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Latest News / UK’s female entrepreneurs predict five year financial growth

 

A new study has found over half (54%) of micro businesses (a business with less than ten employees) founded and run by women in the UK anticipate financial growth in the coming 12 months, whilst 62% said they predict financial growth over the next five years.

Vistaprint’s Women-Owned Micro Business Trend Report interviewed more than 500 women from the UK running micro businesses to gain insight into the trends impacting their experience of business.

The report also revealed that almost 70% have an annual income of less than £35,000 (US $43,000), with one in five undertaking paid employment as a source of supplementary income.

Global data shared in the report about the types of support that women felt would best help them succeed in achieving their micro business objectives included: networking and mentoring opportunities, highlighted by 34%; advice from other micro business owners, 33%; tax incentives, 33%; and, support from local or national micro business associations, 30%.

The two main barriers faced by women-owned micro businesses globally included work/life balance, which impacted 62%, and limited access to funding, 50%. Gender discrimination ranked third at 35%.

Women running micro businesses in the US also feature in the report, which can be accessed here.

 


 

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