News

Business leaders call for National Women's Enterprise Commission

SEEDA pledges 10,000 more women-owned businesses

Green shoots

RDAs welcome multilateral vision for women’s enterprise

Sharp increase in enterprise aspirations of young women

'Del Boy' label ain't working for women

Financial shortfall hindering women-owned firms

Is the business baton being dropped for women?

Prowess Members Survey - Results

Prowess Awards for Outstanding Contribution to Women's Enterprise Development 2006

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News

Business leaders call for National Women's Enterprise Commission There is an urgent need for a National Women's Enterprise Commission according to entrepreneurs and leading small firms representative organisations. Leading the call is businesswoman Isabella Moore, Chair of the Women's Enterprise Panel. "We have sufficient evidence to show that supporting more women into business is vital for our economic competitiveness. The stark fact is that the UK remains well behind the US in the rate of growth. We need to raise our game and a Commision is how to do it" said Ms Moore. When the US National Women's Business Council was established in 1988, the number of women in business skyrocketed from 1.5 million to today's figure of 20 million. The Forum for Private Business is backing the call saying "The Commisson needs political, business and media support to ensure we don't waste potential, the FPB will work with the new organisation to encourage more women into business". The recommendations of the Women's Enterprise Panel have been welcomed by the Treasury and are currently under consideration.

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SEEDA pledges 10,000 more women-owned businesses Calling female entrepreneurship a 'critical driver' for a stronger economy, Pam Alexander, Chief Executive of the South East England Development Agency (SEEDA) has launched a consultation calling for 10,000 new women-owned businesses in the region by 2010. "It is an economic imperative that SEEDA identifies the barriers women face in starting up and provides women with the support they need to break into enterprise. Business Links tell us that only 22% of women-owned firms in the region are using Government sponsored services. We urgently need to work on why this is and increase the figure" said Alexander. ''Realising the potential of women's enterprise a strategy for the South East' is open for consultation until 30 November. Download the consultation document at: http://www.seeda.co.uk/Work_in_the_Region/Business/Womens_Enterprise/

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Green shoots Government has hesitantly announced an increase in women-led businesses, from 15% to 19% of all businesses. It was announced by Deputy Minister for Women, Meg Munn in her Women’s Enterprise Day speech at the Everywoman Conference. The figure is not yet corroborated by any other significant study and the DTI concede that they “await the 2005 survey to see if the figure continues to stand as high as that”. Indeed CBI reporting recently shows a decrease in the level of female entrepreneurship and the massive Labour Force Survey suggests no significant increase in self-employment among women. http://www.dti.gov.uk/

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RDAs welcome multilateral vision for women’s enterprise In response to the Women’s Enterprise Panel’s call for “every woman in each region to have access to high quality female-friendly business support” Prowess has launched ‘Business Support with the F Factor’.  It outlines a multilateral approach to business support where mainstream and specialist providers work together to avoid customers falling through the gaps. The report locates women’s enterprise as a cross- Government agenda and calls for a “genuine focus on addressing economic growth, productivity gains and overcoming disadvantage and social exclusion through women’s enterprise”. The report has been welcomed by the RDAs, with lead Enterprise Director for women’s enterprise, Sue Kirby of emda, saying “this report identifies the factors that will ensure that together we achieve the vision of female-friendly business support for every woman in every region”.

Download 'Business Support with the F Factor' at: http://www.prowess.org.uk/publications.htm

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Sharp increase in enterprise aspirations of young women In a survey of secondary school students, 51% of women said they would like to start their own business compared to 55% of men. In 2004 just 35% of young women said they would like to be an entrepreneur compared to 55% of men. The survey also finds that family members are the most commonly cited role models for students interested in business ownership. When asked what would prevent them from starting a business; 63% of those surveyed said 'lack of expererience' 43% said 'fear of failure' and 39% said 'the cost involved'. Download 'Student Attitudes to Business 2005' at: http://www.businessdynamics.org.uk/gen/3lrsv445nrdux255d4euoq5509112005125429.pdf

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'Del Boy' label ain't working for women A new survey provides a wake-up call to anyone trying to market 'enterprise' to women - choose your words with care if you want to reach this growing market. Over 50% of women surveyed are turned off by the term 'entrepreneur' saying it invokes images of Del Boy from 'Only Fools and Horses' or Richard Branson type high fliers. The term 'networking' also gets the thumbs down. The findings are significant if business support providers, banks and funders are to create effective promotional materials, training and support packages for women. Download press release at: http://www.prowess.org.uk/press/prmoredetail.asp?id=153 Prowess members can download a summary of the research in the members area of the Prowess website: http://www.prowess.org.uk/members/memberlogin.asp

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Financial shortfall hindering women-owned firms Women business owners in the UK recieve a third of the amount of start-up finanace as their male counterparts, confirms new research. Whilst gender itself has no impact on the success of businesses, consistent undercapitalisation certainly does. "This problem is critical as the consequence of undercapitalisation during enterprise formation and development is underperformance during the life of the business" says the author of the research, Dr Sara Carter, University of Stirling. The research explores both the supply and demand side issues to the problem. Download 'Access to finance: women's enterprise and the role of the accountant' at: http://www.accaglobal.com/research/publications/summaries/rr-090

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Is the business baton being dropped for women? Women are being excluded from takeovers in family business succession according to new research. Findings from the Association of Chartered Certified Accountants (ACCA) shows that women are significantly less likely to inherit a business or to consider their business as a transfer proposition or to buy into an exisiting business. Whilst 60% of men surveyed set up their business from scatch the figure for women is 83%. Research shows that a business transfer is on average 150% more effective than a start-up. This has serious consequences for small businesses, local employment, supply chains and the overall economy. Download 'Encouraging Succesful Business Transfers' at: http://www.accaglobal.com/pdfs/smallbusiness/tech-esb-001.pdf

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Prowess Members Survey - Results Thank you to all of you who took part in the Prowess members online survey, we recieved responses from 42% of members. It is encouraging to note that 98.8% of you feel either very or quite engaged with Prowess. In terms of our agenda and remit, 83% of you feel Prowess plays a very important role in influencing policy at national level. When asked in which areas Prowess should seek to develop policy makers awarness, your top three areas were: pre-pre start businesses, graduate enterprise and childcare responsibility for women business owners. A summary of the findings of the members survey can be downloaded in the members section of the Prowess website at: http://www.prowess.org.uk/members/memberlogin.asp

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New Research

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Vacancies

Women's Enterprise Campaigner - Make Your Mark Campaigner £28,000 - £35,000 p.a The Make Your Mark Campaign run by Enterprise Insight, inspires people in their teens and twenties to turn their ideas into reality. You will be helping to build a grassroots movement, across the UK that also operates at the most senior levels of Government, education and the media. You will help ensure that women in their teens and twenties know all about the campaign and are encouraged to take advantage of the support on offer. Raising our profile with key organisations who wish to encourage enterprise amongst young women, you will develop partnerships and increase access to enterprise networks that help women fulfil their potential. You have extensive knowledge of the factors affecting young women in connection with enterprise. You are also a highly strategic thinker, with a history of successful campaigning or marketing behind you. Deadline for applications is 9.00 am 21 November 2005. For more information and details of application see:

http://www.starttalkingideas.org/aboutus/jobs.php

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