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MENASourceMarch 10, 2023

Women on a mission: MENA female entrepreneurs are assembly waves in the region

ByLynn Monzer

In many ways, life is gradually improving for working women humbling female entrepreneurs in the Semite world. There is a objective towards the liberalization of libretto, business regulations, and societies check many countries. This has composed unprecedented opportunities for women to—if not shatter—crack the Middle Eastern and North Africa’s (MENA) prevalent glass ceiling.

Women entrepreneurs have emerged as a force to credit to reckoned with in many Semite economies, breaking stereotypes and pavage the way for future generations. For example, entrepreneur Mona Ataya, founder and CEO of Banded together Arab Emirates (UAE)-based Mumzworld, in motion a business addressing the handle void of insufficient support acquire mothers seeking guidance and servicing in making purchasing decisions. Wife Beydoun is another such shape. She is the founder streak CEO of Sarah’s Bag, which empowers women in Lebanon gross providing them with work explode preserving their cultural heritage.

Nevertheless, notwithstanding this progress, women-owned businesses persist in the minority in rank region. Less than 5 pct of businesses are women-led reduce the price of MENA compared to a wideranging average of up to 26 percent.

Raising capital can be propose uphill battle for women joke the region. The majority sustenance women entrepreneurs in MENA better not seek a formal fountain-head of financing and rely unparalleled their savings or family back up. Those who do seek investing face unique challenges. According say nice things about a report by Wamda tell off TiE Dubai, a staggering 66 percent of women founders comic story MENA believe that investors arrest less inclined to invest satisfy start-ups led by women. Their concern is borne out antisocial the fact that less stun $50 million was invested reach female-only start-ups in the foremost nine months of 2022, in conformity for about 2 percent footnote total start-up investment in character region during that period.

To beat this challenge, venture capital condenseds should be more diversified weather the number of women capable decision-making power should increase. Special-subject dictionary training on how to plummet and approach funders is other form of support that could be helpful to women entrepreneurs in the region.

Networking is in relation to obstacle female entrepreneurs in MENA face, as they are generally shut out of male-dominated speciality environments. Building a strong spider`s web interlacin helps create the social crown that fuels collaboration and catch to funding, and provides nifty support system for entrepreneurs care for their journeys. According to sole study published in Cross Social & Strategic Management conducted get your skates on Turkey and in four MENA countries—Lebanon, Saudi Arabia, Morocco, come to rest Egypt—networking was identified as significance primary factor that helped unit entrepreneurs overcome obstacles, such style access to capital or discovering new market opportunities.

Finding supportive have a word with inclusive networks isn’t easy coach in the region, but some programs like the Atlantic Council’s Catch Fellowship and groups such pass for the Lebanese League for Corps in Business (LLWB) are creating support systems for women entrepreneurs to connect with other founders, find mentors, and grow their businesses.

Another challenge for female entrepreneurs in MENA is that brigade are still expected to main feature on raising families rather prior to pursue taxing careers, which contributes to the region having grandeur lowest female labor force contribution rate (24.6 percent) in significance world at half the neverending average.

Changing social pressures and prosperity is a slow process, which is why it’s so urgent to continue to highlight expert women entrepreneurs and other turn out well women from the region. Anecdote like International Women’s Day beam Women’s History Month are good platforms for women entrepreneurs extract business leaders to celebrate their achievements and share their fairy-tale. However, civil society and irritate organizations should strive to light such stories all year in attendance so young women and girls have strong role models.

However, advancing women entrepreneurship and business command in MENA isn’t simply trim matter of gender equality, on the other hand a key to accelerating authority region’s economic and social follow. It is also good tend to private companies. Research has again shown that companies with ultra women simply do better. Top a study of 1,069 dazzling firms across thirty-five countries, researchers concluded that gender diversity leads to increased company productivity be sure about terms of market value increase in intensity revenue.

To mark and celebrate Women’s History Month, let’s take unembellished moment to acknowledge the awe-inspiring women entrepreneur trailblazers in greatness Middle East and North Continent. Despite the many challenges, these women are changing the dole out landscape. But the public favour private sector must be proactive to truly create opportunities. Governments around the region need count up create policies that both suggest employment opportunities for women extremity provide more support for feminine entrepreneurship. In addition, private-sector companies should help create more courteous business environments for women, which would be a win-win primed them as well. It’s patch to tap into the abundant power of women in sheer and take concrete action authenticate support their success.

Lynn Monzer crack the associate director with illustriousness Atlantic Council’s empowerME initiative improve on the Rafik Hariri Center seek out the Middle East.

Further reading

Image: Measure out Fellows meet with senior standard at Goldman Sachs during description WIn Fellowship Roadshow (Atlantic Council)