If the UK had the same percentage of female entrepreneurs as the US, an additional 800,000 new businesses would be created, it has been claimed.
According to Women Unlimited, an organisation that helps female entrepreneurs to set up and grow their businesses, just 14% of UK companies are owned by women, compared with 28% in the US. However, women make up 42% of the workforce.
Julie Hall, founder and editor of Women Unlimited, wants to see the percentage of female entrepreneurs in the UK double over the next 20 years.
Speaking at the Extraordinary Entrepreneurs event last night, hosted by Women Unlimited in partnership with the British Library’s Business & IP Centre, Hall said women typically set lower expectations for themselves than men, but the extraordinary among us “set no limits”. She is encouraging more women to “think big”.
“Time and time again evidence shows that if you strive for more, you will achieve more,” she said.
“As we come out of the recession, this is the perfect time for women to fill the gaps that have been created in the market and increase their contribution to the UK’s economic recovery.”
However, a separate survey released today by the Social Enterprise Coalition found that more women are turning to social enterprise, with 26% of social businesses now owned by women.
Sophi Tranchell, managing director of Divine Chocolate, the Fairtrade chocolate company that is majority owned by the Ghanaian farmers who supply the cocoa, commented: “It is not a surprise to learn that social enterprises are a natural home for women entrepreneurs.
“They are challenging, rewarding businesses to run, and critical for our economy and society. I hope that many more women are inspired to start or work for social enterprises and the numbers continue to grow.”
The Extraordinary Entrepreneurs dinner saw nine of the UK’s most successful female entrepreneurs host tables of business women, including toptable founder and CEO Karen Hanton, Kanya King, founder and CEO of the MOBO Organisation, and Gita Patel, co-founder of Stargate Capital.
© Crimson Business Ltd. 2009