Number of female entrepreneurs has soared in the last decade

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The ‘enterprise gap’ between men and women has narrowed in the past decade, according to a new study.

Between 2013 and 2016, the number of working women going into business rose by 45 per cent, compared to the same study conducted between 2003 and 2006.

Despite this, British men are almost twice as likely as women to become entrepreneurs, with 10.4 per cent of working males identifying as an entrepreneur.

This figure is comparable to just 5.5 per cent of women between 2013 and 2016. Back in 2006, just 3.8 per cent of women identified as entrepreneurs.

The research is comprised of a report by Ashton University in Birmingham, and data from the Global Entrepreneurship Monitor, which surveys 10,000 people annually.

London, Birmingham and Leicester had the largest rates of female entrepreneurship, whilst the West Midlands had the smallest gap.

A senior researcher from Aston Business School, Karen Bonner, cites children as a reason for women to go into self-employment, which many of the female participants surveyed saying ‘they want flexibility and freedom’

Almost 100 per cent of the women surveyed made reference to freedom at work as a key reason for beginning their own business ventures, whilst 85 per cent added flexibility to their reasoning.

Emma Jones, founder of Enterprise Nation, claimed that 63 per cent of their 72,000 members are female, with an overwhelming majority of women attending their events.

She went onto explain that online retailers such as Amazon Marketplace are benefiting from female run businesses.

Financial Times spoke to Rosie Ginday, who runs her own prosecco and macaroon business.

When asked about becoming an entrepreneur, she said: “People of my generation do not expect to be in a job for long.”

“With the effects of austerity and wages not growing in line with inflation to cover living costs, people feel they’ve got a better chance doing something by themselves.”

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