Where have all the young women gone?

Claire Mason of Man Bites Dog tells us why she thinks ambitious young female entrepreneurs are in such short supply

Claire Mason

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Claire Mason of Man Bites Dog asks why women entrepreneurs appear to be in short supply and offers thoughts to alter the status quo

As a young entrepreneur, meeting inspiring people and networking with groups like the Young Guns is one of the most fulfilling aspects of my career. So it still surprises me when I find I’m one of the only women in the room.

With women outperforming men in the education system, why is the next generation becoming less visible in corporate and entrepreneurial life?

According to the Department of Business, Innovation and Skills (BIS), the number of female entrepreneurs in the UK hasn’t risen since 2007. Furthermore, the Equality and Human Rights Commission’s recent Sex and Power survey suggests thousands of women are "missing" from the country's 26,000 most powerful posts. So where have all the young women gone?

The government had previously used funding to encourage women to set up their own business but as spending cuts have deepened, this money has dried up. This is hugely concerning as research from BIS shows that greater financial assistance would encourage more women to set up a business. The same research also suggested that help with childcare would encourage more women to become entrepreneurs. We are also more likely to use and value business support services, another victim of spending cuts.

It could be that, due to these barriers, young women are being pulled into careers rather than starting their own business. When weighing up the relative security of a career against the uncertainty of entrepreneurship, the scales can be tipped by family commitments and financial concerns.

It takes courage and determination to go it alone, but it doesn’t always have to be a dramatic leap. Some research we recently conducted proved that women make safer business drivers, but the downside is of course a reluctance to take risks. With a bit of creative thinking however, it’s possible to remove a lot of the risk from the equation.

Cloud computing has made it easier to start and run a business from home. It removes the cost of business premises and allows mothers the flexibility they need to get started. Many women I know have also chosen to freelance first. During this transition period, they can grow their business to a ‘safe’ point before taking the plunge as a self-employed entrepreneur.

As your greatest fans, customers might also be willing to invest in your business or to incubate it within theirs. A friend of mine has grown her company from one desk in the corner of her largest client’s premises to the whole floor.

Though the number of female entrepreneurs may not be growing, there are still a great number of women out there doing inspiring things. As such, the news that fewer women have applied for the Growing Business Young Guns award this year is disappointing.

Perhaps one explanation for this may be a reluctance on the part of young women to talk about ‘brand me’? Self-promotion may not come naturally to many young female entrepreneurs. Ironically as the MD of a PR consultancy, I’m still much more comfortable advising spokespeople than being the centre of attention myself – but I know that putting yourself out there can make the world of difference to a fast-growing company.

Deciding where to begin is the first challenge, so I’ve outlined five steps to help even wallflower entrepreneurs increase their profile.

1) Sell yourself

Apply for awards and accolades to generate credible, independent recognition for your strengths and achievements.

2) Take your brand social

Build your online presence by connecting with reputable channels. Focus on the networks that potential customers are engaging with and keep activity aligned to your brand.

3) Networking

This is all about face-to-face networking: meeting people, giving out business cards and getting yourself known in the right circles.

4) Invest in relationships

Take time to socialise with good contacts and maintain old links.

5) Be a super connector

Once you’ve got the hang of networking and built your own brand, it’s time to help others do the same. Introducing like-minded contacts to each other will have positive ramifications for your network too.

With this in mind, I hope to see more women in the room next year.