Increasing flexibility encourages female start ups
October 31, 2006
Flexible working is the key reason for a nine per cent increase in female-owned start-up businesses, according to Barclays.
A report by the bank into new UK businesses showed that 38,100 women set up their own firms during the first six months of 2006, up on 34,600 in the same period in 2005.
Barclays Local Business marketing director, John Davis, said: "Business start ups in sectors such as property services, which includes interior design and property development, offer increasing flexibility and are proving very popular with women who are often juggling careers and family commitments.
"There are fewer barriers to entry for women and they are taking advantage. In many areas, women are taking the lead and demonstrating how much they can contribute to the UK economy.
"I am sure in a few years time, that in some areas of the market, more businesses will be started by women than men," he added.
The bank’s figures showed that, in some areas of the UK, business start-up rates for women were growing faster than among male counterparts. The start-up rate for men in the East Midlands the start-up rate for men was eight per cent, compared to 11 per cent for women; London was ten per cent for men compared to 16 per cent for women; while Yorkshire was 16 per cent for men and 23 per cent for women.
The success of female entrepreneurship has contributed to an increase in business ownership. The total number of businesses started in the UK during the first half of 2006 was 205,000, compared to 183,800 during the same period in 2005.
Marla Nelson, deputy director the Women’s Business Development Agency, said: "Women have always had a great aptitude for enterprise and the Government is starting to recognise their potential. There is more structured female-friendly support out there now via the Regional Development Agencies, which have women enterprise co-ordinators."
However, Nelson warned there was still be some way to go. "There are still a lot of barriers to women starting in business, such as a lack of support and a lack of finance. Women need to have more family-friendly provisions so that they can juggle their caring responsibilities. Women could also benefit from appropriate business role models and measures to boost their self-esteem."
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