By Professor Muhammad Azam Roomi
Vision 2030 is Saudi Arabia’s ambitious and transformative journey towards a brighter future. Launched in 2016 under the visionary leadership of Crown Prince HRH Mohammed bin Salman, this plan is more than just a strategy. It is a bold dream to reshape the very fabric of Saudi society. At its core, Vision 2030 seeks to diversify the economy beyond oil, unlocking new opportunities and driving innovation. It seeks to modernise communities, uplift lives, and position the Kingdom as a thriving hub of investment, creativity, and culture on the global stage. This is a story of hope, renewal, and boundless potential.
Related to women’s entrepreneurship, key pillars of Vision 2030 include:
• Expanding women’s workforce participation, increasing women’s share of the labour force, and promoting entrepreneurship as a pathway into the economy.
• Removing structural barriers through legal and regulatory reforms to simplify business registration, licensing, and access to finance for women.
• Promoting women as leaders and innovators by supporting women-led enterprises through SME development programs, investment funds, and dedicated mentorship networks.
Against this backdrop, women’s entrepreneurship in Saudi Arabia has made significant progress. More women than ever are establishing and expanding businesses. However, despite this positive development, ongoing challenges persist that demand continuous policy measures and comprehensive systemic reforms.
Areas of progress and concern
Early-stage entrepreneurship. Today, 23.2% of Saudi women participate in startup activities, placing the Kingdom among the top global rankings. This marks a significant milestone, illustrating the increasing enthusiasm of Saudi women to innovate and establish new ventures.
Established Business Ownership. In 2023, women’s Established Business Ownership (EBO) reached 14%, a significant increase from less than 4% in previous years. For the first time, women are matching men’s rates of established business ownership, a strong sign of equality in entrepreneurial outcomes.
Entrepreneurial intentions and networks. Nearly half of Saudi women (50%) express intentions to start a business, and an impressive 86% report knowing another entrepreneur. These robust social networks are vital enablers for business confidence and resource-sharing.
Despite these advancements, women entrepreneurs still face significant barriers. Access to resources remains difficult, as women continue to have limited opportunities to secure financing, technology, and other assets essential for business growth. Persistent gender stereotypes also harm their credibility in the eyes of investors and funders, restricting their potential to expand. Furthermore, institutional and cultural barriers such as guardianship rules and deeply entrenched patriarchal norms continue to limit women’s full autonomy in entrepreneurial decision-making.
Policy priorities
To consolidate progress and ensure sustainable growth, four areas of policy focus stand out:
1. Fix resources access. Expand women’s access to gender-specific loans, incubator programs, and dedicated investment networks.
2. Institutional reform. Enact anti-discrimination laws, streamline licensing procedures, and remove legal and guardianship barriers that disproportionately affect women.
3. Care-sensitive programs. Provide flexible support systems, childcare solutions, and targeted outreach programs to enable women to balance business and family roles.
4. Ecosystem activators. Strengthen women-led networks and mentorship structures to nurture entrepreneurial confidence and skills.
Looking ahead
Saudi Arabia has reached a pivotal moment. Women are no longer marginalized in entrepreneurship; they are key players shaping the Kingdom’s economic future. The task now is to ensure these initial achievements are supported by substantial structural reforms and comprehensive ecosystem-wide assistance.
If resources, policies, and cultural perceptions align, Saudi women entrepreneurs have the potential not only to match their male counterparts but also to foster innovation, create jobs, and promote inclusive growth across the Kingdom. The progress of women entrepreneurs is more than just a social or economic milestone; it is a fundamental pillar for realizing the broader ambitions of Vision 2030, ensuring that diversification and modernization are genuinely inclusive.
Muhammad Azam Roomi is Professor of Entrepreneurship at the Prince Mohammed Bin Salman College (MBSC) and Team Leader of GEM Saudi Arabia. For further analysis, watch the GEM Women’s Entrepreneurship in the MENA Region webinar recording.