BUSINESSWOMEN are increasingly becoming growth drivers and job creators in the UK, according to new research published by the Federation of Small Businesses, involving the University of Portsmouth.
A new report from the FSB called Supporting Women’s Enterprise in the UK: The Economic Case shows that women-owned businesses are contributing £105bn to the UK economy, an increase of 40 per cent since comprehensive data was last analysed. This equates to women owned businesses contributing £36k GVA for each person they employ, 6.3 per cent of total UK GVA.
David Pickernell, professor of small business and enterprise development, said: ‘This research is important because it highlights areas where more and better data is required to fully explore the importance of female owned and led SMEs to the UK, and also because the available data suggests this importance is growing.
‘This research reinforces the need for better data and policy to provide the support and resources women-owned business can use to further strengthen their beneficial economic and social impact.’