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According to recently released data from Simply Business, a broker for business insurance, females are responsible for 37 percent of new start-ups in the UK. In 2011 43,000 women became sole traders against the 2010 figure of 34,000. The data was gathered from 117,000 requests for business insurance from newly self employed individuals, with women who had a service led business or creative business were responsible for a 12 percent growth in sole trader figures.

An increased number of females are setting up their own businesses as hair dressers, beauticians, caterers or pet sitters. During the period of October 2010 to October 2011, 4.1 million people registered as self employed, which is a record high. Figures released from Companies House database confirm the increased number of micro businesses, with figures on 18th December revealing 2.5 million active accounts.

Dr Richard Roberts, SME analyst for Barclays said that the number of self employed traders is ‘in the middle of a boom.’ However, Roberts does point out that the increased number of self employed may be due to the increase in unemployment which results in a different career path for some. Simply Business believes that the real force behind start ups is women who have an innate skill for spotting “emerging lifestyle trends.” The tenth most popular trade for females entering self employment is accountancy. Figures also reveal that the number of female self employed lawyers has also increased by 16 percent in the last year.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

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