Women in Business could be the Key to Economic Recovery

Research has revealed that many women are empowering themselves and buying their own businesses for the first time.

The quarterly survey data shows that 41 per cent of women have never bought a business before and are starting out on their own for the first time. Whereas three times as many men have already bought four or more businesses before.

Jeremy Mandell at BusinessesFroSale.com said: ‘‘We are seeing more and more women buy businesses. I know from speaking with many small business owners both male and female that owning your own company is a very empowering feeling.’’

He adds: “Most micro-businesses are created from necessity. But it can be far more advantageous for anyone starting out in business to buy a going-concern.

The All Party Parliamentary Group for Micro Enterprises report by Lynn Martin and Bob Jerrard from MMU Business School said that: ‘Family firms account for more than 65 per cent of all UK private sector enterprises, the vast majority being SMEs/MEs’

The report also states that: ‘Over 80 per cent of women-led SMEs with employees in 2010 were MEs and were more likely to be sole proprietors. 44% of women-led SME employers wrongly perceive their businesses as social enterprises. Women directors were most likely to be found in smaller enterprises.’

The health and beauty sector is where the difference between female and male interest is most pronounced. Women are four times more likely to be interested in this sector than men.

Sarah Louise Dean said ‘The health and beauty sector can be a very profitable business, we interviewed Nicky Mowat CEO and founder of Beauty Call – a network of freelance make up professionals and hair and beauty franchises. Nicky told us that, ‘Being freelance is more beneficial because it gives you that freedom and much more creative input’

Dr Marilyn Orcharton co-founder of Denplan and champion of women in business said: ‘From my own experience women are able to run a successful business and have an active role in family life. I’m pleased to hear that more women are buying their own businesses and I’m sure they will find the experience exciting, rewarding and very fulfilling.’

The statistics show that women are sticking to areas they know well like health and beauty and catering which is good as they understand the logistics of providing such services and can therefore see gaps in the market which they can fill.

Marilyn adds: “Child care can be a nightmare for women in business but if it’s your own business you can arrange your hours to suit, even if you work late into the night at times. At least you are working for yourself!’