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| YOU ARE VIEWING ARTICLE - ID:20140211022 |
|Title:||Female entrepreneurs take charge of high street growth|
|Author:||Federation of Small Businesses |
|ID & Publication:||20140211022 ~ The-Villager.co.uk |
|Subject:||Business News |
Federation of Small Businesses’ (FSB) data used in a BBC report shows the UK’s high streets have seen a dramatic number of women starting-up businesses than at any previous time. Half (49.5%) of small firms established in the past two years in retail, or hotels, catering and leisure are owned primarily by women. This is in stark contrast to high street businesses started more than 20 years ago. When the FSB last surveyed its members it found that only a quarter (24%) of these businesses were primarily female owned.
In an exclusive report on the BBC News at Six and News at Ten, 60 per cent of shops on Helmsley high street in North Yorkshire are run by women. Helmsley is representative of a wider shift across the UK with increasing numbers of female entrepreneurs driving economic growth in town centres.
Further research by the FSB shows women business owners are less likely to take financial risks, borrowing an average of £18,700 for their business compared to £28,800 borrowed by male business owners. The FSB has found that access to finance remains an issue for small firms in every sector, with 40 per cent of firms applying for finance having their applications denied.
In addition, FSB research finds women are more likely to work for a micro business than larger firms. Unemployed women are only 75 per cent as likely to secure a job in a firm employing 11 to 249 employees as they are to work in a micro firm.
Gordon Millward, Regional Chairman, Federation of Small Businesses, said:
‘How fantastic to see more women in business; in particular taking a leading-role on UK high streets. The UK’s town centres look a lot different today than even five years ago. We really need to keep small businesses at the heart of the local community generating wealth, employment and opportunity.
We are witnessing a welcome change with more women entrepreneurs establishing businesses than at any time before. And it is striking how this trend seems to be speeding up since the recession – it shows many women have the guts and a real entrepreneurial spirit.’
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