Women have long been a minority among entrepreneurs. But as more and more women decide to start their own businesses, this is no longer the case.
In the UK, where women entrepreneurs are choosing independence in order to better combine their career and familial lives, this tendency is particularly apparent.
According to statistics provided by trade organisation Small Business Britain and quoted by The Independent, more than 150,000 businesses were founded by British women in 2022.
That’s twice as many since 2018. Given that many women faced additional challenges during the Covid-19 pandemic, particularly with regards to childcare, this rise in the rate of female business is all the more noteworthy.
However, these particular circumstances have only increased their desire to start their own business. 39% of British women who run businesses polled by Small Business Britain stated they became independent in order to achieve a better work-life balance.
An unexpected decision considering that starting a business often requires lengthy working hours that are not conducive to family life.
A 2009 Gallup Institute survey found that 49% of Americans running small businesses work at least 44 hours each week. It may be challenging to maintain your social and family obligations.
But few women who want to start their own businesses find it to be an obstacle. Those mothers who choose to do this are referred to as “mompreneurs.”
In her book “Sociologie des Mompreneurs” [The sociology of Mompreneurs] (Presses Universitaires du Septentrion, 2019), French sociologist Julie Landour describes how many people who identify as mompreneurs claim that working for themselves allows them to better care for their families.
This is mostly due to the widespread growth of remote work, which seemingly allows these people to manage their time more effectively.
Numerous obstacles
A desire for more freedom is one of the main reasons for female entrepreneurs to launch their own companies.
25% of British women who launched their own businesses claimed they did so after the birth of their children, while 3 out of 10 said they did so because they wanted the flexibility to work from anywhere.
Regardless of their reasons, Michelle Ovens, the founder of Small Business Britain, is happy to see so many women making the decision to launch their own businesses.
“It is encouraging to learn that most women are happy for taking the plunge into entrepreneurship and enjoying immeasurable benefits in their life,” she told The Independent.
Of course, owning a business has its difficulties, particularly for women.
This might result in the underperformance of businesses founded by women, supporting the gender stereotype that business is, by nature, a more masculine activity.
Women’s goals of becoming entrepreneurs may also be hampered by obstacles such as a lack of credibility and networking difficulties.
To ensure everyone has access to entrepreneurial freedom, it is crucial that decision-makers and governmental authorities address these concerns.
