47% of female entrepreneurs took on more family responsibility
According to research by Simply Business, one of the UK’s largest small business insurance providers, two-thirds of female entrepreneurs feel the pandemic has worsened gender inequality and bias in business.
The research found that nearly half (47%) of female entrepreneurs had to take on more family responsibilities during the pandemic, with one in ten (11%) saying they’ve put their business plans on hold.
A third of women business owners experience sexism
Worryingly, the study also revealed that one in three (32%) female entrepreneurs have experienced sexism as a business owner, while one in five (19%) have experienced gender inequity and unequal access to opportunities.
Over a third (34%) of female entrepreneurs who took part in the study claimed that juggling childcare and family responsibilities is one of the greatest challenges when it came to running their running a business.
Baroness Karren Brady CBE, ambassador for Simply Business, commented: “The level of gender bias and inequality within business, particularly within the small business landscape, is astounding. Sexism and bias, whether conscious or unconscious, will erode confidence over time and lead to unequal opportunities. It’s vital we challenge sexism and bias, and equip female entrepreneurs with the tools, access and confidence to overcome these obstacles. We need to inspire women into business, not bring them down.
“We need to harness the talents, ambitions and drive of women, at any business, big or small. I’m proud to partner with Simply Business to shine a light on sexism and bias in business – it’s an ongoing challenge we need to resolve. Supporting and mentoring one female entrepreneur and giving them the skills and tools they need to flourish, is a positive step forward in this journey.”
Bea Montoya, Chief Operating Officer at Simply Business also commented: “The pandemic has been tough on everyone, with few being hit harder than the nation’s small business owners – and that’s especially true for women who run their own business.
“From trading restrictions to staff shortages, the challenges of running a small business over the last two years have been relentless. But for those also juggling parenting, childcare and home-schooling, those challenges have been intensified. Almost half of female entrepreneurs have had to take on more family responsibilities during the pandemic, leading to one in 10 putting their business on hold entirely.”