Research which surveyed 220 female entrepreneurs has revealed that a large number of the female business owners struggle to take their business beyond the start-up stage and onto the next stage of development. However, according to Enterprising Women who conducted the survey, if female business owners were to fully develop their potential they would contribute £323 million to the economy, generating over 3,500 jobs over a period of three years.
Enterprising Women, a business support network will be holding workshops in Norwich, lasting for one day to help women business owners to develop their full potential and boost their companies. Struggling to achieve a balance between their work and home lives was a barrier to development for 39 percent, a significant number. Additionally, 37 percent don’t have a clear directive for growth of the business in the future, while 45 percent were concerned about maximising their marketing budget to achieve a high return on investment. Sales proved to be a source of concern for 41 percent of the respondents, exacerbated by the fact that a high number of females were operating in sectors which are highly competitive.
Enterprising Women founder, Bev Hurley said:
“And despite government stating that rebalancing the economy and stimulating private enterprise, competitiveness and productivity is a priority, the growth plan does little to address the growth potential that could be unlocked from the SME economy by female entrepreneurship in this country.”
Hurley further stated that female entrepreneurs are resourceful, steering their businesses through the challenging times and the prosperous times.