Female entrepreneurs on the rise
Breaking through the glass ceiling is now more feasible than ever for the thousands of women launching businesses across the UK.
According to new research by the Federation of Small Businesses (FSB), nearly 50 per cent of SMEs established in the retail, hospitality, catering and leisure sectors in the last two years are owned by women.
Among the regions, North Yorkshire ladies have proved especially entrepreneurial, claiming ownership over 60 per cent of the Helmsley high street shops.
The start of a new era
John Allan, FSB national chairman, commented on the news:
“How fantastic to see more women in business; in particular taking a leading role on UK high streets. The UK’s town centres look a lot different today than even five years ago. We really need to keep small businesses at the heart of the local community generating wealth, employment and opportunity.
“We are witnessing a welcome change with more entrepreneurs establishing businesses than at any time before. And it is striking how this trend seems to be speeding up since the recession – it shows many women have guts and a real entrepreneurial spirit.”
Access to growth opportunities
However, further findings indicate that female-run businesses may take off at a slower rate because women tend to take fewer financial risks. The FSB revealed that female business owners borrow an average of just £18,700, substantially less than the average loan value of £28,000 for male business owners.
Indeed, thorough risk management protocols should be a key concern for anyone hoping to establish stable businesses. But in order to truly change the face of British business by growing their firms into major economic drivers, female entrepreneurs should be encouraged to embrace the new low-risk lending opportunities from the government and other alternative funding sources.