Egyptian women in Business 2023
There are many stereotypes about the Middle East that have been lingering around for a long time. One of them is that women don’t play an active role in business. This stereotype is far from true, as many Egyptian women are playing a major role in the country’s economic growth and development. In this blog post, we will discuss some of the most successful Egyptian women who are paving the way for other female entrepreneurs in Egypt and beyond. We will explore their unique stories, successes, and how they’re helping build stronger economies, businesses, and communities throughout the country.
Egyptian Women in Business
In recent years, Egyptian women have been making great strides in the business world. According to a report by the World Bank, the number of women-owned businesses in Egypt has grown by 30% since 2010. This is an incredible achievement given the many challenges that women face in starting and growing businesses in Egypt.
One of the biggest obstacles for women entrepreneurs in Egypt is access to finance. Women are often excluded from traditional sources of financing such as bank loans and venture capital. However, there are a number of initiatives underway to help female entrepreneurs access the financing they need to start and grow their businesses. For example, the Women Entrepreneurship Challenge is a program that provides grants and mentorship to women-led startups in Egypt.
Another challenge that women entrepreneurs face is cultural norms and expectations. In a patriarchal society like Egypt, women are often expected to stay at home and take care of the family instead of working outside the home. This can make it difficult for women to find mentors, customers, and employees who take them seriously as business owners. However, there are many female entrepreneurs who are breaking down these barriers and paving the way for other women to succeed in business.
Despite the challenges, there are many reasons to be optimistic about the future of Egyptian women in business. With more programs and initiatives popping up to support them, Female entrepreneurs are poised to make even more progress in the coming years!
The current state of women in business in Egypt
In recent years, the number of women in business in Egypt has been on the rise. This is due in part to the fact that more women are receiving higher education and are enterprising into professional and managerial roles.
Despite these advances, women in Egypt still face significant obstacles when it comes to doing business. They often lack access to the same resources and opportunities as their male counterparts, and they are also more likely to experience sexual harassment and gender-based discrimination.
As a result of these barriers, Egyptian women are typically underrepresented in business ownership and leadership positions. However, there are a number of initiatives and organizations working to support female entrepreneurs and help them overcome these challenges. With continued effort, it is hoped that Egyptian women will continue to make progress in the business world.
The challenges faced by women in business in Egypt
Egyptian women in the business face numerous challenges that their male counterparts do not. These include but are not limited to:
1) Lack of access to capital and financing - In Egypt, women own only 14% of businesses, and only 3% have access to formal financing. This is compared to men, who own 86% of businesses and have access to formal financing. This gap in access to capital and financing prevents women from starting or growing their businesses and limits their ability to create jobs or achieve economic independence.
2) Gender-based discrimination - Women in Egypt experience discrimination in both the public and private spheres. They are often excluded from decision-making roles in both government and businesses and earn less than men for equal work. In addition, sexual harassment is a major issue for women in Egypt, both in the workplace and in public spaces. This discrimination makes it difficult for women to succeed in business, as they lack the same opportunities and resources as men.
3) Lack of social support networks - Women in Egypt often lack the social support networks that are necessary for starting and growing a business. They may not have access to mentors, role models, or other resources that can help them navigate the challenges of starting and running a business. Additionally, they may face resistance from family members or society at large when trying to start a business, due to cultural norms that consider entrepreneurship to be a man's domain.
Success stories of women in business in Egypt
The blog article "Egyptian women in Business" discusses the successes of Egyptian women in business. It highlights the stories of three successful Egyptian women entrepreneurs:
1. Nadia El-Mougy is the founder and CEO of Cairo-based event management company, BECOME. She started her company in 2010, and it has since become one of the leading event management companies in Egypt.
2. Dina Shoman is the founder and CEO of Alexandria-based online retailer, The Glam Shop. She started her company in 2012, and it has since become one of the leading online retailers of luxury fashion and beauty products in Egypt.
3. Lilly El-Sherbini is the co-founder and managing partner of Cairo-based venture capital firm, Sawari Ventures. She started her company in 2013, and it has since become one of the leading venture capital firms investing in early-stage startups in Egypt.
Advice for Egyptian women starting their own businesses
In recent years, there has been a surge of women starting their own businesses in Egypt. While this is a great development, it can also be a daunting task for those without any business experience. Here are some pieces of advice for Egyptian women who are looking to start their own businesses:
1. Do your research: Starting a business is not a decision that should be made lightly. Make sure you have done your research and have a clear understanding of the industry you are entering and the potential risks involved.
2. Create a detailed business plan: This will be your roadmap for success and will help you track your progress as you get your business off the ground. Your business plan should include everything from your target market to your marketing strategy and financial projections.
3. Get expert advice: Before making any major decisions, it is always worth seeking out the advice of experts in the field. This could include hiring a business consultant or signing up for an entrepreneurship course.
4. Stay focused and organized: Once you have started to build up your business, it is important to stay focused and organized in order to keep moving forward. This means setting goals and deadlines and keeping on top of all aspects of your business.
5. Be prepared for challenges: Running a business is not always easy and there will inevitably be challenges along the way. It is important to be prepared for these and have contingency plans in place so that you can overcome any obstacles that come your way.
In conclusion, Egyptian women have made great strides in business over the past few decades. They are now playing a major role in Egypt’s economic growth and development. However, there is still much work to be done as gender gaps remain wide in terms of equal pay and access to resources. Therefore, it is important that more initiatives are taken by the government and society at large to continue empowering Egyptian women in business so they can reach their full potential.
By providing access to resources and education, as well as offering mentorship and support, we can ensure that female entrepreneurs in Egypt have the same opportunities to succeed as their male counterparts. This will help create a more eq