05 Apr Female Entrepreneurial Success
By Louise Lewis, 5th April 2016
There has been a lot of talk in the press recently about lack of female entrepreneurs. And for good reason, men are still three times as likely to start a business in the UK. While starting a business is obviously a huge undertaking, for women, sometimes the barriers can be a little harder to overcome.
According to the Government’s Business is Great campaign, which has a website dedicated to female-led start-ups, the UK would have an additional one million entrepreneurs if women set up businesses at the same rate as men.
However, there are almost one million small- and medium-sized businesses led by women in the UK even though often not as straight forward a career path for women, as it is for men, many women are running successful profitable firms like ours; it is clear that more women than ever have the confidence to make the leap into entrepreneurship.
Many women entrepreneurs have succeeded with having a clear plan and strong work ethic, often making many sacrifices including holidays and working long hours. Many women stating that the key is to stay motivated and passionate, believing in what you are trying to achieve and staying on track.
With the combination of networking, a well-balanced team, customer service, market research, a refined business model and having enough belief in yourself, you could be another women adding to the list of entrepreneurial female successes in the UK.
What the Government could do to promote female entrepreneurship
✔ Actively promote the benefits of gender balance in a company’s leadership
✔ Provide a fair share of government supported business investment and funding for women, helping raise the capital in the tough first stages of business
✔ Start addressing and encouraging entrepreneurship in girls from an early age
✔ Making childcare an allowable business expense would make starting a business more feasible for many women
✔Creating initiatives such as no string stipends would give women the leeway and time to plan a business without having to worry whether taking the time out to do this is financially viable
Tips for female entrepreneurs
Consider financial sources other than traditional bank loans
A business mentor is invaluable
Set the example and create a gender balanced team