In line with International Women’s Day, a new study has revealed women want to embrace entrepreneurship but find there are a number of barriers to knock down
UK women have a significant appetite for self-employment and business ownership. However, while franchising is often a good way forward, it’s still an otherwise male-dominated industry with barriers to counter, according to a new survey from World Options, the shipping and logistics franchise.
Having surveyed 558 women across Blighty, the franchise found that many of them are eager to escape the nine-to-five shackles of traditional employment. A quarter of UK women surveyed have said they want to work independently in the next decade. Interestingly, it seems that the majority of budding entrepreneurs were quite young, with 57% of the women polled aged between 26 and 40 wanted to fly solo. Furthermore, another quarter would think about walking the entrepreneurial path.
The passion burning within these would-be business owners seems to be red-hot and World Options has witnessed an increase in women applying to become franchisees over the past few years. And they are making no secret as to why: 32% said a key driver for working for themselves would be setting their own hours, 27% said being their own boss and 19% are chasing the much sought after work-life balance. Just 5% said a larger income was the main motivator compared to 11% for men.
But it seems as if there are still several hurdles they have to overcome before launching their own businesses. For instance, 46% of women said financial commitments are preventing them from making the leap and 43% admit suffering from a lack of confidence when it comes to starting a business. Indeed, these fears are in line with the fact that there’s a gender bias issue that female leaders face.
Commenting on the research, Stewart Butler, sales director at World Options, said: “2018 represents a milestone year for women, as we mark 100 years since the Representation of the People Act that gave some women the chance to vote for the very first time. It is a fantastic opportunity to reflect on how we can encourage more women to embrace their careers and do the job they [have] always dreamed of.”
As women seek more opportunities and female-facing business initiatives like AllBright, She Means Business from Facebook and EWIF continue to unlock doors to entrepreneurship, it would seem that there's no reason these dreams can't become a reality.