(MENAFN - Khaleej Times) One of the most damaging things that a woman will run into when operating her own business is an unconscious bias that men might have about the idea of a woman-owned and operated business, experts at the Women Economic Empowerment Global Forum said.

Speaking in a panel session, Shayma Nawaf Fawwaz, founder and CEO of Gossip the Brand, said women second-guess themselves more than men and this was unfortunate because it had negative consequences for their businesses.

"Many women are not as aggressive as they need to be in going after what they want when compared to men," she said. "One of the most common problems women face is they lack confidence even when they have a sound business idea."

The panelists revealed that according to recent research, while women are responsible for 80 per cent of household spending, they are liable for less than one per cent of global corporation procurement.

Andy Butler, global supplier citizen lead at Procter & Gamble, said that despite the figures, the reality was a bit different. "When we work with women-owned companies, they perform better than average. So, that's a clear rationale to conduct business with them. As a company, we list diversity and gender equality as two of our main pillars, but often businesses don't realise the advantages and we need to educate the unconscious buyer," he said.

Fawwaz believes that while there are still many changes that need to be made, the UAE may have an advantage in the mindset of women businesses."I think women here are far more likely to help other women," she said. "We need to make conscious decisions and with women-owned businesses contributing in some way to 20 per cent of the gross domestic product, we need to capitalise on that."

She added that a lot could be learned from the success of the government sector, but there needed to be policies that focused more on incentivisation as a way of closing the gap that women face.

Javette Hines, director, head of supply chain development, inclusion and sustainability at Citi, said confidence is key. "Give yourself a three to five-year goal, setting out in the clearest terms the points which you are going to achieve. Keep a record of those achievements over the year and present them to your target market."

Like Fawwaz, Hines said government policies could be a good starting point. "We need policies that focus on inclusion and support. Also, from a corporate perspective, one should not necessarily wait for the government to act. If you have the resources and the expertise, then put internal policies in place that are relative to the region in which you are operating."

-

Rohma Sadaqat I am a reporter and sub-editor on the Business desk at Khaleej Times. I mainly cover and write articles on the UAE's retail, hospitality, travel, and tourism sectors.Originally from Lahore, I have been living in the UAE for more than 20 years. I graduated with a BA in Mass Communication, with a concentration in Journalism, and a double minor in History and International Studies from the American University of Sharjah.If you see me out and about on assignment in Dubai, feel free to stop me, say hello, and we can chat about the latest kitten videos on YouTube.

MENAFN0412201700490000ID1096186645