dubai business women's council

The Dubai Business Women Council (DBWC) has been established in 2002 under the umbrella of the Dubai Chamber of Commerce. The entity has dedicated its massive efforts to enhancing gender parity in society. It has also encouraged women to play a more active role in building the country and stimulating sustainable development.

At the heart of DBWC's mission is offering education, training, and networking opportunities to aid in achieving holistic development and meeting the career aspirations of UAE-based businesswomen. Besides all this, the entity also aims at inspiring and encouraging women to play an important role in the economy. The organization's tailored workshops and seminars are being hosted exclusively for the members, and they provide critical info and data regarding the latest knowledge, skills, and best practices for women entrepreneurs and leaders as well. Membership is currently open to employed businesswomen who live in Dubai, across the whole UAE, and also within the region.

The organization's objectives include the following, according to the official website:

·       Representing and promoting DBWC in local and international conferences and forums.

·       Strengthening the bonds between business and professional women in Dubai

·       Identifying important issues, offering info and data, encouraging leadership, and advocating responsible action

·       Addressing the well-being of women as entrepreneurs and in the workforce

·       Building a superior networking platform for women to expand and improve opportunities for growth through the exchange of knowledge and expertise

·       Serving as a catalyst for positive action through Collective Community Advocacy

Conclusion

Women empowerment is a move that is growing stronger all over the world, and the UAE, especially Dubai, is no exception, as you can see for yourselves. Women are getting more and more successful in all kinds of industries, including real estate. This industry is growing at a rapid pace in Dubai, Abu Dhabi, and the whole UAE, as we already stated.