Entrepreneurship is a life changing experience and one we must seek to normalise, so that it is as natural a choice to become a business owner as it is to become a doctor, dentist or train driver. For women, this also means levelling up the numbers, as currently only one in four businesses is owned or run by a woman. Moreover, NWEW is focused on start-ups, as opposed to scale-ups, because it is the thousands of ‘acorns’, as opposed to the few ‘unicorns’ which actually make a difference to peoples’ lives on a day to basis around the UK – the small business which may simply be a kitchen table concern, but which changes the life choices of its owner for the better.
It is these businesses which circulate revenues in local economies, create employment for those people that supply them and most importantly, create financial independence and choices for those that own them. Make no mistake, when you throw the pebble of enterprise into even a small pond, the ripples go on forever. Entrepreneurship is important, particularly for women, not least because the UK will only achieve its full economic potential when women realise theirs.
To achieve this economic revolution, it is imperative that we grow the right infrastructure to support and encourage small businesses, one great example being the British Library Business & IP Centre, which provides free advice on all aspects of starting a business, has a stellar track record – 66% of its clients are women, and 33% BAME – and a stunning 95% of the businesses it helps are still in business two years later, as opposed to a national average of 50%.
But we need to do more, much more, and that is why NWEW is being launched, to highlight the importance of female entrepreneurship and encourage people around the UK to get involved in this national week of celebration. So, what can you do to play your part? See our ‘What’s Happening’ for more info.