(MENAFN- Khaleej Times) With a thriving, fast-paced economy that is constantly changing, the UAE is becoming the destination for start-ups and various new businesses. The buzz and luxurious high life of Dubai have always been an attractive proposition for all. Add to that, new government initiatives for supporting women entrepreneurs, respect and receptiveness towards women, encouraging certain sectors with aids and the overall upgrade in growth markets are intoxicating. Every smart, intelligent and creative woman must want to take advantage of the positive environment that is being created.
The UAE was ranked third on the inaugural 2015 Islamic Growth Markets Investments Index, which ranks countries'' investment potential relative to other members within the Organisation of Islamic Cooperation. According to an article published on the UAE embassy website: "Emirati women account for 71.6 per cent of students in government tertiary level institutions and for 50.1 per cent of students in private higher education. The 2007 United Nations Development Program status report on Millennium Development Goals recognised the positive outcome of the UAE''s target-oriented policies in a number of areas, including women''s empowerment. It particularly noted that state legislations in the UAE do not discriminate on the basis of gender with respect to education, employment or the quality of services provided." Government support for SMEs nurtures the growth of female entrepreneurship in the UAE. The Ro''Ya initiative, for example, run by MasterCard and the Dubai Business Women Council (DBWC) invited business owners to present their proposals before a panel of judges, with the chance of receiving a year-long mentorship programme with networking opportunities and support for start-ups. In Abu Dhabi, the Women''s Association (AD-WA) is concerned with women''s employment in two ways. Firstly, it operates an employment exchange to assist women to find employment. Sometimes, training is organised for the women to prepare them to meet the job profile. Access to capital Secondly, many young women with interesting ideas who wish to start a business are constrained by a lack of capital (e.g. to rent a shop, to secure a trade licence and to recruit and pay employees) and are risk averse. The AD-WA tries to assist UAE women entrepreneurs in three ways: (i) marketing exhibitions, (ii) provision of training and similar services through networking, and (iii) lobbying, alone and together with other organisations, on behalf of women engaged in business. The Sharjah branch of the Emirates Business Women Council (EBWC) sees its role as promoting UAE women entrepreneurs, especially in training and similar business development services. The Council''s preliminary analysis suggests that emphasis needs to be placed on raising awareness among women about the various possibilities of going into business. In general, women are especially wary of taking loans, although lack of capital is one of the main constraints for women seeking to open a business. The Sharjah EBWC also feels that it is necessary to make available special, if possible free, trade licences for women entrepreneurs in certain creative fields. Another reason women hesitate to pursue entrepreneurship is the fear of not having enough time for themselves or families. The biggest challenge is balancing a business and running the household. For example, in my case, my home is my office, which makes it that much tougher to get work done when the kids are home. Then again, there is proof of women who have mastered the art of multi-tasking and handling all the needs of office set up, as well as home, under the same roof! Emiratis are always open to and respect women in business. In fact, owing to the good education and family value system, Arab women are empowered and they utilise their learning judiciously. Their involvement has been meaningful in every sector of their household, as well as spouse''s or family businesses. It is important for them to explore new opportunities and get reintegrated into the skilled labour force by making use of the new policies and aids provided by the government. Understanding cultures Our research indicates that while there is an open environment for women to establish themselves and thrive as entrepreneurs in Dubai, there are two cultures they must understand and confront. One is local, highly traditional and family-oriented. The other is more inclined towards the expatriate population and more in tune with the Western concepts of individualism and diverse work culture. By understanding both types of potential clients, an entrepreneur can accomplish the desired place in the business environment. Adaptability, tolerance, open-mindedness, strong communication skills and a good understanding of different cultures lead to a receptiveness of what clients need. These qualities are almost innate in women, they just need to put these traits into use to achieve their goals. The author is an entrepreneur and financial planning consultant. Views expressed are her own and do not reflect the newspaper''s policy.
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