A woman’s work is never done, so an old adage goes. However, for many women in the Arab world, the work is yet to begin. Akshay Bhatnagar reports on the Women in Business Conference that along with the latest IFC study on women entrepreneurs in the MENA region showcases the brighter side of the picture. The world-over, more and more women are seeking economic opportunity and self-determination through enterprise creation. Earlier cited purely on an anecdotal basis, the growth of women’s entrepreneurship is today being increasingly covered and commented upon in the business media. Today, as most surveys and statistical sources reveal, it appears that between one-quarter and one-third of businesses in the formal sector worldwide are owned and operated by women; the share of informal enterprises owned by women is even greater.

Along with increased media attention has come a marked increase in the efforts to support the growth of women business owners and their enterprises by national public policy-makers, multilateral organisations, and non-governmental entrepreneurial support organisations. In Oman, in recognition of the vital role played by women in the development of the national economy, the Oman Chamber of Commerce and Industry (OCCI) has launched a businesswomen committee. “The committee aims at improving the role of Omani businesswomen, to support their leading role in society, to communicate their aspirations and requirements, to provide all necessary assistance for carrying out their activities and to make Omani businesswomen capable to undertake active role in the economic development,” says Lujaina Mohsin Haider Al Za’abi, chairperson of the Committee.

Women In Business

It was to promote women in the business arenas and corporate world that the first ‘Women in Business Conference’ was held in Muscat on June 2-3. Organised under the patronage of HH Sayyida Aliya Bint Thuwaini Al Said, the conference brought together hundreds of successful businesswomen and female entrepreneurs, who shared their experience and exchanged ideas.

Michelle Mone, founder and co-owner of the UK-based MJM International Ltd., advised participants to “grab every piece of PR because it can make a massive difference in your business. Never ever take eyes off your business. When you take your eyes off, everything goes wrong. Never ever become complacent in life, keep tight control on your costs and ban the ‘can’t-do’ attitude from your lives.”

Anousheh Ansari, the first female private space explorer and co-founder and Chairman of Prodea Systems, pointed out that, “in many countries, women are not encouraged to pursue careers in science and technology. However, they should decide what they want to do and follow their dream.”

Aneth Arosemena, division head, marketing and sales, Oman Mobile, advised women to come forward and break the barriers, seek opportunities, create a friendly work environment and turn women attributes into effective tools at work.

Entrepreneurial Spirit

Female entrepreneurship in the MENA region has been increasing and becoming more visible over the last decade. Women-owned businesses are contributing to economic growth and wealth creation. They are creating employment opportunities for other women (and men as well). Moreover, economically active women represent a potentially profitable market niche for the financial sector.

In June, the International Finance Corporation and Center of Arab Women for Training and Research jointly published a comprehensive report titled ‘Women Entrepreneurs in the Middle East and North Africa: Characteristics, Contributions and Challenges’. The report was based on a study conducted in UAE, Bahrain, Jordan, Lebanon and Tunisia. According to Edward A. Nassim, VP (Europe, Africa and Middle East), IFC, “the purpose of this analysis is to help countries in the MENA region better understand the challenges faced by women and to promote an environment in which female as well as male entrepreneurs can thrive.”

The report states that women business owners surveyed in MENA were well ahead of their counterparts in Western Europe and North America with respect to the size of their firms and many report substantial levels of revenue. When compared on a USD equivalent basis, between 6 per cent (Jordan) and 33 per cent (UAE) of surveyed enterprises were generating more than US$100,000 per annum – comparing favourably to the 13 per cent share found among women-owned firms in the United States.

Most survey participants owned established businesses and many had extensive years of experience. On an average, women in Lebanon had owned their businesses for 10.6 years, in Bahrain for 10.2 years, in Tunisia for 8.6, in Jordan for 6.1, and in the UAE for 5.9 years. Women business owners were actively involved in managing their enterprises and close to two-thirds spent at least 40 hours per week operating their businesses.

The women business owners surveyed were largely optimistic and poised for growth, but in need of some direction and assistance to achieve their goals. Between 61 and 88 per cent of the participants expressed optimism regarding their own enterprises while 47-87 per cent expressed optimism about their national economic prospects. Many more businesswomen plan to expand their businesses rather than maintaining current levels of operations. Even in Lebanon, which has been facing turbulent times, the outlook was still very optimistic: 49 per cent are planning to grow, while 45 per cent have adopted a “wait and see” approach. Between one-quarter and one-half of women surveyed were trading internationally. Women business owners in all five surveyed countries used information and communication technology (ICT) for their businesses at rates well above the per capita average worldwide.

The women entrepreneurs in different countries cited similar challenges in doing business, but with different rankings that varied depending on their specific environments. Among the top challenges faced by the majority of women surveyed were: learning financial management skills; finding and keeping good employees; access to capital; and, the high cost of public services.

The other key challenges were the high cost of labour, the desire for access to general business training and support, and the importance of gaining access to new markets for their products and services.