Female business owners are more likely to find inspiration from peers

Thursday 6 October 2016

Research conducted by Vistaprint, the business card printing company,  found that female business owners were more likely to look to their peers for inspiration.

The research found that 49 per cent of British women who run their own enterprise were more likely to get inspiration from friends and family instead of famous female entrepreneurs.

Also, the study found that the number of women-owned micro businesses was increasing in the UK, and 60 per cent of female business owners expect their businesses to grow exponentially over the next few years. Additionally, 54 per cent of UK female business owners have high expectations for their enterprise.

The vast majority of female participants in the report stated that running their own business helped them to gain personal satisfaction and achieve their career goals.

They also stated that running a business had a positive effect on family life. Vistaprint reported that 72 per cent of female entrepreneurs believe that running their own business is good for the work-life balance, especially with the right support systems in place in order to enable this.

Vistaprint published its findings in its report titled Woman-Owned Micro-Business: Trend Report. It clearly reflects a rising trend in the number of women who are becoming much more entrepreneurial, and the number of mothers - known as mumpreneurs - becoming business owners.

Since 2008, the number of women who have started up their own enterprises or have become self-employed has risen by more than 40 per cent. Females now account for 54 per cent of the rise in self-employment, indicating the significant impact women entrepreneurs have made to the UK economy.

The Royal Bank of Scotland (RBS) estimates that boosting female entrepreneurship could add an extra £60 billion to the UK economy.
This trend is set to continue over the next several years. Around half of the working population in the UK will be self-employed, and the number of women in entrepreneurship will continue to rise.

By Victoria McDonnell

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