In Focus Collections
Female-led firms
Women-owned businesses contribute £105bn to the UK economy, but some sectors remain elusive
Nicola Mendelsohn Vice president EMEA, Facebook
Women are increasingly becoming the job creators and growth drivers in the UK, according to new research from the Federation of Small Businesses. A new report, Supporting Women’s Enterprise
in the UK: The Economic Case, shows that women-owned businesses are now calculated to contribute a staggering £105bn to the UK economy, an increase of 40% since comprehensive data was last collected and analysed. This equates to women-owned businesses
contributing £36k gross value add (GVA) for each person they employ, 6.3% of total UK GVA.
Manufacturing decline Despite the rise in female founders overall, the proportionate contribution from women- owned businesses in manufacturing has declined. Worryingly, the report findings show that over the period studied (2012 to 2015) there has been a reduction in the contribution of the manufacturing sector to women owned businesses’ GVA, from 14.9% to 11%, and proportion of employment, from 8.7% to 7.1%. This is concerning because manufacturing
is a relatively high-profit sector. A larger proportion of women-owned businesses are in the care sector, which has low profit. The contribution women make to the UK
economy is even more significant when the estimated GVA of women-led businesses is included. The research shows that women-led and women-owned businesses are estimated to contribute £221bn representing 13.3% of total GVA. Across UK nations, using available data,
the estimates show that Wales (7.24% of GVA) and Northern Ireland (9.23% of GVA) lead the way in the contribution women-
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owned businesses make to their economies. Northern Ireland has seen the biggest increase since 2012, with just under 4% increase in GVA.
Until that changes we need to find ways
to get behind the women who want to step forward and lead, to give them the skills and courage to succeed. Through our
This is concerning because manufacturing is a relatively high profit sector. A larger proportion of women-owned businesses are in the care sector, which has low profit
Imbalances We all have a role to play in addressing the diversity imbalances that exist around the world. It is unacceptable that our culture is still hard-wired against women in leadership roles.
www.CCRMagazine.com
#SheMeansBusiness programme, which empowers thousands of entrepreneurial women by offering them training, tools, and practical advice, we discovered that one of the main barriers holding women back is a lack of confidence and digital skills. Together with the Federation of Small
Businesses, Enterprise Nation and AllBright, we have already trained 13,000 women in the UK this year, providing them with the tools, networks and know-how to start a business and to grow it. We certainly have big ambitions for 2019
and I cannot stress enough how important it is to work together to achieve change. CCR
December 2018
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