According to a survey conducted by the Women’s Enterprise Task Force (WETF), businesses run by women contribute £130 billion annually to the UK economy: an amazing feat considering that women are only half as likely as men to set up a business to begin with.
Overall, male entrepreneurs drastically outnumber female entrepreneurs, which make up only 13.6% of the demographic. Female-owned businesses are also more likely to be in sectors that are more vulnerable in recession.
The study also seems to show Government-bias in favour of male-owned businesses. While 16% of businesses are female-owned, only 3% are awarded public sector contracts.
Despite the difficulties posed by the recession and possibly gender, the survey showed that women who own growth-orientated enterprises are generally optimistic about the sustainability of their business and their capacity for drawing in new custom. The study also showed that expanding female-owned businesses have succeeded in producing similar rates of growth to their male counterparts.
For more information about the survey visit: www.womensenterprisetaskforce.co.uk/wetf_recession_research.html