A recent Mastercard study shows that 84% of women in the UAE are considering starting their own business, with nearly equal numbers of men (47%) and women (49%) identifying as entrepreneurs, according to a press release.

Young women are at the forefront of this trend, with millennials (53%) and Gen Z (44%) driving business creation. Popular industries include food and drink (26%), online selling (22%), and cosmetics (19%).

Optimism is strong among female entrepreneurs, with 98% expecting revenue growth in the next five years — outpacing male business owners, 85% of whom share the same outlook.

More women (56%) than men (52%) have side hustles, using freelancing, tutoring, and content creation to build financial independence. AI is also a game-changer, with 75% of women entrepreneurs integrating it into their businesses and 85% reporting cost or time savings.

Challenges persist: Some 67% of women cite lack of funding as a major barrier, compared to 59% of men. Confidence gaps also play a role, with 30% of women reporting self-doubt — three times higher than men at 10%. Fraud is another concern, affecting 35% of women entrepreneurs, though fewer women (48%) than men (72%) hesitate to expand due to fraud risks.