Reasons why we need more Women Entrepreneurs
The role of women has changed manifolds in the last few decades for the betterment of society. Women Entrepreneurs can now be seen in corporate positions that were earlier considered masculine. They are also doing better than many males in their respective fields. The gender stereotypes are slowly breaking with feminism however there is still a lot that needs to be done. While female constitute nearly half of the population, less than 1/4th of them are seen participating in economic activities. The global average of the senior corporate positions that women comprise is 24 percent.
Women may have the potential to solve issues in a different way and this can be extremely helpful in finding a quality solution. They can help with the process of decision making and this can enhance the quality of decisions made.
Here are some of the reasons why the world requires a higher number of Women Entrepreneurs and how it can be helpful in economic, social, and cultural growth.
- Economic Growth
The increase in the number of female entrepreneurs in the corporate sector can be a huge contributing factor in the economic growth of UAE. The participation of women as entrepreneurs is extremely less. With a lower number of women entrepreneurs, a wide range of populations is not getting involved and all the potential is getting wasted. Women are known to have the ability to make and maintain long-term bonds and can communicate, organize and network in a more effective fashion than men.
They follow a conservative approach which is the reason for lower failure rates in organizations that are run by women. Overall, more women entrepreneurs would mean an economically better and stable country.
- Narrowing Gender Gap
Even after a lot of time, men and women still have a huge gap that needs to be covered for a better social and economic condition. One woman inspires others, creating a bigger and better workforce and thus narrowing the prevailing gender gap. If the gender gap is narrowed, the global per person income will get a boost by up to 30%
- Company Culture & Safety at Workplace
A strong and optimistic company formation in Dubai mainland is essential for the growth of a company and its long-term success as well. Women owned firms are better at transparency, work culture and have higher values as well. The client relationships are also better. With the struggle of managing both work and home life, women would be more considerate and allow more flexibility than men. The health and safety of employees would also be a priority.
With the higher number of women now taking part in business setup service related activities, their safety should be one of the top priorities. With a lot of harassment cases being reported at various workplaces, women’s safety laws in every firm should be made even more strict. Companies run by female entrepreneurs are more sensitive to issues such as these and have strict rules against such issues
- Social Change
In countries with lower GDP, entrepreneurship can be helpful for women with weaker financial backgrounds. This can lead to a major social change and be a huge and vital step in women’s empowerment. Women are able to be independent and take more central social roles in society.
- More Money Reinvested Into Local Economy
According to many surveys, 90% of the earnings of emerging marketplaces are reinvested into the local economy. While men are more likely to spend their earnings on consumables and other personal needs, women spend the same on children and family.
- Improved Innovation
Women owned businesses have higher innovation levels. While people find that the risk involved in investing in women operated businesses are higher, the studies show otherwise. Women are more innovative than their male counterparts due to the fact that they have different roles in society and therefore a different perspective towards things. Their understanding of what is useful and what is essential is quiet different from that of men.
With a diverse perspective and a lot of potentials, women have a valuable say in the business setup in Dubai sector and help in better and improved innovation.
What Is Necessary To Support Women Entrepreneurs Around The World?
A significant question that needs to be answered is, what should be done to support women entrepreneurs in the world? The main issues faced by women are experience, funds, and mentoring.
Programs that educate women about the entrepreneurship world should be supported and they should be connected with more influential female entrepreneurs so that they have the motivation required them to get into the corporate world. Providing women with help to find high-quality credit sources can also be extremely helpful. Women can give their contribution to better business, more economic growth at both global and local levels as well as in innovative ideas.
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