Research Reveals Sharp Increase in Women Establishing Businesses to Enhance Work-Life Balance
Small Business Britain, an industry organisation, has released data highlighting a significant uptick in women across the United Kingdom initiating their own enterprises, often driven by their desire to enhance work-life balance.
In 2022, over 150,000 new companies were founded by women, as revealed in the most recent Rose Review.
The research indicates a "marked rise" in the number of female entrepreneurs, and this positive trend persists despite the notable financial challenges associated with a new business venture.
Michelle Ovens, the visionary behind Small Business Britain and the f-entrepreneur campaign, expressed her satisfaction with this trend, stating that it is "uplifting" to hear that newly established female business owners report increased happiness, even amid the challenging economic landscape.
The research conducted by Small Business Britain unveiled that 39% of female entrepreneurs cite a desire to enhance their work-life balance as the primary driver behind their decision to embark on their entrepreneurial journey.
It's truly heartening to learn that a majority of women find increased happiness and immeasurable personal benefits after venturing into entrepreneurship.
In 2022, more than 150,000 women launched new enterprises, a number more than twice that of 2018, as documented in the latest Rose Review. This remarkable growth persists despite the numerous challenges faced by small businesses.
Despite the economic hurdles that business owners must navigate, it remains heartening to hear that the entrepreneurial spirit is providing women with increased satisfaction and substantial personal rewards.
Mireya Quiton Tuijtelaars, the founder of Mia Strada London, shared her journey, saying, "I started my business to generate an income whilst also looking after my children, as I faced major challenges with the cost of childcare, and it didn’t make financial sense to go back to my previous role."
"I had a passion for natural gemstones and found there was an underserved market for socially and environmentally conscious products."
"I am so much happier, having been able to create a business that allows for a better work-life balance."
"To be working in something I really believe in is such a delight. I can’t say it is, or has ever been, easy but it is definitely rewarding."
This research coincides with the commencement of applications for Small Business Britain's annual #Ialso100 campaign, which celebrates the accomplishments of the UK's top 100 female business leaders.
Article by The Independent
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