DUBAI: Three successful female entrepreneurs provided wide-ranging practical tips on what it takes to be a successful businesswoman during a panel discussion held today (24 October) at the Women’s Pavilion at Expo 2020 Dubai, with a strong focus on the need to embrace digital technology.
During the event, which was hosted by Mastercard – Official Payment Technology Partner of Expo 2020 Dubai – three panellists shared their experiences, and agreed that passion, determination and belief in oneself should form the foundation of any enterprise or start-up.
Sarah Beydoun, Founder, Sarah’s Bag, said: “My passion for bags led me to seek out women who were willing to use their skills to create amazing stuff. Today, more than 150 women, some of them prison inmates, are part of my business enterprise and have been able to rise above their economic problems because their energies were channelled creatively.”
She recounted the story of her devastation when her shop in Beirut was impacted by the August 2020 port blast and the subsequent trauma she went through. It forced her to open an online store and learn about digital technology and digital payments, resulting in an increase in her international customer base.
Maureen Hall, Founder, Coéga Sunwear, said: “Being a woman entrepreneur can be very challenging. But once you set your mind to it, one should never give up. It requires learning from mistakes, moving away from [your] comfort zone and just keeping going. As for seeking investors, one must look for people who will bring something more than cash to the table, by way of passion and commitment.”
Ioanna Angelidaki, Co-Founder, InstaShop, recalled her tough journey launching the online grocery store, and recommended that entrepreneurs looking for investors should cherry-pick investors who would be more like friends, not only driven by profits.
Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard, said: “Though digital technology is gaining momentum among women in business, there is still hesitancy among some. The fact is that there are a lot of issues with using cash, and, with consumers increasingly switching to digital payments, it is vital for SMEs to start adopting digital technology. Our research shows that 81 per cent of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68 per cent of their male counterparts. This is a very encouraging development.”
The workshop was the first in a series of events focused on knowledge-sharing, networking and mentoring for female-owned businesses. Moderated by Jen Blandos, Managing Partner at Female Fusion, the inaugural workshop explored the theme of female entrepreneurs in the digital economy and transition to digital payment.
© Press Release 2021
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