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Women account for nearly a third of self-employed

Women account for nearly a third of self-employed

Women make up nearly a third of all self-employed, according to research from insurance company Towergate.

The amount of women in self-employment has risen significantly over the past eight years, increasing by 40 per cent, compared to a 13 per cent increase in the total of self-employed men over the same period.

Trend

Female-led businesses have become a trend in recent years, with research from the Department for Business, Innovation & Skills in 2014 showing that 20 per cent of single-person businesses were owned and run by women, equating to 1.1 million SMEs.

Businesses that were at least partly run by women made up 38 per cent of all SMEs in 2014, which equated to 2 million SMEs.

According to Towergate’s research, 28 per cent of SME insurance policyholders are women, with retail being revealed to be the most common sector for business policies.

The 40 per cent rise in the number of self-employed females means that they now account for 32 per cent of all self-employed people, up from 28 per cent before the recession.

Engine

Towergate’s Annie Plaskett commented: “Over the past few years we’ve witnessed huge increases in women taking the plunge and starting their own businesses.”

She stated that small businesses are essential drivers of the UK economy, adding that with the growth of female-led SMEs outstripping those led by men, it’s apparent that women are at the head of this drive.

“At Towergate, we are keen to encourage aspiring female business owners across the country to take even a seed of an idea and turn it into a viable and profitable business proposition,” she added.


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