UK Female-owned businesses growing rapidly
More women than ever are pursuing self-employment and starting small businesses.
In a review of over 550,000 small business owners and the self-employed, data reveals that the majority of small businesses are founded by men. However, the number of female owners are rising at a faster rate, at 59% versus 51%. This is almost a 10% difference.
The analysis by one of the UK’s largest small business insurance providers, Simply Business, also revealed that from 2018-2022 there has been a large increase in female-owned SMEs. The number has risen 59% overall over the four year period.
The UK economy can thrive by supporting Female-owned businesses
UK Female-owned businesses growing rapidly is of great benefit to our economy. NatWest suggested that increasing female entrepreneurship is one of the biggest opportunities for growing the UK economy. Doubling the number of women-led businesses and increasing their productivity by about 40 per cent would produce around £50bn in GVA. This in turn would add around 50,000 new female entrepreneurs. Plus, 60,000 more women-led businesses in the UK economy by 2030.
Difficulties for UK Female-owned businesses
A study by Simply Business revealed over a fifth (22%) of female entrepreneurs have faced investors, colleagues, or customers making quick assumptions about them. Also underestimating them when compared to their male counterparts.
One in five (20%) also don’t feel they’re taken seriously compared to males in their industry. Furthermore, nearly a fifth (15%) of female entrepreneurs don’t feel they have a loud enough voice. Or they feel they aren’t heard enough compared to men.
What is The Empowering Entrepreneur?
We have created an incredible community of like minded business women. Here, women have made long lasting friendships with people who ‘get them’. These are women who share the same struggles and worries of running businesses and a family, for example. As UK Female-owned businesses grow rapidly, so does our community!
Are you a women in business looking to expand into the world of networking?
Are you looking for a Female Networking Event in Oxfordshire?
The Empowering Entrepreneur holds networking events. They are for women in business who share our passion for success.
We create a positive and inspirational environment with our events. With two incredible speakers at each event, you can take away valuable knowledge and immediately implement this into your business. Plus, we encourage growth both personally and in business. We create a positive buzz like no other at each event. This will keep you energised for weeks after!
Book onto our upcoming June event here.