Female led organisations

Data compiled from the UK Government, ONS, the Rose Review, and Prowess research has been an interesting read for me.

It says that:

·       Almost 1 million UK SMEs are female led – that is 19% of active UK SMEs.

·       Women now represent 1 in 3 entrepreneurs.

·       However, women-led companies received just 5.8% of all investments.

·       £250 billion of new value could be added to the UK economy if women started and scaled new businesses at the same rate as UK men.

The untapped potential is enormous!

Despite the challenges, female-led companies tend to outperform their male-led counterparts, with average revenues of £10.4 million compared to almost £6.1 million for male-led companies (money.co.uk).

And women are real innovators - they are more likely than men to launch a new product or service, tend to have fewer competitors and are more likely than men to use technology in their products and services.

Many women do not set up in business to grow a business empire - flexibility around family care is the main reason women with children start a business. Women are nearly five times more likely to mention family reasons for becoming self-employed than men. But women starting up in business tend to provide a more immediate contribution to the economy, and a pound invested in developing a woman’s enterprise provides a greater return on investment than a pound invested in developing male-owned enterprise.

I know that not every woman wants to create a fast-growing business, but for those that do the obstacles are still too high.

As a mother who has been an entrepreneur and businesswoman for over two decades, I know and understand the challenges, and I also know that they can be overcome. It can be daunting and exhausting but with the right support it is possible to grow your business and keep the plates spinning.

For FTSE companies the picture is rosier. Thanks to government-backed targets, corporate equality initiatives and press coverage, at least 40% of directorships are held by women. So, it’s about time more focus was given to female-led SMEs – they are growing in number, they are innovative and creative and are creating jobs. With the right support SME women can make a huge contribution to our flagging economy.

Please get in touch if you would like a chat.