What an inspiring morning it was at the WE Convention organized by the Women's Empowerment Council! I had the privilege of leading a roundtable discussion on the topic, "Women Entrepreneurs: Needs, Challenges, and Access to Capital in the UAE."
The diversity in terms of business stages, nationalities, and ambitions was truly remarkable. I was deeply moved by the firsthand experiences shared by women who were standing at the cusp of launching their ventures.
Here are some key insights from our discussion on women entrepreneurship:
Trust in Contracts: It may be tempting to rely on verbal agreements, especially with friends and family, but keeping your contracts and agreements immaculate is essential for clarity and protection.
Business License and Accountability: Having a business license is not just about legal compliance and credibility; it also fosters self-accountability and professionalism.
No Cutting Corners: When it comes to law and licensing especially in UAE, it's vital not to take shortcuts. Make informed decisions with a long-term perspective in mind and establish a legal entity for your business.
Setting agreements and paperwork in place is non-negotiable. While the UAE offers an incredible environment for starting a business, it's crucial to be prepared for any disputes that may arise and potentially get caught up in the legal complexities for an indefinite period.
A big thank you to all the incredible women who participated and shared their valuable insights on women entrepreneurship.
Together, I believe WE can accomplish anything!
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