North-West Development Agency (NWDA) meeting (5th June 2006)Marie and I have just returned from a meeting with one of our DW project Steering Committee members; Yvonne Sampson, the NWDA's Regional Women's Enterprise Development Officer. Yvonne's primarily strategic work relates to the North-West's Regional Economic Strategy (RES) which includes encouraging an increase in women-owned business (in all sectors) to at least the national average of 15%.
Yvonne was extremely helpful and gave us a number of contacts in the North-West who may be able to help the DW project find female ICT 'leavers' (women who have left the ICT industry, and are unlikely to return).
One topic of conversation was about women leaving the ICT industry to set up their own businesses, either in ICT or in another sector. This led us to think about women-owned businesses and and problems faced by female entrepreneurs, issues we had come across during our previous Women in IT (WINIT) project (March 2004-March 2006). It will be interesting to 'find' some disappearing women who left the ICT sector to set up their own businesses, to see what kinds of barriers they may have faced, and whether they feel their time in ICT helped or hindered their entreprise activities.
Please find below a few key facts about women-owned businesses:
Women are half as likely to be involved in start-up activity as men. Independent start-up activity amongst women is 3.1% of the female adult population but is 6% amongst men, while the equivalent figures for job related start-ups are 1.3% and 2.6%. (Global Entrepreneurship Monitor, GEM, Jan 2004)12 – 14% of businesses are majority owned by women (A Strategic Framework for Women’s Enterprise, Small Business Service, 2003) If women started businesses at the same rate as men, we would have 150,000 extra start-ups each year. (Rt Hon Jacqui Smith, Minister for Women and Equality speaking at 2nd Prowess conference) 54% of women start a business so they can choose what hours they work, compared to only 35% of men. (Women & Men Business Owners in the United Kingdom) 21% of women state family commitments as a reason for becoming self-employed compared to only 2% of men (A Strategic Framework for Women’s Enterprise, Small Business Service, 2003)Female entrepreneurs are more likely to a product of service unfamiliar to the market, to have fewer competitors, and they are more likely to be using technology in their products or services than their male counterparts. In addition they are more likely than male businesses to be offering a product or service to the market that has been developed in the last year. (Achieving the Vision, Female Entrepreneurship British Chambers of Commerce, July 2004)Majority female-owned businesses pay significantly higher margins on term loans than male-owned businesses (2.9 versus 1.9 percentage points over Base). (Dr Stuart Fraser, Finance for Small and Medium-Sized Enterprises, 2005) (Taken from Prowess, a UK organisation which supports women-owned business
http://www.prowess.org.uk/facts.htm)
You can find out more about the North-West Development Agency's work by visiting
http://www.nwda.co.uk/