Student and Graduate Publishing

Female Entrepreneurs Set to Double

Thursday, 07 November 2013 15:06

Over the next 30 years the number of female entrepreneurs is set to nearly double. A new report captures the outlook of the next generation of women workers

A major new report reveals the UK is set to see an explosion of female enterprise over the next few decades, led by a ‘world is my oyster’ (WIMO) generation of spirited young women. A Report by Dr Alexandra Beauregard of the London School of Economics, indicates the number of female entrepreneurs looks set to nearly double over the next few decades. Research carried out by Dubit amongst 2,000 16-24 year olds reveals that the youth of tomorrow are looking to seize control of their own future through enterprise. Despite entrepreneurship traditionally being a male dominated world, key findings from the research, which are analysed in the Avon Inspiring Tomorrow’s Women Report, support the predicted narrowing of the gender-based enterprise gap. Almost two thirds (60 per cent) of the young female WIMOs who participated in the research expressed an interest in setting up their own business.

The attitudes of the WIMO generation of entrepreneurs recorded in the research demonstrate a readiness to work hard and make sacrifices in order to achieve career fulfillment. The research reveals that:

• Almost three-quarters (72 per cent) of the young women who participated ay being their own boss appeals to them, suggesting the next era of the UK’s workforce will be characterised by an explosion of enterprising women.

• However, less than a third (28 per cent) of the young women questioned felt there was sufficient advice from the government on this subject to assist their drive for enterprise.

• The focused and determined WIMO generation of women see their career as character defining, with 85 per cent of those questioned saying it’s important to them to have a job in which they can achieve something significant and almost two thirds (61 per cent) were willing to work two jobs at once.

• With over three quarters of the young women (76 per cent) questioned believing the job market is at saturation, many believe being their own boss is a realistic alternative to the current overloaded job market.

In terms of drivers, the influence of the family is key for the majority of tomorrow’s female entrepreneurs.
 Well over half (57 per cent) of the young WIMO women studied consider their parents to be role models in terms of work and career. In addition, with many having seen their mothers strive to marry career ambitions with family demands, a desire for greater balance between work and personal life is demonstrated, with 58 per cent of both young women and men agreeing that self-employment will provide them with the chance to build a life outside work.

Dr Alexandra Beauregard, Department of Management at London School of Economics has said:

“In the harsh light of today’s economic realities, Avon’s research reveals young women are well aware of the challenges that face them, and are prepared to meet those challenges head-on. If the world is where we seek our fortune, then this is the WIMO – the ‘world is my oyster’ – generation. With hard work and determination, these women will prise open the shell of the economic downturn and extract the pearl of satisfying work combined with a meaningful family life.”

Karren Brady, businesswoman and Avon mentor says:

“Avon’s Inspiring Tomorrow’s Women Report shows that young women are more determined than ever to be in control of their own destiny. As a result they are defining the next generation of entrepreneurship and rewriting the rules in this perceived male dominated world. It’s great to see Avon encouraging the next generation of female industry leaders and I’m proud to be playing a role in inspiring the enterprising businesswomen of tomorrow.”