Jeddah: - Recently, Female entrepreneurship is on the rise in Saudi Arabia and Saudi female entrepreneurs have proved their success through their strong desire, qualities, and capabilities, according to an expert.
To this end, Saudi women seem to have made significant gains in business and with Saudi Vision 2030’s Human Capital Development Program emphasizing the role of SMEs in the economy, and as women-led entrepreneurship grows exponentially, the Kingdom is witnessing a drastic shift in its economy,” said Selina Bieber, GoDaddy Commercial Strategy Senior Director, International Markets.
The Kingdom’s Ministry of Communications and Information Technology reported a 112 percent increase in commercial registrations issued for women entrepreneurs in six years from 2015.
Bieber noted that the increasingly important role women-led small businesses are set to play, not just in the economy’s recovery, but also its prosperity over the years ahead.
she said: “The Region has seen a tremendous boom in business at large but especially in entrepreneurship in recent years. Women entrepreneurs have been recognized over the last decade as an important untapped source of economic growth.”
“In Saudi Arabia, there is a large pool of dynamic Saudi women with the talents and capabilities to run their own businesses. Saudi women account for 17.7% of the total number of entrepreneurs in the Kingdom compared to 17% of Saudi men according to a 2021 report by London-based Global Entrepreneurship Monitor (GEM).
She continued “Furthermore, Vision 2030 is introducing women to new levels of leadership and economic empowerment. As such, and in efforts to increase women’s participation in the workforce, many national and private sector initiatives are taking place. These focus on boosting Small and Medium Businesses (SMEs) as vital agents of economic development in the country.
According to a Saudi government report, the number of commercial registrations held in the name of Saudi businesswomen reached 139,754 in July 2021. “They are mainly reported as being in the services sector, operating in a wide range of industries from design and education to real estate and manufacturing, she said.
Asked about how if Saudi female startups are up to the challenge, she replied “Sure, in this golden age of globalization, digitalization and start-up booms, there’s no way around small businesses having strong digital presence. There has been a positive increase in digitalization among Saudi Arabia’s small businesses, as reported in GoDaddy’s MENA Survey 2021, with 43% of Saudi businesses surveyed saying they were planning to enhance their social and digital presence and online sales activity in 2022.”
She added “For entrepreneurs and small business-owners to digitize their business, and sell online, it is important that they have access to the necessary tools, solutions and resources to help them along their entrepreneurial journey. From website creation, e-commerce stores and sales channels to digital marketing tools and social media support, as well as training and workshops, there are several elements to help support their businesses grow online and succeed.”
She pointed out that GoDaddy focuses its support for SMEs as they join the digital transformation move globally through knowledge-sharing and providing the tools and resources to help their business grow online.
She affirmed that the GoDaddy Arabic Website Builder makes it easier for businesses to get online, in their local language. “Additionally, entrepreneurs can use the localized customer support for assistance and get guidance they need to plan, build, market and grow their online presence in Arabic through our educational content.”
In conclusion she said: “with over 50 percent of university graduates being female, Saudi women are considered a great asset to the growth of the Kingdom. Providing women entrepreneurs with the right education, support and opportunities can help to enable the country to capitalize on this great resource and render entrepreneurship a driving factor in the economy.”