The report, produced by the business finance experts at money.co.uk business loans, reveals the women in business trailblazers across UK regions, industries, professions, and more.
Key statistics about women’s entrepreneurship in the UK:
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In 2014, an average of 1.44 million women were self-employed. By 2024, this figure had grown to 1.56 million – an 8% rise.
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Kensington and Chelsea, in London, has the highest percentage of self-employed women at 33.7%, followed by Torridge, Devon, and the Orkney Islands, Scotland at 31% each.
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Health, wellbeing, and social care remains the sector with the most female-led companies, with almost two-fifths (39.9%) of all firms being female-led.
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There are 17,400 self-employed female farmers, which equates to 91.1% of the female workforce in this occupation, making it the top occupation for self-employed women.
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Wyre Forest, in Worcestershire, has the highest percentage of female-led companies at 35.4%, followed by Wychavon, Worcestershire, at 33.7% and Erewash, Derbyshire, at 29.9%.
Challenges facing female entrepreneurs:
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ONS data shows that of the 14.1 million women currently employed in the UK, 5.5 million work part-time – accounting for almost two-fifths (39%) of the female workforce. This is considerably higher than that of their male counterparts, at 2.1 million part-timers out of 13.8 million workers (15.1%) – less than half that of female workers.
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There are significantly fewer female-led companies that are considered to be fast-growing in the UK. Of all female-led businesses, only 2,407 fall into the fast-growth category – representing just 0.05%. Whereas, it’s estimated that there are over 15,130 fast-growing companies led by men in the UK (0.29%).
Neelam Ahuja, money.co.uk business loans expert, offers her advice to help female entrepreneurs launch their own successful businesses:
“Female entrepreneurs have significantly impacted the UK economy, as seen in the impressive revenue generated by women-led companies. However, whether it’s struggling to access capital, a lack of mentorship and networking opportunities, gender stereotypes, or work-life balance challenges.
“Despite this, the rising number of self-employed women over the years shows the perseverance of female trailblazers to overcome these barriers and make their mark in the entrepreneurial landscape. If you’re a woman wanting to start your own business, here are some things to consider:
“Conduct market research – before doing anything else, it’s essential to research the business landscape thoroughly. This will help you identify your niche, target audience, and competition. You can then develop a detailed business plan, which you’ll need when applying for funding.
“Secure funding – there are many ways to fund a startup business, including business loans, grants, investors, and personal savings. To give yourself the best chance of securing funding, flesh out your business plan with detailed financial projections, maintain a good credit score, and be transparent about any potential challenges and risks.
“Take advantage of networking opportunities – connecting with other female entrepreneurs is highly beneficial, as they’ll be able to help guide you through the process of launching your business and provide valuable advice. Networking can also help you make connections that could be useful in the future of your enterprise.
“Consider the legal requirements – depending on the nature of your business, you may be required to have a specific type of insurance, licence, or permit. It’s vital to ensure that you secure these to avoid any potentially costly legal issues.
“Budget wisely – starting a business can sometimes bring unexpected costs. It’s wise to create a detailed budget, accounting for all startup and recurring expenses, as well as building a safety net fund for any unexpected costs with a business savings account.”
