The rise and rise of women entrepreneurs

The results of research just published by Aston University show there are more women setting up their own businesses than ever before. In the 10 years between 2006 and 2016, the number of women ‘early stage’ entrepreneurs rose by 45%, compared with 27% of men.

At the moment, there are nearly twice as many men than women entrepreneurs, but with the gap closing all the time, it can’t be long until there’s parity.

The study found that women in the South East are more likely to set up their own business, and that fits in with our own experiences of the kind of small business owners who are interested in office space at UOE.

Crafty women

The online marketplace notonthehighstreet – which was set up by two women – has seen a boom in entrepreneurs using the website to sell their goods, from 287 in 2006 to more than 5,700 in 2016 – and 89% of their partners are women. The company’s chief executive, Simon Belsham, told the BBC: “In the last 10 years, thousands of creative small businesses have emerged all over the UK, creating jobs, driving wealth creation and contributing significantly to the economy. Perhaps most importantly, however, these businesses are highlighting the huge change under way in the UK workforce – a transformation that is seeing more women in work and more people turning to self-employment and flexible working.”

The only way to close the pay gap

So why are more and more women setting up their own business? It could have something to do with the gender pay gap. The UK has one of Europe’s largest pay gaps between men and women when it comes to managerial roles, with a long way to go before there is equality – it is predicted that it will be at least 2031 before the sexes see parity in any industry. It is therefore unsurprising that women are opting out of a system that devalues them purely because of their gender.

Whether you’re a woman or a man, if you’ve just set up your own business and are looking for an affordable office space, contact us to arrange a tour of the UOE Hub.