In Oman, women-led entrepreneurship is more than just a notion; it is a thriving reality that is altering the country's economic landscape. Women entrepreneurs are making major achievements in a variety of industries, driving economic growth and societal improvement, thanks to supportive regulations, adequate resources, and a thriving entrepreneurial spirit.
As Oman continues on the revolutionary journey envisioned in Vision 2040, the advancement of women's roles in the economy emerges as a critical component. Vision 2040 advocates for women's empowerment, gender equality, and the unleashing of female-led entrepreneurship as a driving force for sustainable development.
Data from the Oman Chamber of Commerce and Industry (OCCI) show a significant increase in women-owned businesses in Oman. The creation of OCCI's 'Women at the Top' platform for business women represented a significant shift, providing women with support and encouragement to enhance their abilities and boost their participation in entrepreneurial ventures.
Women are breaking into a variety of industries, from small startups to established businesses, demonstrating their versatility and ingenuity. The ratio of female entrepreneurs climbed from 29% in 2021 to 32% in 2022, while the percentage of female business owners reached 6.1% in 2022.
Shell Intilaaqah, an initiative founded in 1995 to stimulate entrepreneurship, offers intensive training programmes to nurture Omani youngsters and foster company concepts. Such programmes provide opportunities for women entrepreneurs to grow, promoting self-employment and economic empowerment. Sanad Service Centers are SMEs that provide services for public and private entities by relying on IT and e-government systems. Sanad Service Centers also provide comprehensive support to entrepreneurs at every stage of their journey and aids with their development and growth. Similarly, the Omani Women's Association (OWA) aims to help women become self-sufficient and productive members of society.
Despite huge improvements, women entrepreneurs in Oman confront some challenges, including restricted financing, work-life balance and complex legislation. These issues could be further addressed through awareness campaigns, funding programs, regulatory simplification, the establishment of networking platforms, and flexible employment arrangements.
As Oman stresses gender equality and economic diversification, the future looks bright for women-led enterprise. Women entrepreneurs, with continued support from the government, private sector stakeholders, and the wider society, are positioned to play a critical role in driving innovation, creating jobs, and furthering Oman's sustainable development goals.
Well-known female entrepreneurs such as Manasik al Moosawi, the founder of Aakis Design Studio and a certified Business, Trainer as well as Ghaya Barwani, an Organizational Culture and Team Coach, are exemplary role models, representing creativity, leadership, and achievement. As Manasik al Moosawi explains, "Empowering Omani women entrepreneurs is more than just a goal; it's a collaborative effort supported by our society. Through our collective determination, we're tearing down barriers and creating opportunities that will benefit generations to come. As we navigate this path, we're not just establishing businesses; we're laying the groundwork for a future where every woman can pursue her aspirations with confidence and determination."
Similarly, Ghaya Barwani articulates, "Entrepreneurship is more than a calling. It is a part of who we are and what motivates us every day to jump out of bed with joy." She further advises, "My message to all entrepreneurs is to make sure you understand what you want to give to the community, what you want to receive in return for this solution you are offering and how you want to feel in your business. The answer to these three questions are the key to being personally fulfilled and financially successful as an entrepreneur."
Moreover, Ghaya Barwani underscores the viability of investing in female-led entrepreneurial ventures by highlighting significant facts:
Discontinuation of a business across 59 countries is 10% lower in female entrepreneurs compared to their male counterparts. During a 17 year survey of female and male male-owned businesses, female-owned businesses enjoyed approximately 72.3% growth on average, while male-owned businesses only grew by 41.5% over the same period.
Female entrepreneurs reinvest 80% of their income in their families and communities compared to 39% of men. Hence, she says that investing in women entrepreneurs will not only mean supporting the business but the local community as well.
Their accomplishments not only inspire, but also pave the path for the next generation of Omani women entrepreneurs. These role models demonstrate that entrepreneurship is not only attainable but also rewarding, igniting passion and a sense of possibility within women.
The emergence of female-led entrepreneurship in Oman illustrates the country's dedication to creating an inclusive and vibrant business climate. Women entrepreneurs are not only breaking down barriers, but also generating positive change and economic progress, thanks to supporting policies, access to resources, and an innovative attitude. Women-led businesses will definitely continue to thrive and expand their influence as they contribute to Oman's wealth and progress.
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