Much has been said about how difficult it is for women to start their own businesses, with unconscious bias and systemic sexism sitting at the forefront of the problem. But the most recent data shows that more women than ever before are pushing through to found start-ups.
In fact, in 2023 the UK saw an unprecedented 164,000 incorporations by women founders, the highest number on record for a single calendar year. The number of female founders has grown so fast in recent years that 2023’s total is more than double 2018’s figure – a veritable boom. Consequently, there are now 1.6 million female-owned businesses in the UK, 76 per cent more than in 2003.
1 per cent of the UK funding raised in the first half of 2023, while their all-female counterparts took home just 3.5 per cent, according to Beauhurst’s landmark report. It is well established that people tend to believe in, trust, and therefore invest in people similar to themselves. Given the significant lack of female investors and female-led venture capitalists, women are at an instant and obvious disadvantage.
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