Number of female entrepreneurs increasing, according to HSBC report

The number of young female entrepreneurs in the UK is rising, according to a report from HSBC. The report, which was released on International Women’s Day, showed that the proportion of female entrepreneurs has almost doubled with each generation.

The findings were backed up by new research from Crunch Accounting, which showed that the number of females choosing to start their own business has increased by 42 per cent since 2010, with nearly a third of start-ups now being founded by women.

Higher turnover

Research from HSBC showed that the proportion of females starting their own business is now up from 16 per cent of founders being aged over 55, to 30 per cent of founders being aged between 35 and 54, and to 59 per cent of founders now being aged under 35.

Female entrepreneurs also had a successful 2015, building businesses with a higher turnover than male businesses owners. Female business owners were found to have achieved an average turnover of £4.1 million last year, compared to the £4 million achieved by male business founders.

The study also looked at the main reasons for women starting up a business, with 78 per cent stating that they started their own business to “do the best for their family.”

Forging ahead

HSBC Private Bank UK CEO Chris Allen commented on the findings, stating that gender diversity is changing amongst entrepreneurs in the UK.

“This emergence of female entrepreneurship reflects how women are forging ahead with their passions and succeeding in business,” he said.