So it’s official – according to the recent Women’s Enterprise Task Force (WETF) report, woman-led businesses are not charged more by banks for finance and may, in some circumstances, even pay less. We’re seen as ‘lower risk’; better at making repayments and business planning; and we’re more likely to get our finance from banks full stop. Encouraging news for start-ups especially as only 28% of the self-employed are women.
However, it’s also been recognised that we’re less likely to access venture capital and equity funding, useful for when you want to grow your business. In our experience, which doesn’t reflect the findings of the Task Force report, it isn't so much that women ‘lack the confidence’ to apply for funding. The problem is that typically the nature of their businesses and their ambitions to grow, means that equity finance is not appropriate for many women.
And according to the Quarterly Survey of Small Business in Britain report, 48% of women-led small businesses are content to remain the same size – and that growth isn’t on the agenda. So isn’t the issue about supporting enterprising women's growth ambitions and enabling access to the right finance?
At Enterprising Women, we run a woman-specific access to finance programme which can help you to access the right finance which is appropriate for your business, whether debt or equity.
Friday, 31 July 2009
Wednesday, 29 July 2009
Aspirations come from Mum
Following on from our last blog about aspirations and social mobility, I heard a snippet of information on the radio … “children’s educational aspiration is directly linked to their mother’s educational aspiration level.”
This ‘sudden statement’ from Radio 4 meant, in my mind, that science and the Beeb, and therefore by default, the government, had finally caught up with what any of us working in any kind of ‘women’s development’ area have known for ages!
I began some research into the subject and according to academic reports, if a Mum goes back to ‘learning’ of any kind it has a really positive impact on her children’s attitude to education. In other words, “If Mum can do it, it must be OK, so I want to do it!”
I then started thinking about enterprise, as we work in the promotion, support and creation of women’s enterprise activity. If Mum returning to education can have such a positive, and now acknowledged impact on their children’s learning aspirations, then the same can surely be said of enterprise. If Mum decides to start a business, no matter what that business is, then her children are more likely to view enterprise in a positive light and see it as something that they can do – and might actually WANT to do.
So, to all the policy makers out there: to all the funders and decision makers who are steering the ship of economic development through the wreckage of previous attempts to ‘raise aspirations’, ‘create an entrepreneurial society’ and ‘effect change at grass-roots level.’ It all seems blindingly obvious: Support a woman to start a business and you will change the entrepreneurial aspirations of her children. I’d take it a step further … support a woman in any way to develop herself socially, economically, educationally, financially, and you will positively impact on, and change the attitude and aspirations of her children.
This ‘sudden statement’ from Radio 4 meant, in my mind, that science and the Beeb, and therefore by default, the government, had finally caught up with what any of us working in any kind of ‘women’s development’ area have known for ages!
I began some research into the subject and according to academic reports, if a Mum goes back to ‘learning’ of any kind it has a really positive impact on her children’s attitude to education. In other words, “If Mum can do it, it must be OK, so I want to do it!”
I then started thinking about enterprise, as we work in the promotion, support and creation of women’s enterprise activity. If Mum returning to education can have such a positive, and now acknowledged impact on their children’s learning aspirations, then the same can surely be said of enterprise. If Mum decides to start a business, no matter what that business is, then her children are more likely to view enterprise in a positive light and see it as something that they can do – and might actually WANT to do.
So, to all the policy makers out there: to all the funders and decision makers who are steering the ship of economic development through the wreckage of previous attempts to ‘raise aspirations’, ‘create an entrepreneurial society’ and ‘effect change at grass-roots level.’ It all seems blindingly obvious: Support a woman to start a business and you will change the entrepreneurial aspirations of her children. I’d take it a step further … support a woman in any way to develop herself socially, economically, educationally, financially, and you will positively impact on, and change the attitude and aspirations of her children.
Wednesday, 22 July 2009
Social mobility - it’s all about your aspirations
'Birth, not worth, has become a key determinant of people’s chances,’ are the words of former Labour MP Alan Milburn, as the heated debate about social mobility, or lack of it, rages on.
But instead of pulling apart our schools and businesses, why not look instead to our own aspirations and children’s aspirations? Ask yourself what you want out of life and how you are going to realise your ambitions to make your business work?
In Britain today, maybe the real problem isn't social mobility. Maybe that’s the symptom or a catch 22. The problem is the lack of aspiration, the indifference, the apathy. Attitudes and work ethics are changing and the ‘get-up-and-go’ is lacking in so many people. There are many reasons which could be attributed to this: the recession, unemployment or it could be a general outlook on life and the belief that we can’t achieve our goals because of who we are and where we’re from.
Aspirations are what drive people and especially entrepreneurs and the concept of social mobility, or the lack of it, is a direct result of our mindset.
But instead of pulling apart our schools and businesses, why not look instead to our own aspirations and children’s aspirations? Ask yourself what you want out of life and how you are going to realise your ambitions to make your business work?
In Britain today, maybe the real problem isn't social mobility. Maybe that’s the symptom or a catch 22. The problem is the lack of aspiration, the indifference, the apathy. Attitudes and work ethics are changing and the ‘get-up-and-go’ is lacking in so many people. There are many reasons which could be attributed to this: the recession, unemployment or it could be a general outlook on life and the belief that we can’t achieve our goals because of who we are and where we’re from.
Aspirations are what drive people and especially entrepreneurs and the concept of social mobility, or the lack of it, is a direct result of our mindset.
Thursday, 16 July 2009
Role models inspire success
Do you have somebody who inspires and motivates you, someone who focuses you on achieving your ambitions and goals? Be it in sport, music or business, role models play a large part in our lives.
This week, Dame Judi Dench was named the nation's favourite female role model in a poll conducted for A Woman of Substance awards. She was followed by Joanna Lumley and Julie Walters, with JK Rowling, author of the legendary Harry Potter, and round-the-world yachtswoman Ellen McArthur in joint fourth place. The 1,000 British women polled, aged between 18 and 65, also named the Queen, Dawn French, Lady Thatcher and Paula Radcliffe as top ‘women of substance’.
Many of us are also inspired by the success and determination of people who may not be famous, but have achieved a great deal. Such inspirational women feature in Management Today magazine's annual list of top 35 young businesswomen. 19-year-old Ruth Amos is the youngest entrant with her successful StairSteady business, a huge achievement which we’re sure will inspire many other teenagers to start up their own businesses.
And we also think that Jamie Neal is an inspiration after his resilience, resourcefulness and determination helped him survive a fortnight in the Australian bush. Surviving tough times is a test of character and having the drive and courage to go forward can bring positive results.
Tell us about what inspired you to set up your business and who or what drives your ambitions?
This week, Dame Judi Dench was named the nation's favourite female role model in a poll conducted for A Woman of Substance awards. She was followed by Joanna Lumley and Julie Walters, with JK Rowling, author of the legendary Harry Potter, and round-the-world yachtswoman Ellen McArthur in joint fourth place. The 1,000 British women polled, aged between 18 and 65, also named the Queen, Dawn French, Lady Thatcher and Paula Radcliffe as top ‘women of substance’.
Many of us are also inspired by the success and determination of people who may not be famous, but have achieved a great deal. Such inspirational women feature in Management Today magazine's annual list of top 35 young businesswomen. 19-year-old Ruth Amos is the youngest entrant with her successful StairSteady business, a huge achievement which we’re sure will inspire many other teenagers to start up their own businesses.
And we also think that Jamie Neal is an inspiration after his resilience, resourcefulness and determination helped him survive a fortnight in the Australian bush. Surviving tough times is a test of character and having the drive and courage to go forward can bring positive results.
Tell us about what inspired you to set up your business and who or what drives your ambitions?
Wednesday, 8 July 2009
From Graduate to Entrepreneur
This week, the media has been reporting that our graduates will have a tough time finding a job in the current economic climate after leaving university. But is it really all doom and gloom or can new opportunities be explored, benefiting graduates, the economy and existing businesses?
Could this be the time for young people to rely more on their own ideas, to create opportunities for themselves and be proactive? Well, according to a recent article, many are doing this already. Apparently the recession is having little or no effect on the young entrepreneurs of the future who seem to be thriving on the current economic challenges.
Many are using the recession to identify new business opportunities and technology to give them a competitive edge, in contrast to their more mature counterparts who are apparently tightening their purse strings to ride out the recession.
This proactive attitude could be attributed to young people being at a time of their lives when risk is minimal – many don’t have children or mortgages – and the world is their oyster. Some of the world’s most innovative ideas have come from students including Facebook and Google.
Alternatively, a Graduate Talent Pool Initiative is being launched by the government this month to support businesses during the economic downturn whilst also enabling graduates to improve their employability skills.
So there are options out there – whether you want to start-up your own business or look into the Graduate Talent Pool Initiative. If you are a young entrepreneur, we would love to hear from you. For more information on business start-up and growth, visit Enterprising Women.
Could this be the time for young people to rely more on their own ideas, to create opportunities for themselves and be proactive? Well, according to a recent article, many are doing this already. Apparently the recession is having little or no effect on the young entrepreneurs of the future who seem to be thriving on the current economic challenges.
Many are using the recession to identify new business opportunities and technology to give them a competitive edge, in contrast to their more mature counterparts who are apparently tightening their purse strings to ride out the recession.
This proactive attitude could be attributed to young people being at a time of their lives when risk is minimal – many don’t have children or mortgages – and the world is their oyster. Some of the world’s most innovative ideas have come from students including Facebook and Google.
Alternatively, a Graduate Talent Pool Initiative is being launched by the government this month to support businesses during the economic downturn whilst also enabling graduates to improve their employability skills.
So there are options out there – whether you want to start-up your own business or look into the Graduate Talent Pool Initiative. If you are a young entrepreneur, we would love to hear from you. For more information on business start-up and growth, visit Enterprising Women.
Thursday, 2 July 2009
Is running your own business the answer to a good work/life balance?
The continued existence of discrimination against women who take maternity leave has been brought to the forefront by the launch of The Alliance against Pregnancy Discrimination in the Workplace. This campaign was launched last month in response to the sharp increase reported in the number of women losing their jobs during pregnancy or maternity leave .
According to the Equality and Human Rights Commission, about 30,000 women lose their jobs as a result of pregnancy every year. And it’s feared this number will increase during the recession with many mothers-to-be reportedly being first in line to be considered for redundancy.
Pregnancy and maternity leave are seen as huge barriers to women progressing to senior levels of business. We need to question why women are still in danger of being sidelined, missing out on promotion, being made redundant or having their commitment doubted for having a baby. Surely women don’t have to choose between their career or a family? It’s possible to do both, but how many women actually get the opportunity and support within their workplace to do it?
Juggling family and work commitments is common for many mothers and fathers too. And often, having your own business can mean more flexibility. However, conversely starting up your own business is extremely hard work and many treat it like their baby, with little time to do anything else.
So what are your views and experiences on pregnancy and maternity leave with regard to your career? And if you have your own business, do you find it a more or less flexible set up?
According to the Equality and Human Rights Commission, about 30,000 women lose their jobs as a result of pregnancy every year. And it’s feared this number will increase during the recession with many mothers-to-be reportedly being first in line to be considered for redundancy.
Pregnancy and maternity leave are seen as huge barriers to women progressing to senior levels of business. We need to question why women are still in danger of being sidelined, missing out on promotion, being made redundant or having their commitment doubted for having a baby. Surely women don’t have to choose between their career or a family? It’s possible to do both, but how many women actually get the opportunity and support within their workplace to do it?
Juggling family and work commitments is common for many mothers and fathers too. And often, having your own business can mean more flexibility. However, conversely starting up your own business is extremely hard work and many treat it like their baby, with little time to do anything else.
So what are your views and experiences on pregnancy and maternity leave with regard to your career? And if you have your own business, do you find it a more or less flexible set up?
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