Women in the UK are half as likely to set up a business as menMar 08, 2023
Women in the UK are half as likely to set up a business as men – with 4% of women engaged in some type of entrepreneurism versus 9% of men.
Interestingly when asked whether they believe they have the skills and experience to start up, 39% of working-age females say they think they do, while a quarter (25%) agree that there will be good start-up opportunities where they live in the next six months.
So why are so few women taking the leap into entrepreneurialism?
Well, even 50 years after The Equal Pay Act came into force women still face an uphill battle in the workplace, with the corporate world in particular far from a level playing field.
And, while I’m cautious about making sweeping statements, this scenario has created a situation in the UK where women tend to be more reserved, less confident, less tapped into professional networks and less likely to take risks than men are.
All of these factors act as deterrents to women starting up a business, even if they believe they have a good idea and can see opportunities for making their business work.
With the right support though, all of this can be overcome. We need to ensure women believe in themselves and have the confidence to push themselves – and their brilliant business ideas – forward.
What do you think? What can be done to convince more women to take the plunge into entrepreneurism?