Setting the pace
Research suggests that 900,000 more businesses would be created if the UK achieved the same level of female entrepreneurship as in the US, resulting in an additional £23 billion gross value added to the UK economy. In England alone, 150,000 extra businesses would be created per annum if women started businesses at the same rate as men.
41% of women said practical support such as digital skills workshops would help when starting a business.**
44% want to set up a business to turn their hobby or passions into their career and 40% said they want to make more money.**
Women run business are more likely to leverage online tools to make their businesses succeed.
The UK has seen an increase in the number of women in self-employment, rising by approximately 40% from Nov to Mar 2008 to Nov to Jan 2016.
The most common sectors women said they would be likely to set up a business in are Hair & Beauty (10%) and Retail (10%).**
of women said that access to financial support and advice would help them set up their own business.**
Women-led businesses tend to be more highly concentrated in health and social work and community, social and personal services.
On average women entrepreneurs tend to be younger than male counterparts and operate newer businesses smaller in turnover and size.
of women could think of a female role model who is running a similar business in their chosen sector – an increase of 6% from 2016.**
Three main things are holding women back: access to finance (38%) concerns over financial security (34%) and a lack of confidence (25%).**
active SMB pages on Facebook in the UK. Between 2014 and 2015 the number of women-owned SMB Pages increased by 70%. (Facebook 2016)