Visa and First Abu Dhabi Bank (FAB) in the UAE has announced the second edition of the ‘She’s Next’ initiative that aims at supporting businesses by women in the country. The programme encourages women business owners to apply for a grant worth $50,000.
‘She’s Next’ is a global advocacy programme that aim at supporting women-run businesses through funding, mentorship and training. One winner will be selected to win the grant and gain access to the club’s resources including the workshop library and community of entrepreneurs.
Salima Gutieva, Vice President and Country Manager for the UAE, Visa said, “We’re proud to bring the second edition of our successful ‘She’s Next’ programme to the UAE, in partnership with FAB.”
Gutieva added, “Women entrepreneurs face unique challenges, such as limited access to capital, and dealing with stereotypes, which often complicate the already complex digitalization journey in today’s business landscape. The Women SMB Digitalisation Index reinforces the critical importance of this shift, and showcases the progress made by UAE-based women-owned businesses in joining the digital economy.”
Dr. Saeeda Jaffar touched on this at the AB Women in Business Conference 2023 that took place on Thursday saying, “One of the big programmes and models most proud of most excited about is something called She’s nice. And She’s Next is it’s actually a programme for women entrepreneurs. So it could be many of us sitting here today there’ll be someone a friend or a family member or somebody you know.”
Since 2020, Visa has invested over $3 million in over 250 grants and coaching for women small business owners through the programme in countries including US, Canada, India, Ireland, UAE and Saudi Arabia.
According to research-based data, around 8 out of 10 women tap into their personal savings to start their business.
Sara Al Binali, Group Head of Corporate, Commercial, and International Banking at FAB, said: “As a bank that is value driven, strategically driven, and forward driven, FAB recognises the essential role that SMEs and women will play in shaping the future for sustainable growth.”
“Through our partnership with Visa, the She’s Next initiative is unlocking the potential of female entrepreneurs, and is already supporting capable, ambitious women in achieving their goals. We are very proud to continue our support for She’s Next, empowering talented women to take their businesses to the next level and creating new opportunities across our community,” she added.
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