More women thinking about setting up a business in the last year than men

  •  1-in-11 women thinking of setting up business for first time in the last year
  • 21% of women expecting pay rise at work compared to 29% of men

Twelve percent more women than men have thought about setting up their own business in the last year according to a poll of more than 4,000 UK adults.

One-in-11 women (9%) thought about setting up their own business for the first time in the last year compared to 1-in-13 men (8%) according to polling commissioned by financial consultants Mushroombiz and female finance campaign group The WealthiHer Network.

Some 22% of men and 21% of women said they had thought about setting up a business before last year suggesting an increasing number of women are thinking about setting up their own business.

It compares to just 1-in-14 (7%) of men and women thinking about setting up their own business for the first time in the previous 12 months in 2021.

The Yonder poll of 4,165 British adults also found that just one-in-five (21%) women expected a pay rise this year compared to one-in-three men (29%).

Ed Surman, Managing Director of Mushroombiz, said:

“It is great to see an increase in women looking to get into business. It is now down to all of us to give them the tools necessary to make the jump.”

Founder of The WealthiHer Network Tamara Gillan said the news is both promising and worrying.

She said: 

“It’s great to see so many more women thinking about setting up a business for the first time. But we still need to overcome the systemic barriers that female entrepreneurs face. Women continue to struggle to get the funding they need to get off the ground and grow. This needs urgent attention and a united approach.”

Backed by leading financial institutions including HSBC Private Banking, Royal Bank of Canada, and St James’s Place Wealth Management The WealthiHer Network aims to drive the financial empowerment and financial advancement of women on a global scale.

Mushroombiz provides professional services and business support to SMEs.

 

BY REBECCA TOMES
(IFA Magazine)


Story originally appeared on fca.org.uk

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