3 days ago
Almost one in three women in business feel they aren't taken seriously by investors, research reveals
Almost one in three women in business feel they aren't taken seriously by investors, research has revealed.
A fifth (21 per cent) think it's harder for them to succeed than male counterparts – with 22 per cent of these citing limited access to funding and investment.
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The poll of 500 women who run their own businesses uncovered the top challenges they face, including gender bias (59 per cent) and balancing their personal and professional life (29 per cent).
And 42 per cent said they have faced stereotypical perceptions around 'emotional' versus 'rational' decision making, while 26 per cent had problems finding a supportive team to help them achieve their goals.
The research was conducted in conjunction with the AXA Startup Angel competition which annually awards two new businesses top prize packages of £25,000 plus mentoring from the AXA Startup Angels' four successful SME owners.
The findings have been compiled as part of the Women in Business Report, which looks at the challenges faced by female business owners and shares inspirational stories from female entrepreneurs.
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Mike Crane, director of small business insurance at AXA UK, which commissioned the research, said: 'Starting your own business is a huge challenge and our research has highlighted areas where women feel disadvantaged.
'It's clear that while the business world has made progress in recent years, it's sometimes still not a level playing field for women.
'More than half of the small business owners we surveyed said gender bias and stereotyping were a problem, while almost a third felt they weren't taken seriously by investors, clients or suppliers.'
Other issues women in business have encountered include under-representation of females in senior roles (28 per cent) and social pressure around appearance or behaviour (25 per cent).
However, 48 per cent said they have more flexibility to spend time with family while running their own business.
More than two in five (43 per cent) feel it has helped set a positive example to their children, according to the figures.
Nearly a fifth (19 per cent) of respondents launched their own business to help empower other women and foster diversity, while 15 per cent had hopes of improving their local communities.
A fifth said they had felt undervalued at their previous workplace, and 21 per cent also believe there is more risk – including the potential to lose money – as a woman running a business.
Mike Crane from AXA UK added: 'We believe being a woman shouldn't be a risk when starting out in business – everyone deserves the same opportunities regardless of gender.
'We're committed to supporting all budding entrepreneurs to realise their dreams. The AXA Startup Angel competition provides a springboard to bring incredible ideas to life, offering funding and mentorship that can make a real difference in those early days.
'Small businesses are the backbone of the UK economy, and we want to ensure they continue to grow and flourish with our support and encouragement.'
10 THINGS THAT MAKE IT HARDER FOR WOMEN TO SUCCEED IN BUSINESS:
Gender bias and stereotypes (59 per cent)
Gendered expectations around leadership styles (42 per cent)
Stereotypical perceptions of emotional vs rational decision making (42 per cent)
Difficulty in asserting authority without being viewed negatively (33 per cent)
Limited work-life balance support (29 per cent)
Underrepresentation in senior roles (28 per cent)
Lack of recognition for achievements or contributions (26 per cent)
Unequal division of domestic and childcare responsibilities (26 per cent)
Societal expectations around prioritising family over career (26 per cent)
Social pressure around appearance and behaviour (25 per cent)
