CABINET OFFICE News
Release (Cabinet Office on behalf of Government Equalities Office)
issued by The Government News Network on 12 May 2008
Issued by the
Cabinet Office on behalf of Government Equalities Office
Women are voting with their feet and setting up their own
businesses to get more flexibility between work and family life,
according to a new survey of female entrepreneurs commissioned by
Minister for Women and Equality Harriet Harman.
The biggest motivation for going it alone - 70% of those polled -
was to be able to work more flexibly, with three quarters (75%)
saying work family life balance is better when you run your own
business, rather than being an employee.
Women entrepreneurs are overwhelmingly positive about the
benefits of being self-employed, with nine in ten (86%) happy to
set up their own business all over again.
Additional findings from the survey include:
* More than three quarters (78%) gained greater independence from
setting up their own business, two thirds (66%) increased
confidence, and 60% said it gave them greater self-worth.
* Other reasons for women started their own business are to be
their own boss (65%), to be able to work from home (61%), to get
more job satisfaction (53%), to achieve a better work-life balance (52%).
* The proportion of manual/unskilled (C2DE) female entrepreneurs
is increasing - 55% set up their business in the past five years,
compared with 47% of professional/skilled women (ABC1), indicating
that starting up a new business is not just for those with degrees.
Female entrepreneurship in the United Kingdom is increasing.
There are now more than one million self-employed women - a 17
percent rise since 2000. But the gap between female and male
entrepreneurship remains stubbornly wide. Despite women making up
half of the UK population, they only constitute 27% of the self-employed.
The survey marks a reception hosted tonight by Ms Harman and John
Hutton for women in business to celebrate their contribution to
the UK economy. They will announce a new publicity campaign which
will encourage more women to start up a business and direct them
to sources of help.
Ms Harman said:
"Women want to call the shots by running their own business.
They're recognising that being their own boss gives them
control and allows them to balance their work and family life.
"Mothers often tear their hair out trying to balance earning
a living with bringing up their children, and need more
flexibility from their work. Setting up their own business can be
the solution.
"But we need to encourage more women to take the plunge. Men
are almost twice as likely as women to start a new business.
That's why we are determined to close this gap by providing
solid support and encouragement."
Business Secretary of State John Hutton said:
"Increasing entrepreneurship among the UK's women
brings us huge economic benefits - maximising an untapped economic
dividend and increasing productivity.
"If the UK matched the USA's level of women-led
businesses we would have an additional 900,000 businesses and
150,000 start-ups every year. I want us to be the most
enterprising economy in the world and to do this, we need women to
start and grow their own businesses. That's why measures to
boost female entrepreneurship are central to our recent enterprise strategy."
The Government recently announced an Enterprise Strategy, with
measures to increase the number of women's entrepreneurs,
including a £12.5million Women's Investment Fund with the aim
of private sector to match the funding to develop women-led
businesses. Other measures include a pilot of US-model
Women's Business Centres and the establishment of a national
mentoring network, both of which will provide women entrepreneurs
will support and advice.
Top tips on starting out:
* Advice and support on setting up in business is available from
local Business Link offices or http://www.businesslink.gov.uk
* Find a mentor who can share their experiences of setting up a
business. Everywoman.com can help with this.
* Innovative services or products are always in demand.
Successful entrepreneurs are often those who spot a new trend or
market, or put a twist on an existing idea.
* Do initial research and seek advice alongside your day job.
This allows you to test your idea out without taking risks.
What the government is doing
As part of the new Enterprise strategy, published in March, the
Government will promote the development of women's enterprise
through a range of measures and will:
* Invest £12.5 million in a Women's Investment Fund, with
the aim of securing a total of £25 million of investment;
* Partner with the British Bankers Association and others to
Assist Women to Finance their Business through an awareness
programme of activities;
* Work with the Regional Development Agencies to pilot
Women's Business Centres, providing a supportive environment
to assist women in starting a business. A separate pilot will
provide information to women in a supportive, family-friendly
environment through Children's Centres.
* Work with external partners to champion a National Mentoring
Network for women in business, including enabling the existing
women's enterprise ambassadors to become mentors;
* Support the development of a National Women's Enterprise
Centre of Expertise to assist in building the economic case for
women's enterprise;
* Run a Media Campaign "Spark an Idea" to encourage
more women entrepreneurs. This will be run jointly between the
Government Equalities Office and the Department for Business,
Enterprise and Regulatory Reform;
* Support work being undertaken by the WEConnect organisation to
open up access to corporate and public sector procurement
opportunities for women's businesses.
NOTES FOR EDITORS
* The reception hosted by Harriet Harman and John Hutton will be
in Westminster on Monday 12th May. It will be attended by women in
business to celebrate their contribution to the UK economy and the
Ministers launched the Girls! Make your Mark awards.
* The survey was conducted online by YouGov from 30th April to
7th May 2008. Sample size 1,026 women who have started their own
business. Full results (including regional breakdown) are
available from the GEO press office.
* The Government Equalities Office is responsible for the
Government's overall strategy and priorities on equality
issues. It was established in July 2007. The Office has
responsibility for policy on gender equality, issues around sexual
orientation, and for integrating work on race and religion or
belief into the overall equality framework.
* Enterprise: Unlocking the UK's Talent was published on 12
March 2008: http://www.hm-treasury.gov.uk/media/E/3/bud08_enterprise_524.pdf
* The Girls! Make Your Mark Awards are to celebrate female
entrepreneurs and inspire a new generation: http://www.makeyourmark.org.uk
Make Your Mark is the national campaign to unlock the UK's
enterprise potential. It aims to inspire people to have ideas and
make them happen. The not-for-profit campaign is backed by a
coalition of businesses, charities, education bodies and government.
WOMEN ENTREPRENEURS SURVEY KEY FINDINGS (NATIONAL)
Surveyed: women who have started their own business.
Overall
* Nine out of ten women (86%) said that having set up a business
they would be likely to do it all over again.
Reason for women starting their own business
* To work more flexibly (70%)
* To be their own boss
(65%)
* To be able to work from home (61%)
* To get more
job satisfaction (53%)
* To achieve a better work-life balance (52%).
Work family life balance
* Three quarters (75%) felt their work life balance was better
running their own business than they did as an employee.
What women gained from starting their own business
* More than three quarters (78%) felt they had gained
independence
* Two thirds (66%) has increased confidence
*
60% said it gave them greater self-worth
What would have made it easier to start-up
* A third (34%) thought more encouragement from the Government
would have helped.
* 27% would have liked easier access to
finance
* 23% would have liked a mentor
Social class
* The proportion of manual/unskilled (ABC1) female entrepreneurs
is increasing - 55% set up their business in the past five years,
compared with 47% of professional/skilled (C2DE).
Gender
* Three quarters (74%) of female entrepreneurs felt that
successful business women have to be better than men.
Concerns when starting up
* Fear of failure - a minor concern for 44%, significant concern
for 27%. However, actual failure rates are on a par for both male
and female entrepreneurs.
Research was conducted online by YouGov between 30th April and
7th May. YouGov interviewed a sample of 1,026 UK women who have
started their own business. Results have not been weighted. YouGov
is a member of the British Polling Council.