{"id":7305,"date":"2019-11-19T15:54:20","date_gmt":"2019-11-19T15:54:20","guid":{"rendered":"https:\/\/flat6labs.com\/new\/?p=7305"},"modified":"2020-09-15T10:37:27","modified_gmt":"2020-09-15T10:37:27","slug":"here-is-why-flat6labs-believes-mena-needs-more-women-entrepreneurs","status":"publish","type":"post","link":"https:\/\/flat6labs.com\/here-is-why-flat6labs-believes-mena-needs-more-women-entrepreneurs\/","title":{"rendered":"Here Is Why Flat6Labs Believes MENA Needs More Women Entrepreneurs"},"content":{"rendered":"
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In 2018, the World Bank<\/a>\u00a0published a research that detailed how MENA\u2019s GDP could have increased\u00a0$1 trillion<\/a>\u00a0over the \u201cpredicted\u201d level if the gender gap was narrowed down the past decade, and if more women were capable of taking part in the economic growth of their respective communities. With around\u00a048% of MENA\u2019s population consisting of females<\/a>, and only\u00a028% of adult women taking part in any kind of economic development<\/a>, MENA has a goldmine of untapped women potential that could indefinitely help economies of different countries. It even stands truer, as Dina El-Shenoufy, Flat6Labs\u2019 CIO put it in the World Bank\u2019s Annual Meetings \u201cToday, in my part of the work, less than 10% of the startups are launched by women. The economies would basically double, if we fix that disparity.\u201d El-Shenoufy\u2019s testament is at the core of what Flat6Labs stands for when it comes to supporting women entrepreneurship all over the region. We believe in women\u2019s ability to change economies of countries. We\u2019ve been supporting different female founders establish, grow, and scale their startups across the region through Flat6Labs. Also, the Flat6Labs powered initiative, StartEgypt, has been taking the helm of inspiring, encouraging, and educating women in Egypt to innovate. However, this is not the tip of the iceberg yet because with more women entrepreneurs, women\u2019s impact extends economically, socially, and culturally.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/figure>\n<\/div>\n<\/div>\n<\/div>\n
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More women entrepreneurs means more innovation<\/strong><\/h3>\n

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There are often two reasons why someone would start a startup, and it can be either the potential of an untapped opportunity or the potential of surviving poverty and unemployment. In a recent\u00a0study on women entrepreneurship in the MENA region<\/a>, Hala Hattab found that the general consensus is that women are driven to take part in entrepreneurial activities because of the existence of opportunities, especially in Egypt. Since we\u2019ve already mentioned that women compromise 48% of MENA\u2019s population, this means that with more women entrepreneurs there is a much higher chance for innovative products and services, and room for improvement in every industry. This will benefit consumers, businesses, governments, and economies of countries at large.<\/p>\n

Women-led small businesses tend to create an overflow of job opportunities<\/strong><\/h3>\n

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If more women entrepreneurs were to start venturing with scalable businesses, more job opportunities will be created, and the\u00a0GDP<\/a>\u00a0of countries affected by such growth will increase. In one research, it has been forecasted that if women were capable of starting such businesses, millions of jobs will be created;\u00a0Dell\u2019s research<\/a>\u00a0further elaborated that in the U.S. alone\u00a015 millions jobs<\/a>\u00a0will be available for the unemployed. Hattab\u2019s research on the employment rate in women-led small businesses in MENA, indicated that the highest average of employment rates exists in Jordan, Lebanon, and Yemen with around 20 employees per startup; a big number considering that the businesses are still at their infancy.<\/p>\n

Women inspire other women<\/strong><\/h3>\n

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Women inspire women. Independent, powerful, and socially impactful women can inspire women to start their own businesses, and be a strong force in any economy.\u00a0StartEgypt<\/a>\u00a0initiative has roamed 17 cities over the past years, and has trained and counseled 1,000 women entrepreneurs around Egypt through 14 Female Founder sessions. During such sessions, StartEgypt brings successful entrepreneurial models to inspire Egyptian females all across Egypt, and they also offer workshops for female entrepreneurs, and provide them with access to their incubation program. Also, StartEgypt\u2019s \u2018Inspire\u2019 which was held 42 times, saw about 6,000 females attending it. Last but not least, StartEgypt has welcomed 20 female founders to their incubation program the past cycles! When women are inspired they can lift themselves up from poverty, they can fight unemployment, and their independence will evidently inspire other women.<\/p>\n

Women are more likely to invest their revenues to further extend the growth and impact<\/strong><\/h3>\n

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A research conducted by the\u00a0World Bank<\/a>, found out a pattern where women are more likely to invest 90% of their income in supporting their families and communities. To further elaborate, a Goldman Sachs report states \u201cenabling women, particularly as entrepreneurs, benefits future generations because women tend to spend more on their children\u2019s education and health, which should boost productivity as well.\u201d<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In 2018, the World Bank\u00a0published a research that detailed how MENA\u2019s GDP could have increased\u00a0$1 trillion\u00a0over the \u201cpredicted\u201d level if the gender gap was narrowed down the past decade, and if more women were capable of taking part in the economic growth of their respective communities. With around\u00a048% of MENA\u2019s population consisting of females, and […]<\/p>\n","protected":false},"author":2,"featured_media":11341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[64,63],"tags":[],"acf":[],"yoast_head":"\nHere Is Why Flat6Labs Believes MENA Needs More Women Entrepreneurs - Flat6Labs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flat6labs.com\/here-is-why-flat6labs-believes-mena-needs-more-women-entrepreneurs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here Is Why Flat6Labs Believes MENA Needs More Women Entrepreneurs - Flat6Labs\" \/>\n<meta property=\"og:description\" content=\"In 2018, the World Bank\u00a0published a research that detailed how MENA\u2019s GDP could have increased\u00a0$1 trillion\u00a0over the \u201cpredicted\u201d level if the gender gap was narrowed down the past decade, and if more women were capable of taking part in the economic growth of their respective communities. 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